Naphthalene Derivatives Market Size

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.