Global Naphthalene Market- Segmented by Phase, End-User Industries, Application and Geography - Trends and Forecasts (2017 - 2022)
The global naphthalene market is valued at USD XX billion in 2016 and is expected to reach USD XX billion by 2021, growing at a CAGR of X.X% during the forecast period 2016-2021. In terms of volume, the global naphthalene market is estimated to have a capacity of XX billion cubic feet (Bcf) in 2016 and is projected to reach XX Bcf by 2021, at a CAGR of X%.
Naphthalene can be sourced from either coal tar or petroleum. While coal tar consists of about 10% naphthalene, petroleum has only 2%. More than 90% of the worlds naphthalene is produced using coal tar. The most common use of naphthalene is to produce other organic compounds, mainly phthalic anhydride and naphthalene sulfonates. Its hygroscopic nature makes naphthalene ideal to be used as a wetting agent. Its other uses are in low-volatile solvents, moth repellents and pesticides.
The market is mainly driven by the growing demand for naphthalene sulfonate-formaldehyde in concrete admixtures. The increasing use of naphthalene in the textile industry has also been driving the market. However, the market does face some drawbacks, mainly the growing environmental concerns regarding naphthalene use in pesticides and the growing use of o-xylene, instead of naphthalene, for phthalic anhydride production. These factors may act as a roadblock to the growth of the market.
The naphthalene market, by the end-user industry, can be segmented into construction (as NSF), agrochemicals, petrochemicals, textile and others.
During 2016 and 2021, the annual worldwide demand is expected to increase slowly, at an estimated 2%. China leads the way, in both overall demand and demand growth, due to the increasing use of NSFs. China, along with Japan and other Asian countries, accounts for more than 50% of the market; followed by Europe and America. The market share is expected to be the same during the forecast period, with the Asian countries gaining ground in the market and the reverse seen in the American market.
Opportunities and Market Players
The use of naphthalene for various purposes in the construction industry can be a major opportunity for the market.
Some of the major companies dominating this market for naphthalene production and uses are -
CarbonTech Group Compro
Shijiazhuang Fine Chemical Co., Ltd.
Iwaki Seiyaku Co., Ltd.
Key Deliverables in the Study
Market analysis for the global naphthalene market, with region-specific assessments and competition analysis on a global and regional scale.
Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global naphthalene market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.