What is Global Naphthalene Market?
The Global Naphthalene Market is a vast and complex entity that encompasses a wide range of industries and applications. Naphthalene, a polycyclic aromatic hydrocarbon, is primarily derived from coal tar, but can also be produced from petroleum. It is a white, crystalline, solid substance with a characteristic odor, often associated with mothballs. The market for this compound is truly global, with demand stemming from various sectors across the world. The market's size and value are determined by the demand for naphthalene in its various applications, the availability of raw materials, and the environmental regulations in place in different regions. The market is also influenced by technological advancements and the development of new applications for naphthalene.
Coal-Tar Processing, Petroleum-Derived in the Global Naphthalene Market:
The Global Naphthalene Market is segmented based on the source of naphthalene, namely, coal-tar and petroleum-derived. Coal-tar is the traditional source of naphthalene and continues to be the major source due to its abundance and low cost. The process of extracting naphthalene from coal tar involves distillation and crystallization. On the other hand, petroleum-derived naphthalene is obtained as a by-product of petroleum refining. Although the process is more complex and costly, it results in a purer form of naphthalene. The choice between coal-tar and petroleum-derived naphthalene depends on the specific requirements of the end-use application.
Phthalic Anhydride, Refined Naphthalene, Water-Reducing Admixture, Others in the Global Naphthalene Market:
Naphthalene finds usage in a variety of applications. It is used in the production of phthalic anhydride, a key ingredient in the manufacture of plasticizers, dyes, and resins. Refined naphthalene is used in the production of other chemicals, in moth repellents, and in the manufacture of synthetic leather. Naphthalene is also used as a water-reducing admixture in concrete, enhancing its workability and strength. Other applications of naphthalene include its use in the production of surfactants, insecticides, and fungicides. Each of these applications contributes to the demand for naphthalene and thus influences the dynamics of the Global Naphthalene Market.
Global Naphthalene Market Outlook:
The Global Naphthalene Market has shown promising growth in recent years. In 2022, the market was valued at US$ 1148.1 million. This value is expected to increase significantly over the next few years, reaching an estimated US$ 1415.5 million by 2029. This represents a compound annual growth rate (CAGR) of 3.0% during the forecast period of 2023-2029. This growth can be attributed to the increasing demand for naphthalene in its various applications, coupled with the availability of raw materials and advancements in extraction and refining technologies. However, the market's growth may be hampered by environmental concerns and regulations regarding the use and disposal of naphthalene. Despite these challenges, the Global Naphthalene Market is poised for steady growth in the coming years.
| Report Metric | Details |
| Report Name | Naphthalene Market |
| Accounted market size in 2022 | US$ 1148.1 in million |
| Forecasted market size in 2029 | US$ 1415.5 million |
| CAGR | 3.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Baowu Carbon Material, Rain Industries, JFE Chemical, C-Chem, OCI, Koppers, Himadri, Baoshun, Sunlight Coking, Shandong Weijiao, Kailuan Group, Huanghua Xinnuo Lixing, Jining Carbon, Shanxi Hongte, Ansteel Group, Avdiivka Coke Plant, DEZA a. s., EVRAZ |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
