Naphthalene Derivatives Market

Naphthalene Derivatives Market - Global
Industry Insights, Trends, Outlook and
Opportunity Analysis, 2016–2024
Synthesis of naphthalene derivatives require naphthalene compound as a basic
precursor. Naphthalene is one of the most important members of the class of organic
compounds, wherein two or more benzene rings are fused together at ortho-position.
Naphthalene derivatives are synthesized in two stages, namely, ring closure by
cyclization reaction, followed by aromatization process. However, various other
modifications can be carried out to synthesize different types of naphthalene
derivatives. 1, 6-dihydroxynaphthalene, 1-methylnaphthalene, 1-naphthol and
2-naphthol are some of the examples of naphthalene derivatives commercially available
in the market. These derivatives are available in powder and liquid form, of which, the
powder form finds prominent use. CMI forecasts the global naphthalene derivatives
market to grow at a healthy growth rate over the forecast period (2016-2024), owing to
factors such as ever rising demand for naphthalene derivatives such as naphthalene
formaldehyde in the construction industry across the world.
Rising construction industry and textile industry along with increasing application of
naphthalene derivatives in production facilities across various industries such as
chemicals, pharmaceuticals, paints and coatings, and others are major driving factors
for growth of the global naphthalene derivatives industry. Rising living standards
supported by high discretionary income translates to spending on fabrics and textiles
wherein, it is used in material dyeing and bleaching, which in turn catalyzes the growth
of naphthalene market. Apart from textile and construction industries, a significant rise
in demand from the agrochemical industry also contributes to the increasing demand for
global naphthalene market.
However, the toxic nature of naphthalene derivatives can be a major restraint for the
growth of the naphthalene derivatives market.
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Owing to the growing textile and construction industry along with growing production
facilities, the naphthalene derivatives market is expected to witness a robust growth
during the forecast period. Increasing development plans in the market, continuous
urbanization associated with rising living standards, in turn drives growth of supporting
industries such as textile and construction., Significant utilization of naphthalene in the
construction industry to increase the fluidity of concrete mixtures to strengthen the
building infrastructure, is in turn expected to fuel growth of the naphthalene derivatives
market over the forecast period.
Market Outlook – Increasing construction and textile industry in Asia Pacific is
expected to boost the growth for naphthalene derivatives market
Asia Pacific is expected to be the most lucrative market for naphthalene derivatives
market, owing to rising economy, strong growth of construction and textile sectors to
support the increasing population, along with increasing number of production facilities
due to the foreign investments and increasing FDI, especially in China and India. North
America and Europe are expected to witness a moderate growth in the market due to
implementation of stringent regulations pertaining to the application of the same. For
instance, use of naphthalene derivatives is prohibited in cosmetics since it is considered
harmful for skin. For instance, in the EU, it is categorized as a carcinogenic, mutagenic,
reprotoxic (CMR) substance, while the U.S. FDA has banned its use in cosmetics.
Some of the companies operating in the global naphthalene derivatives market include
BASF SE, RÜTGERS Group, Huntsman International LLC, Evonik Industries AG,
Koppers Inc., Arkema Group, Kao Corporation, Giovanni Bozzetto Spa,
Cromogenia-Units S.A., and Clariant etc. Key players existing in the global naphthalene
derivatives industries are currently focusing on geographical expansion, particularly in
the emerging economies of China, India, South East Asia, and Brazil etc. With the
increase in population and rapid urbanization, construction and textiles industries in
particular are expected to witness a significant rise in demand, which in turn would fuel
demand for naphthalene derivatives.
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Naphthalene Derivatives Market report categorizes global market by form type, product type, and end use industries - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024

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