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Naphthalene Market: Industry Size, Share, Analysis and Forecast 2021 | Hexa Research

Naphthalene Market: Industry Size, Share, Analysis and Forecast 2021 | Hexa Research

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Latest Research on Naphthalene Market Size, Market Share, Application Analysis, Regional Outlook, Growth, Trends, Competitive Scenario and Forecasts 2021

Naphthalene is obtained from crude oil or coal tar and is a bicyclic aromatic compound which is in white crystalline form with properties such as colorlessness and low solubility in liquids like water. In chemical industry, naphthalene is particularly obtained from coal tar as well as from petroleum pyrolysis. In terms of chemistry, naphthalene is an organic compound and is a simple polycyclic aromatic hydrocarbon. Being an aromatic hydrocarbon, naphthalene’s structure comprises a combined pair of benzene ring sharing two carbon atoms in the ortho position. Therefore, naphthalene can be determined as a combined pair of benzene rings.

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The production process of naphthalene involves distillation. Once the coal tar distillates it yields and oil that contains 50% naphthalene along with other major aromatic compounds. The oil is washed with aqueous sodium hydroxide to eliminate acidic components and with sulfuric acid to eliminate basic components which later on gives fractional distillation to give naphthalene.

Uses of naphthalene include medication owing to non-toxic nature and presence of nutritive ingredients. It is used as a remedy against skin rashes, burns, sores and cuts and is also used as a laxative. It is used in tobacco humectants, cosmetics and personal beauty products. Further, the uses get extend to applications like creams, hair care products, sugar free gums, mouthwashes, toothpastes owing to its hygroscopic nature.

On a commercial basis, the use of naphthalene in pharmaceutical industry will grow due to its unique characteristics. Therefore, naphthalene market is bound to grow during the forecast period. The key driving factors attributing to the growth of global naphthalene market includes rise in standards of living, rapid urbanization and extensive R&D activities. Additionally, speedy growth of textile industry contributes to the growth of naphthalene market during the forecast period. Construction segment is anticipated to be one of the driving factors for the market growth. However, variations in prices of crude oil and associated toxicity with the intense use of naphthalene are among the major limitations for the market growth.

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On the basis of derivatives, the global naphthalene market is segmented into 1-Naphthol, 2-Naphthol and Phthalic anhydride. On the basis of application, the global naphthalene market is segmented into paints & coatings, agrochemicals and fumigant. On the basis of end-user, the global naphthalene market is segmented into construction, agriculture, chemicals, food & beverages and healthcare.

On the basis of geographic segmentation, the global naphthalene market spans North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa. APAC regions are anticipated to grow at a higher CAGR during the forecast period owing to emerging economies such as China and increasing investments by foreign countries. Rising demands from textile and construction industries are anticipated to drive the naphthalene market in APAC regions during the forecast period.

North American and European market is estimated to grow at a moderate CAGR owing to associated rules and regulations with the use of naphthalene& also the market for phthalic anhydride in these regions is anticipated to grow at a higher CAGR. Latin America, Middle-East and African markets are anticipated to grow at a lower CAGR owing to minimum presence of end-user industries in these regions. The key players in the global naphthalene market include BASF SE, Arkema Group, Clariant, Koppers Inc., Evonik Industries AG, King Industries Inc., KAO Corporation, RUTGERS N.V., and Huntsman International LLC.

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