Naphthalene Derivatives Market size was valued at USD 16.28 Billion in 2023 and is set to cross USD 35.81 Billion by 2036, registering more than 6.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of naphthalene derivatives is evaluated at USD 18.4 Billion. Agrochemical companies frequently use naphthalene derivatives because of their low volatility and lack of scent. Due to their extended range of industrial uses, the availability of naphthalene derivatives in a number of compositions, such as salts, alcohols, and others, is anticipated to drive market growth. According to study, the global market for agrochemicals was expected to be valued around USD 217.24 billion dollars in 2021. In 2030, this is anticipated to rise to about USD 279 billion dollars.
Another factor projected to fuel expansion of the global naphthalene derivatives market over the forecast period is the growing use of naphthalene derivatives in manufacturing facilities across a variety of sectors, including paints & coatings, is a key reason fueling the market's expansion.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6.5% |
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Base Year Market Size (2023) |
USD 16.28 Billion |
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Forecast Year Market Size (2036) |
USD 35.81 Billion |
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Regional Scope |
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Form (Liquid, Powder)
With a 60% revenue share, the powder sector of the naphthalene derivatives market is predicted to have the quickest growth rate throughout the projected period. The primary factors behind the increased demand for powdered form of naphthalene derivatives are their simple availability in powdered form at room temperature and their ease of transportation and packaging in compared to liquid form.
End User (Construction, Agro-Chemicals, Textiles, Oil & Gas, Paints & Coatings, Pulp & Paper, Pharmaceuticals)
Construction held the biggest end-user revenue share of the naphthalene derivatives market at 28%. The demand from the construction sector is being driven by the growing usage of naphthalene derivatives such as SNF and phthalic anhydride, which are employed as superplasticizers in concrete and the production of PVC plastics in the development of infrastructure. For instance, the world’s production of PVC in volume accounted for more than 44 million metric tons in the year 2018.
Our in-depth analysis of the global naphthalene derivatives market includes the following segments:
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Form |
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Product |
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Source |
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End User |
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APAC Market Forecast
The Asia Pacific region is likely to dominate the naphthalene derivatives market over the projected timeframe and is estimated to have 35% market share. With the largest population in the world and a high concentration of garment sectors, APAC. The improvement in consumer purchasing power brought about by the economy's progress has increased per-capita consumption of goods, including textiles, which is fueling the expansion of the APAC textiles sector. In Asia Pacific region, consumer expenditure on apparel is anticipated to reach USD 756.84 billion in 2021, up 18% from the USD 647.26 billion spent in 2020.
European Market Statistics
The naphthalene derivatives market in Europe is anticipated to have a 25% revenue share during the forecasted year due to the significant presence of the medical and agrochemical industries in the area. Furthermore, it is projected that the market would expand as a result of the region's strict norms and restrictions regarding the use of naphthalene derivatives.
Author Credits: Rajrani Baghel
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