Some of the prominent factors that positively influence the growth of the naphthalene market are increasing disposable income, constant urbanization, and improved living standards. Additionally, speedy growth of construction sector in emerging economies is expected to drive the market for naphthalene during the assessment period. Increasing demand for pesticide along with rising need of high quality crop production is expected to propel the market growth. Robust investment in the ongoing R&D projects by the major market players and strong acceptance within the end use industries is set to positively influence naphthalene demand. However, fluctuation in oil prices might hamper the market growth in near future.
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The Major Players operating in the naphthalene market are-
- Carbon Tech & Sepahan Chimie complex (Iran)
- DEZA a. s. (Czech Republic)
- SAIL (India)
- WUXI KINGHAN BIO-MEDICAL&CHEMICAL INC (China)
- Compro Shijiazhuang Fine Chemical Co (China)
- Koppers Inc. (U.S.)
- RÜTGERS N.V. (Germany)
- Merck KGaA (Germany)
- Industrial Química del Nalón S.A. (Spain)
- PCC Rokita SA (Poland)
Naphthalene is also known as moth ball or white tar. It is a white, volatile, solid polycyclic hydrocarbon with a strong mothball odor. It is derived from either coal tar or petroleum distillation and is majorly used to produce phthalic anhydride. It is soluble in most organic solvents and has a low solubility in water. It finds a wide scope in application as a plasticizer, pesticide, surfactant & wetting agent, and others in numerous end use industries such as textile, household cleaning, agriculture, building & construction, and others.
Market Segmentation: –
Naphthalene market is categorized on the basis of source, application, and end use industry. On the basis of source, the market is bifurcated into coal tar and petroleum. More than 85% of the world’s naphthalene is manufactured using coal tar as coal tar consists of about 10% naphthalene whereas petroleum has only 2%. On the basis of application, naphthalene market is categorized into surfactant & wetting agent, plasticizer, pesticide, and others. On the basis of end use industries, naphthalene market is classified into agriculture, building & construction, household cleaning, textile and others. Other end use industries include personal care and pharmaceuticals. Naphthalene is extensively used in the manufacturing of naphthalene sulphonate which is widely used in plasticizers. Among the end use segment building & construction holds the major market share on account of increasing construction activities across the globe. Agriculture sector holds the second largest position on account of increased usage of pesticide and insecticide in the past recent years. Moreover, increasing disposable income coupled with rising demand for personal care products is expected to raise the the demand for Naphthalene in the personal care segment.
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Asia Pacific is predicted to be the largest market for naphthalene followed by Europe and North America due to rising demand from numerous end use industries such as building & construction, agriculture, and household cleaning among others. Emerging countries such as China, India, Thailand, Vietnam, and Malaysia are the fastest growing market for naphthalene, and is expected to grow with the same pace in the near future. In Asia Pacific, some of the driving factors for market growth are rising economic growth rate, competitive production costs, and availability of raw material. Europe naphthalene market is predicted to witness a significant growth on account of continuous growth of textile and household cleaning industry. North America is expected to witness a substantial growth during the review period owing to increasing demand for plasticizer in construction sector. The Middle East & African countries is expected to witness strong market growth on account of increasing construction activities. In Latin America market growth is majorly due to expansion of personal care and textile sector.
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