Naphthalene Market Information Report by Derivatives (1-Naphthol, 2-Naphthol, Phthalic anhydride, and others), by Application (Paints & coatings, agrochemicals, fumigant, and others), by End-User (Construction, Agriculture, Chemicals, Food & Beverages, Healthcare, and others), and by Geography - Forecast to 2027

Pune, India -- (SBWire) -- 02/15/2018 --Naphthalene Market - Overview

The Global Naphthalene Market is growing with the rapid pace; mainly due to the burgeoning agrochemicals industry. According to a recent study report published by the Market Research Future, The global market of Naphthalene is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).

Naphthalene is a white, volatile, solid polycyclic hydrocarbon with a strong mothball odor. Naphthalene is obtained from either coal tar or petroleum distillation. Naphthalene is used mainly as a precursor to many other chemicals. The major use of Naphthalene is the industrial production of phthalic anhydride, although more phthalic anhydride is made from o-xylene. Many azo dyes are produced from naphthalene, and so is the insecticide 1-naphthyl-N-methylcarbamate (carbaryl). Other useful agrichemicals include naphthoxyacetic acids. The major commercial applications are in the agricultural chemical industry, which uses alkyl naphthalene sulfonates for wettable powder and wettable granular formulations, and the textile and fabric industry, which utilizes the wetting and defoaming properties of alkyl naphthalene sulfonates for bleaching and dyeing operations.

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Globally, the market for Naphthalene is driven by the region Asia pacific, owing to the rise in the population resulting in to increasing demand for food supplies and agrochemicals among others. Naphthalene are extensively used in the phthalic anhydride manufacturing which in turn used as a raw material to manufacture plasticizers for concrete. Plasticizer enhances the viscosity and improve the quality of concrete. However, o-xylene is replacing naphthalene as the preferred raw material for phthalic anhydride production is expected to hamper the market growth rate owing to its lesser toxicity when compared to phthalic anhydride.

Rising population defines the growth of agriculture industry. Since, naphthalene is utilized to manufacture naphthalene sulfonates which are in turn utilized to manufacture dispersants and wetting agents in dyes, leather and agrochemicals industries.

On the other hand, the negative impact of naphthalene on prolonged exposure leads to harmful effects is resulting in to further hampering the Naphthalene Market growth.

Naphthalene are high value added and low production volume chemicals and can also be termed as performance chemicals. It is high added value products used as moth repellents and chemical intermediates. Naphthalene are used in pesticides & insecticides, concrete, leather tanning, and dyes.

Phthalic anhydride is most widely used naphthalene based plasticizer after that naphthalene sulfonates used in agrochemicals is most popular.

Naphthalene Market - Competitive Analysis
The Naphthalene Market appears to be less competitive with the presence of only few major global chemicals and materials manufacturers operating in the Naphthalene Market. Presence of few key players will lead to monopoly situation and also competitive edge in innovation and technology is expected to be indelicate. As these materials are pricing at higher costs in the current markets and increasing demand for naphthalene materials in agrochemical industries will influence the end user products from these industries. Naphthalene Market demonstrates a high growth potential as the demand for these materials is increasing other key players are likely to invest in opening new production capacities to meet the global demand with better solutions.

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