PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410133
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410133
The naphthalene derivatives market is expected to grow at a CAGR of 3.4% from US$1,843.452 million in 2021 to US$2,329.901 million in 2028.
Naphthalene derivatives are widely employed in the agrochemical, textile, and construction sectors due to their odourless nature combined with low volatility. The availability of naphthalene derivatives in a variety of compositions, such as salts, alcohols, and others, is projected to spur market expansion due to their expanded range of industrial applications. Due to people's changing lifestyles and increased investment in the textile and construction industries, it is projected that growing industrialization and urbanization would lead to market expansion. The availability of various salts and acids and the discovery of new naphthalene compounds are predicted to accelerate naphthalene derivatives market growth.
Due to their soaking and defoaming properties, alkyl naphthalene sulfonates are frequently used in the textile sector for bleaching and dying procedures. Azo dyes, which make up a sizable portion of commercial dyes, are widely utilised in the textile industry. Alkyl naphthalene sulfonates are used as a precursor in different colours. They come in a variety of colours and are used for various materials. As intermediates in the manufacture of dyes, some of the other naphthalene derivatives, such as naphthylamines and sulfuric acid salts, are also helpful which is increasing the naphthalene derivatives market size.
Due to their low volatility and lack of odour, naphthalene derivatives are most commonly used in the construction industry. The construction industry's significant use of naphthalene to increase the smoothness of solid mixes in concrete and strengthen the structure's framework is predicted to drive the expansion of the worldwide naphthalene derivatives market over the course of the forecast period. Due to its application as a superplasticizer in concrete mixtures in the construction industry, sulfonated naphthalene formaldehyde (SNF) accounted for the greatest market share among the derivatives and is predicted to rule the market studied over the projected period.
In the pharmaceutical industry, naphthalene derivatives are used to create new pharmaceuticals and therapies. Therefore, the growing interest in medicinal chemistry research for the development of medicines with low toxicity is projected to increase demand for naphthalene derivatives in the upcoming years. Furthermore, naphthalene derivatives are also used to cure a range of neurological problems in mammals including acute neurological conditions such as cerebral impairments after cardiac bypass surgery and grafting, stroke, cerebral ischemia, and spinal cord damage as a result of trauma or other diseases.
During the projected period, the Asia Pacific region is anticipated to lead the naphthalene derivatives market. The textile and apparel industries are heavily concentrated in APAC, which also has the greatest population in the world. The expansion of the economy has improved consumer spending power, driving up per-capita consumption of commodities, including textiles, which is driving the rise in the APAC textiles industry. Due to its low production costs, China is the world's top manufacturer and exporter of textiles and garments. Singapore serves as a regional centre for the textile industry. The textile sector in APAC benefits greatly from Indonesia's garment industry.
Naphthalene and its derivatives can be discharged into the air via moth repellent, cigarette smoke, wood burning, and accidental spills, creating environmental risks. Soil particles easily absorb naphthalene and its compounds into water. They are easily able to vaporize into the atmosphere due to their volatility. In the presence of moisture and sunlight, naphthalene is readily transformed into 1- or 2-naphthol, which may rise the air toxicity and provide a number of health risks. Hemolytic anaemia, liver, and brain damage can result from acute exposure to naphthalene through ingesting, inhalation, or skin contact. In both humans and rats, chronic naphthalene exposure can result in retinal damage. which impedes the naphthalene derivatives market.
Petroleum (crude oil) and coal tar distillation are the two main sources used in the production of naphthalene and its derivatives. About 90% of naphthalene and its derivatives are produced through the distillation of coal tar. Industrial naphthalene demand has been significantly impacted by changes in coal tar costs and usage, which presents a challenge to the market. Due to its recent rapid expansions, China, a significant producer of deep-processed coal tar products such as naphthalene, cresol, anthracene, and phenol, was forced to deal with massive overcapacity. Due to the imbalance in supply and demand, coal tar prices consequently fell dramatically.