Naphthalene Market Opportunity Assessment, Market Challenges, Key vendor analysi

Posted by Priya on May 21st, 2018

Market Overview:

Naphthalene is a class of an organic compound with chemical formula C10H8. It is considered as the simplest polycyclic aromatic hydrocarbon, and is a white solid chemical that sublimes easily. Naphthalene is manufactured commercially from either coal tar or petroleum, majorly it is produced from coal tar across the globe. Naphthalene is used in the manufacturing of phthalic anhydride and also used in mothballs. Additionally, it is used as surfactant & wetting agent, plasticizer, and pesticide in numerous end use industries such as building & construction, agriculture, household cleaning, textile and others.

 Naphthalene market is classified on the basis of source, application, end use industries, and regions. Based on the source, the market is bifurcated into coal tar and petroleum. On the basis of application, the market is categorized into surfactant & wetting agent, plasticizer, pesticide, and others. On the basis of end use industries, naphthalene market is segmented into agriculture, building & construction, household cleaning, textile and others. Other include healthcare and personal care sector. On the basis of regions, the market is classified into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

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Top 10 Key Players

Some of the prominent players operating in the naphthalene market are Koppers Inc. (U.S.), RÜTGERS N.V. (Germany), Merck KGaA (Germany), Industrial Química del Nalón S.A. (Spain), PCC Rokita SA (Poland), Carbon Tech & Sepahan Chimie complex (Iran), DEZA a. s. (Czech Republic), SAIL (India), WUXI KINGHAN BIO-MEDICAL&CHEMICAL INC (China), Compro Shijiazhuang Fine Chemical Co (China), among others.

Geographical Analysis 

The report covers brief analysis of geographical regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

As per our analysis, some of the important market factors and trends identified in the global naphthalene market include technological advancement, growing urbanization, and superior growth of construction sector. Rising usage in agricultural activities along with the increasing demand for high quality crop production is expected to drive the growth of the market over the forecast period. Furthermore, increase in the consumption of insecticide on account of increasing awareness among farmers related to the effects of insecticide on crop yield is predicted to propel the growth of the market. Moreover, the growing use of o-xylene, instead of naphthalene, for phthalic anhydride production might hamper the market growth during the review period. Moreover, the material is based on renewable resource which is depleting day by day and expected to hinder the market growth.

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 Regional Analysis

Asia Pacific emerged as the largest market for naphthalene followed by Europe and North America. North America is estimated to witness a significant growth in naphthalene market on account of recovery of industrial sector combined with escalating investments to revitalize textile industry. North American countries such as the U.S. and Canada are among the major contributors in the regional market growth and are predicted to see a significant regional market growth due to continuous expansion of healthcare sector. While in Europe, countries such as Russia, France, Italy, Germany, and U.K have emerged as prominent consumer markets on account of developed end use industries and increasing expenditure on R&D and innovation. Latin American countries such as Mexico, Brazil, and Colombia are also predicted to witness moderate growth with the involvement of new business models.