Naphthalene Derivatives Market Trends
Growth Drivers
- Expanding Textile Sector in Developing Nations- Alkyl naphthalene sulfonates are commonly employed in the textile industry for bleaching and dying treatments due to their soaking and defoaming qualities. The textile industry uses azo dyes, which account for a sizeable share of commercial dyes, extensively. Different hues employ alkyl naphthalene sulfonates as a precursor.
- An Increase in Demand in the Building Sector- The building industry is the one where naphthalene compounds are most frequently employed due to their low volatility and absence of scent. The construction industry's substantial use of naphthalene to improve the smoothness of solid mixes in concrete and enhance the structure's framework.
- Usage is Expanding in the Pharmaceutical Sector- Naphthalene derivatives are utilized in the pharmaceutical sector to develop novel medications and treatments. Acute neurological conditions like cerebral impairments following cardiac bypass surgery and grafting, stroke, cerebral ischemia, and spinal cord damage as a result of trauma or other diseases are among the neurological issues that naphthalene derivatives are used to treat in mammals.
Challenges
- High Concentration of Dangerous, Damaging Compounds- Mothballs, cigarette smoke, wood burning, and unintentional spills all release naphthalene and its derivatives into the air, posing environmental dangers. Naphthalene and its derivatives are readily absorbed by soil particles into water. Due to their volatility, they may vaporise into the atmosphere with ease. Naphthalene is easily converted into 1- or 2-naphthol in the presence of moisture and sunshine, which may increase air toxicity and provide a range of health hazards.
- Changing Energy Costs and Overproduction
- The Availability of Substitutes
Naphthalene Derivatives Market: Key Insights
The global naphthalene derivatives market is anticipated to record a CAGR of around 4.6% over the forecast period, i.e., 2019-2027 owing to increase in use of these derivatives for industrial applications. The naphthalene derivatives are used heavily in agro chemicals, textiles and construction industries owing to their odorless nature coupled with low volatility. Additionally, the availability of naphthalene derivatives in various compositions, for instance, as salts, alcohols, acids and others is anticipated to increase the market growth owing to their increased applicability in various industries. The rapid industrialization and urbanization is anticipated to result in the market growth owing to changing lifestyle of people, with people investing more in construction and textile sectors. The recent developments and innovations in naphthalene derivatives and discovery of new naphthalene compounds is estimated to increase the market growth owing to availability of different salts and acids in a number of textures, finishes, surfaces and polishes resulting in improved applicability of these compounds.
Get more information on this report: Download Sample PDF
The market is segmented by form, by product, by end user and by source. The end user segment is further segmented into construction, agro-chemicals, textiles, oil & gas, paints & coatings, pulp & paper, pharmaceuticals and others, out of which, the construction segment is anticipated to observe significant growth on account of expansion and increased investments in the industry, followed by agro chemicals segment and textile segment. The product segment is further segmented by sulphonated naphthalene formaldehyde, phthalic anhydride, naphthalene sulphonic acid, naphthols, alkyl naphthalene sulphonate salts and others, out of which the sulphonated naphthalene formaldehyde (SNF) is estimated to witness significant growth on the back of its use in concrete cement as super plasticizer and high cost effectiveness as compared to other compounds. Additionally, the phthalic anhydride segment is anticipated to witness market growth owing to their use in manufacturing dyes and pigments thereby expanding the textiles industry followed by alkyl naphthalene sulphonate salts on the back of their use as dispersants in many industries.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
USD 18.48 billion |
|
Base Year Market Size (2024) |
USD 42.42 billion |
|
Forecast Year Market Size (2037) |
6.60% |
|
Regional Scope |
|
