Naphthalene Derivatives Market

Naphthalene Derivatives Market Trends, Demand and
Opportunities by 2026
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.
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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.
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.
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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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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.

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