나프탈렌 시장(2024-2031년)

Naphthalene Market Size, Share & Trends Analysis Report by Source (Coal Tar and Petroleum), and by Application (Phthalic Anhydride, Naphthalene Sulfonates, Low-Volatility Solvents, Moth Repellent, Pesticides and Others), Forecast Period (2024-2031).

Naphthalene market is anticipated to grow at a CAGR of 8.4% during the forecast period (2024-2031). Naphthalene is a white crystalline compound with a strong, distinctive odor. It is derived from coal tar or petroleum and is commonly used as a moth repellent and deodorizer. Major factors supporting the market growth are its versatile applications across various industries and market players expanding their capacity to support market demand.

Market Dynamics

Diverse Application of Naphthalene Across Various Industries

The demand for naphthalene is driven by its diverse applications across various industries. Industries such as chemicals, construction, agriculture, and consumer goods rely on naphthalene derivatives for a wide range of products. Factors such as population growth, urbanization, and industrialization contribute to the increasing demand for naphthalene-based products. Additionally, changing consumer preferences and lifestyle trends influence the demand for end-user products containing naphthalene, such as moth repellents and low-volatility solvents. As these industries continue to grow and evolve, the demand for naphthalene is expected to remain robust, driving market expansion.

Raw Material Dynamics is Shaping the Naphthalene Market Landscape

The availability and cost of raw materials, particularly coal tar, and petroleum, play a critical role in shaping the naphthalene market. Fluctuations in raw material prices, driven by factors such as supply-demand dynamics, geopolitical tensions, and regulatory changes, impact production costs and pricing strategies adopted by industry players. Access to reliable and cost-effective sources of raw materials is essential for maintaining competitiveness and profitability in the naphthalene market. Additionally, developments in alternative raw material sources and advancements in extraction technologies may influence raw material availability and market dynamics in the long term.

Market Segmentation

• Based on source, the market is segmented into coal tar and petroleum.
• Based on application, the market is segmented into phthalic anhydride, naphthalene sulfonates, low-volatility solvents, moth repellents, pesticides, and others.

Coal Tar is Projected to Emerge as the Largest Segment

The coal tar segment is expected to hold the largest share of the market. The primary factor supporting the segment's growth includes its abundant availability as a raw material. Coal tar, a byproduct of the coal carbonization process, serves as a primary source for naphthalene production due to its high naphthalene content. With extensive coal reserves globally and the continued use of coal in various industrial processes, there is a consistent and reliable supply of coal tar for naphthalene production.

Phthalic Anhydride Segment to Hold a Considerable Market Share

The phthalic anhydride segment commands a considerable market share in the global naphthalene market due to its versatile applications across industries such as plastics, coatings, dyes, and pharmaceuticals. With increasing demand for plastics and construction materials, as well as the expanding textile industry, the need for phthalic anhydride derived from naphthalene remains robust. Technological advancements have further improved the efficiency and cost-effectiveness of production processes, driving the segment's market share growth.

Regional Outlook

The global naphthalene market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Asia-Pacific is Growing Fastest in Naphthalene Market Growth

Asia-Pacific emerges as the fastest-growing market due to the region's burgeoning population and rapid industrialization driving significant demand for naphthalene across various sectors, including chemicals, construction, and agriculture, and also benefits from expanding infrastructural development, particularly in emerging economies such as China and India, which fuels the need for naphthalene-based products in construction materials and coatings. Additionally, the increasing adoption of naphthalene derivatives in the agriculture sector, particularly as pesticides and insecticides, contribute to market growth in the region.

North America Holds Major Market Share

Among all the regions, North America holds a significant due to a well-established industrial sector, including chemical manufacturing that drives significant demand for naphthalene as a raw material in various processes and also benefits from advanced research and development capabilities, leading to continuous innovation in naphthalene-based products and applications. For instance, in February 2021, Bain Capital, a prominent private equity firm, executed strategic transactions involving its investment in Himadri Specialty Chemical. Bain Capital liquidated 8.36% of its stake in Himadri Specialty Chemical, reducing its ownership interest to 12.7%. Additionally, Bain Capital divested a 6.2% share in a bulk transaction, indicating adjustments in its investment portfolio.

