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Nephthalene Derivatives Market 2024-2033 : Industry Analysis, Size, Share, Growth And Forecast | Rutgers Chemicals GmbH, BASF SE, Huntsman International LLC, Koppers Inc., Arkema SA
Nephthalene Derivatives Global Market Report 2024
The nephthalene derivatives market size is expected to see strong growth in the next few years. It will grow to $13.04 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to growth in textile dyeing industry, innovation in construction materials, increasing demand in electronics, rise in green chemistry initiatives, exploration in pharmaceutical applications. Major trends in the forecast period include innovative solutions, strategic collaborations, focus on healthcare and pharmaceuticals, exploration in agrochemicals, emergence of high-performance polymers.
Market Overview -
The naphthalene derivatives refer to an aromatic hydrocarbon and the wetting agents that are extensively used as lubricants and wood-preserving compounds in various industries. It is useful as wetting agents and surfactants for dispersing colloids, increasing the solubility of hydrophobic substances, and as insecticides.
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Naphthalene Derivatives Market Thrives On Surging Demand From The Growing Textile Industry
The growing textile industry is expected to drive the naphthalene derivatives market going forward. The textile industry refers to the fields of research, design, development, production, and distribution of textiles, fabrics, and apparel. The market for naphthalene is growing as a result of rising living standards supported by high discretionary income, which translates to spending on fabrics and textiles where it is utilized in material dyeing and bleaching. For instance, in May 2023, according to National Council of Textile Organizations (NCTO) is a US-based trade association that representing textile industry, in 2022, the estimated value of U.S. shipments in the man-made fiber, textile, and apparel sector reached $65.8 billion, showing an increase from the $64.04 billion recorded in 2021. Notably, U.S. exports in textiles and apparel to the Western Hemisphere experienced a significant rise of 14.9 percent, reaching a total of $18 billion in 2022. Therefore, increasing demand from the textile industry drives the naphthalene derivatives market.
Competitive Landscape -
Major companies operating in the nephthalene derivatives market report are Rutgers Chemicals GmbH, BASF SE, Huntsman International LLC, Koppers Inc., Arkema SA, Evonik Industries AG, Kao Corporation, Cromogenia-Units SA, Clariant AG, King Industries Inc., Carbon Tech Group Ltd., JFE Chemical Corporation, Rain Carbon Inc., Giovanni Bozzetto Spa, Covestro AG, Himadri Specialty Chemical Ltd., Nippon Steel Chemical & Material Co. Ltd., Merck Co. & KGaA, Sinopec Shanghai Petrochemical Company Limited, Shandong Hongyuan Chemical Co. Ltd., Asahi Kasei Corporation, Biosynth Carbosynth Ltd., Nouryon Chemicals (Jiaxing) Co. Ltd., LG Chem Ltd., Eastman Chemical Company, Wanhua Chemical Group Co. Ltd, Saudi Basic Industries Corporation, Chevron Phillips Chemical Company
Ecofining Technology Pioneers Sustainable Naphthalene Derivatives In Petrochemical Manufacturing
Technology advancement is a key trend gaining popularity in the naphthalene derivatives market. Major companies in the naphthalene derivatives market are advancing with their new technology, such as Ecofining technology, in the naphthalene derivatives market. For instance, Honeywell, a US-based company operating in naphthalene derivatives introduced UOP Ecofining, a new technology that produces renewable naphtha for petrochemical manufacturing. The novel route may produce high yields of naphtha by utilizing environmentally friendly feedstocks such as recycled cooking oil and animal fats. The created Naphtha is an important petrochemical feedstock used to make plastics, notably olefins which serve as the basis for other chemicals and aromatics that are used to make polyester and other packaging materials.
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Key Segments -
The nephthalene derivatives market covered in this report is segmented -
1) By Product Type: Sulphonated Naphthalene Formaldehyde, Phthalic Anhydride, Naphthalene Sulphonic Acid,Naphthols,Alkyl Naphthalene Sulphonates Salts, Other Product Types
2) By Form Type: Liquid Naphthalene Derivatives, Powder Naphthalene Derivatives
3) By Source Type: Coal Tar, Petroleum, Other Source Types
4) By End-Use Industry Type: Construction, Agro-Chemicals, Textiles, Oil and Gas, Paints and Coatings, Pulp and Paper, Pharmaceuticals, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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