Naphthalene Derivatives Global Market Report 2024

The global naphthalene derivatives market has grown strongly in recent years. It will grow from $9.05 billion in 2023 to $9.79 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth observed in the past can be linked to historical advancements in the chemical industry, expansions within the dye and pigment sectors, utilization in plasticizers and polymers, involvement in pesticides and agrochemicals, as well as significant contributions to the construction industry.

The global naphthalene derivatives market is expected to see strong growth in the next few years. It will grow to $13.04 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The projected expansion can be credited to the upsurge in the textile dyeing sector, advancements in construction material innovation, heightened demand within the electronics industry, the uptick in eco-friendly chemistry initiatives, and expanded exploration into pharmaceutical applications. Key trends anticipated in this period involve pioneering solutions, strategic partnerships, a concentrated emphasis on healthcare and pharmaceutical sectors, increased exploration within agrochemicals, and the emergence of high-performance polymers.

The growth expected in the naphthalene derivatives market is closely tied to the expansion of the textile industry. This sector encompasses research, design, production, and distribution of textiles and apparel. Increasing living standards and higher discretionary income drive spending in fabrics and textiles, utilizing naphthalene derivatives for dyeing and bleaching. As per the National Council of Textile Organizations (NCTO) report in May 2023, the U.S. textile sector witnessed a notable increase in shipments, reaching $65.8 billion in 2022 from $64.04 billion in 2021. The surge in U.S. exports of textiles and apparel to the Western Hemisphere notably contributed to the rising demand propelling the naphthalene derivatives market.

The burgeoning construction sector is poised to significantly impact the naphthalene derivatives market. These derivatives, instrumental in producing concrete additives like superplasticizers and plasticizers, enhance concrete's durability and workability, thereby fostering heightened demand in construction. Notably, a report by the UK's Office for National Statistics in March 2023 highlighted a 0.3% increase in quarterly construction production in Q4 2022 compared to Q3 2022. Moreover, after a remarkable 12.8% growth in 2021, the annual construction production witnessed a 5.6% rise in 2022 over 2021. This growth trajectory in construction directly fuels the expansion of the naphthalene derivatives market.

Technology advancement is a key trend gaining popularity in the naphthalene derivatives market. Major companies in the naphthalene derivatives market are advancing with their new technology, such as Ecofining technology, in the naphthalene derivatives market. For instance, Honeywell, a US-based company operating in naphthalene derivatives introduced UOP Ecofining, a new technology that produces renewable naphtha for petrochemical manufacturing. The novel route may produce high yields of naphtha by utilizing environmentally friendly feedstocks such as recycled cooking oil and animal fats. The created Naphtha is an important petrochemical feedstock used to make plastics, notably olefins which serve as the basis for other chemicals and aromatics that are used to make polyester and other packaging materials.

Prominent players in the market are channeling their focus toward manufacturing naphthalene derivatives, particularly specialized units like Purified 2,6-Naphthalene Dicarboxylic Acid (PNDA) production facilities, aiming to gain a competitive edge and broaden their client base. These production units are designed for crafting specific chemical compounds, including naphthalate polymers, and their purification is critical to achieving a high degree of chemical purity. An exemplar is the establishment by Indorama Ventures Xylenes & PTA, LLC (IVXP), a Thailand-based chemical producer, of a new PNDA production unit in June 2021. This move cemented IVXP's position as the world's leading PNDA producer, strategically situated at their integrated manufacturing site in Decatur, Alabama, U.S. The unit, developed using in-house technology and predominantly sourced equipment from the U.S., operates as a state-of-the-art facility ensuring PNDA production at an exceptional purity level of 99.8%, with minimal metal and organic content. With the capacity to meet current and future global demands over the next decade, IVXP's PNDA unit complements its status as the primary large-scale commercial producer of NDC (Dimethyl 2,6-Naphthalene Dicarboxylate) monomers. IVL not only specializes in PNDA and NDC but also offers a diverse array of naphthalate polymers like polyethylene naphthalate (PEN), PEN-copolymers, polybutylene naphthalate (PBN), and other specialized naphthalates.

In October 2022, Clariant, a Swiss chemical enterprise, finalized the acquisition of BASF's U.S. Attapulgite business assets for a sum of US$60 million. This strategic move bolsters Clariant's attapulgite chemicals portfolio, enhances production capabilities to cater to the escalating demand for renewable fuels and ensure reliability in the supply chain for edible oils. Additionally, it serves to expand Clariant's presence and operations in North America. BASF, headquartered in Germany, is a manufacturer of diverse chemicals, including naphthalene derivatives utilized across various industrial applications.

Major companies operating in the naphthalene derivatives market report are Rutgers Chemicals GmbH, BASF SE, Huntsman International LLC, Koppers Inc., Arkema SA, Evonik Industries AG, Kao Corporation, Cromogenia-Units SA, Clariant AG, King Industries Inc., Carbon Tech Group Ltd., JFE Chemical Corporation, Rain Carbon Inc., Giovanni Bozzetto Spa, Covestro AG, Himadri Specialty Chemical Ltd., Nippon Steel Chemical & Material Co. Ltd., Merck Co. & KGaA, Sinopec Shanghai Petrochemical Company Limited, Shandong Hongyuan Chemical Co. Ltd., Asahi Kasei Corporation, Biosynth Carbosynth Ltd., Nouryon Chemicals (Jiaxing) Co. Ltd., LG Chem Ltd., Eastman Chemical Company, Wanhua Chemical Group Co. Ltd., Saudi Basic Industries Corporation, Chevron Phillips Chemical Company

Asia-Pacific was the largest region in the naphthalene derivatives market share in 2023. The regions covered in the naphthalene derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the naphthalene derivatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Naphthalene derivatives encompass various types such as phthalic anhydride, naphthalene sulphonic acid, naphthols, alkyl naphthalene sulphonates salts, and other product variations. These derivatives, derived from sources like coal tar and petroleum, find extensive use in multiple industries including construction, agrochemicals, textiles, oil and gas, paints and coatings, pulp and paper, pharmaceuticals, and more.

This report provides naphthalene derivatives market statistics, including naphthalene derivatives industry global market size, regional shares, competitors with a naphthalene derivatives market share, detailed naphthalene derivatives market segments, market trends and opportunities, and any further data you may need to thrive in the naphthalene derivatives industry. This naphthalene derivatives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The naphthalene derivatives market consists of sales of sulfonated melamine-formaldehyde condensates (SMF), modified lignosulfonates (MLS), sodium 1-naphthalenesulfonate, ethyl naphthalene sodium sulfonate, and propyl group sodium naphthalene. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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