Research Nester’s recent market research analysis on “Naphthalene Derivatives Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global naphthalene derivatives market in terms of market segmentation by form, product, source, end user, and by region.
Increase in Investment by Businesses in R&D to Promote Global Market Share of Naphthalene Derivatives
Due to their low volatility and odour, naphthalene derivatives are extensively used by agrochemical businesses. The availability of naphthalene derivatives in a variety of compositions, including salts, alcohols, and others, is expected to fuel market expansion due to their broad range of industrial applications. Agrochemicals were predicted to have a global market of roughly USD 217.24 billion in 2021, according the report. This is projected to increase to roughly USD 279 billion in 2030.
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An increase in investments by well-known companies in naphthalene derivative R&D is another factor anticipated to drive market growth for these products over the forecast period. A major factor driving the market's growth is the expanding usage of naphthalene derivatives in manufacturing facilities across several industries, including chemicals and paints & coatings.
Some of the major growth factors and challenges that are associated with the growth of the global naphthalene derivatives market are:
Growth Drivers:
• Surge in Usage of Naphthalene Derivatives in Pharmaceutical Industry
• Rising Need for Naphthalene Derivative in Building Sector
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Challenges:
Environmental hazards can result from the emission of naphthalene and its derivatives into the air via mothballs, cigarettes, wood burning, and inadvertent spills. Particles of soil easily absorb naphthalene and its compounds into water. They may easily vaporize into the atmosphere due to their volatility. In the presence of moisture and sunlight, naphthalene is rapidly transformed into 1- or 2-naphthol, which can enhance air toxicity and present a number of health risks. High concentration of dangerous, damaging compounds, changing energy costs and overproduction are some of the major factors anticipated to hamper the global market size of naphthalene derivatives.
By end-user, the global naphthalene derivatives market is segmented into construction, agro-chemicals, textiles, oil & gas, paints & coatings, pulp & paper, pharmaceuticals. The construction segment is to garner a highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The use of naphthalene derivatives as SNF and phthalic anhydride, which are used as superplasticizers in concrete and the creation of PVC plastics in the development of infrastructure, is increasing, which is what is driving demand from the construction industry. The construction industry is expected to be the primary end user of naphthalene derivatives due to expanding residential complex development, increasing repair and maintenance operations, and a growing service sector economy.
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By region, the North America naphthalene derivatives market is to generate the highest revenue by the end of 2035. Due to the region's concentration of various textile and agrochemical sectors, the market in North America is expected to grow. Additionally, it is projected that the region's strong agrochemical and medical sectors would fuel market expansion. It is also projected that the growth of the textiles and construction markets would be accelerated by enterprises engaged in research and development.
This report also provides the existing competitive scenario of some of the key players of the global naphthalene derivatives market which includes company profiling of KOPPERS Inc., BASF SE, Arkema Group, Rutgers NV, Kao Corporation, Evonik Industries AG, King Industries, Inc., Carbon Tech Group, and others.
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