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Naphthalene derivatives Market Segments, Opportunity, Growth and Forecast By End-use Industry 2016-2024

Naphthalene derivatives Market Segments, Opportunity, Growth

Naphthalene Derivatives Market: Overview

The basic necessity for synthesis of naphthalene derivatives is a naphthalene compound, which could is a suitable precursor for obtaining naphthalene-based derivatives. Naphthalene derivatives are synthesized in two steps viz. ring closure by cyclization reaction, followed by aromatization. However, a number of modifications can be tried to synthesize different types of naphthalene derivatives.

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1, 6-Dihydroxynaphthalene, 1-Methylnaphthalene, 1-Naphthol, and 2-Naphthol are some examples of naphthalene derivatives. Several kinds of naphthalene derivatives are available in the market.

Naphthalene derivatives are available in two basic forms: liquid and solid. The nature of application decides which form of derivative is to be used. The powdered form is used on a larger scale than the liquid form.

Derivatives of naphthalene are available in different types such as alkyl; naphthalene sulfonates, naphthalene sulfonic acid, naphthalene formaldehyde condensates (SNF), and naphthols.

Naphthalene Derivatives Market: Market Trends

Naphthalene derivatives have a wide range of application. They are used as chemical intermediates in industries such as textile, pharmaceuticals, rubber, photography, agrochemicals, detergents, and construction. In the textile sector, naphthalene derivatives are significant in the process of dyeing. Some naphthalene derivatives have insecticidal properties, which make them useful compounds in the agriculture sector. Naphthalene derivatives can function as plasticizers or dispensers and are used in the manufacture of good-quality concrete and plasterboards (i.e. drywall or wallboard).

Another major application of naphthalene derivatives is the industrial synthesis of phthalic anhydride, which is a chemical intermediate in the synthesis of plastics from vinyl chloride. Phthalic anhydride is also used as a dye.

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Speedy growth of the textile industry is expected to drive the market for naphthalene derivatives during the forecast period. Construction is considered to be one of the speedily growing end-use application segments of the market for naphthalene derivatives.

The rise in standards of living, constant urbanization, and increased R&D activities are expected to be major driving factors for the market for naphthalene derivatives in the near future.

However, fluctuations in prices of crude oil and high level of toxicity associated with the use of naphthalene derivatives may prove to be a major restraint for growth of the market for naphthalene derivatives.

Naphthalene Derivatives Market: Region-wise Outlook

The market for naphthalene derivatives in Asia Pacific is expected to witness speedy growth both in terms of volume and value. Various factors including presence of emerging economies such as China in the region, increasing investments by foreign countries, and high demand from textile and construction industries are anticipated to drive the naphthalene derivatives market in Asia Pacific during the forecast period.
The naphthalene derivatives market in North America and Europe is expected to experience a moderate rate of growth, due to rules and regulations associated with the use of naphthalene derivatives. Also, the market for phthalic anhydride in these region is expected to experience a higher growth rate as compared to the market for naphthalene derivatives.

The market in Latin America and Middle East & Africa is anticipated to witness a sluggish growth rate during the forecast period, owing to less number of end-user industries in these regions.

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