Market Players Outlook

The major companies serving the global naphthalene market include Koppers Inc., Rain Industries Ltd., Himadri Speciality Chemical Ltd., EVRAZ plc, Exxon Mobil Corporation, and others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market. For instance, December 2021 marked an important development as Exxon Mobil Corporation announced its acquisition of Materia Inc., a California-based company. This strategic move builds upon the companies' prior collaboration and aims to leverage Materia Inc.'s expertise in producing novel hydrocarbon-based materials. Through this acquisition, Exxon Mobil Corporation seeks to enhance its product offerings and strengthen its position in the market for innovative materials.

Table of Contents

1. Report Summary

• Current Industry Analysis and Growth Potential Outlook
• 1.1. Research Methods and Tools
• 1.2. Market Breakdown
  • 1.2.1. By Segments
  • 1.2.2. By Region

2. Market Overview and Insights

• 2.1. Scope of the Report
• 2.2. Analyst Insight & Current Market Trends
  • 2.2.1. Key Market Trends
  • 2.2.2. Recommendations
  • 2.2.3. Conclusion

3. Competitive Landscape

• 3.1. Key Company Analysis
• 3.2. ExxonMobil Corp.
  • 3.2.1. Overview
  • 3.2.2. Financial Analysis
  • 3.2.3. SWOT Analysis
  • 3.2.4. Recent Developments
• 3.3. Koppers Inc.
  • 3.3.1. Overview
  • 3.3.2. Financial Analysis
  • 3.3.3. SWOT Analysis
  • 3.3.4. Recent Developments
• 3.4. Rain Industries Ltd.
  • 3.4.1. Overview
  • 3.4.2. Financial Analysis
  • 3.4.3. SWOT Analysis
  • 3.4.4. Recent Developments
• 3.5. Key Strategy Analysis

4. Market Segmentation

• 4.1. Global Naphthalene Market by Source
  • 4.1.1. Coal Tar
  • 4.1.2. Petroleum
• 4.2. Global Naphthalene Market by Application
  • 4.2.1. Phthalic Anhydride
  • 4.2.2. Naphthalene Sulfonates
  • 4.2.3. Low-Volatility Solvents
  • 4.2.4. Moth Repellent
  • 4.2.5. Pesticides
  • 4.2.6. Others (Concrete Admixtures, Dye Intermediates, Synthetic Resins, Tanning Agents, Lubricants, Disinfectants, Antiseptics, Emulsifying Agents, Wood Preservation Products and Specialty Chemicals)

5. Regional Analysis

• 5.1. North America
  • 5.1.1. United States
  • 5.1.2. Canada
• 5.2. Europe
  • 5.2.1. UK
  • 5.2.2. Germany
  • 5.2.3. Italy
  • 5.2.4. Spain
  • 5.2.5. France
  • 5.2.6. Rest of Europe
• 5.3. Asia-Pacific
  • 5.3.1. China
  • 5.3.2. India
  • 5.3.3. Japan
  • 5.3.4. South Korea
  • 5.3.5. Rest of Asia-Pacific
• 5.4. Rest of the World
  • 5.4.1. Latin America
  • 5.4.2. Middle East and Africa

6. Company Profiles

• 6.1. BASF SE
• 6.2. CARBOTECH
• 6.3. DEZA a. s.
• 6.4. Dong-Suh Chemical Ind. Co., Ltd
• 6.5. Epsilon Carbon Private Limited
• 6.6. EVRAZ plc
• 6.7. Gautam Zen International
• 6.8. Himadri Speciality Chemical Ltd.
• 6.9. Huanghua Xinnuo Lixing
• 6.10. JFE Chemical Corporation
• 6.11. Koppers Inc.
• 6.12. Merck KGaA
• 6.13. OCI Holdings Company Ltd.
• 6.14. PCC Rokita SA
• 6.15. Quimica del Nalon
• 6.16. Shandong Weijiao Group Co. Ltd.
• 6.17. TULSTAR PRODUCTS INC.