PUBLISHER: The Business Research Company | PRODUCT CODE: 1270488
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270488
“Nephthalene Derivatives Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on nephthalene derivatives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for nephthalene derivatives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The nephthalene derivatives market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the naphthalene derivatives market are Ruetgers Group, BASF SE, Huntsman International LLC., Koppers Inc., Arkema Group, Evonik Industries AG, Kao Corporation, Cromogenia-Units, S.A, Clariant, King Industries Inc., Cromogenia Units S.A., Carbon Tech Group, JFE Chemical Corporation, Rain Carbon Inc., Giovanni Bozzetto Spa, and Covestro AG.
The global napthalene derivatives market is expected to grow from $8.42 billion in 2022 to $9.07 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The napthalene derivatives market is expected to reach $11.70 billion in 2027 at a CAGR of 6.6%.
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 naphthalene derivatives refer to an aromatic hydrocarbon and the wetting agents that are extensively used as lubricants and wood-preserving compounds in various industries. It is useful as wetting agents and surfactants for dispersing colloids and increasing the solubility of hydrophobic substances, and as insecticides.
Asia-Pacific was the largest region in the napthalene derivatives market in 2022. The regions covered in the naphthalene derivatives report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of naphthalene derivatives are sulfonated naphthalene formaldehyde, phthalic anhydride, naphthalene sulphonic acid, naphthols, alkyl naphthalene sulphonates salts, and other product types. Sulphonated naphthalene formaldehyde refers to poly naphthalene sulfonates (PNS), which possess a negligible interaction with clay minerals. The various forms include liquid naphthalene derivatives and powder naphthalene derivatives obtained from various sources such as coal tar, petroleum and others. These are used in construction, agrochemicals, textiles, oil and gas, paints and coatings, pulp and paper, pharmaceuticals and others.
The growing textile industry is expected to drive the naphthalene derivatives market going forward. The textile industry refers to the fields of research, design, development, production, and distribution of textiles, fabrics, and apparel. The market for naphthalene is growing as a result of rising living standards supported by high discretionary income, which translates to spending on fabrics and textiles where it is utilized in material dyeing and bleaching. For instance, according to Textile World, a US-based textile magazine, in 2021, the US textile industry had shown robust growth with fiber, textile, and apparel exports totaling $28.4 billion, up from $25.3 billion in 2020. Therefore, increasing demand from the textile industry drives 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.
In October 2022, Clariant, a Switzerland-based chemicals company acquired BASF's U.S. Attapulgite business assets for a deal amount of US$60 million. With this acquisition, Clariant strengthens its attapulgite chemicals portfolio and increases its production capacity to be able to meet the growing demand for renewable fuels and supply integrity to edible oils, and extends its footprint in North America. BASF is a Germany-based company manufacturing various chemicals including naphthalene derivatives that are used in various applications.
The countries covered in the naphthalene derivatives market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The naphthalene derivatives market research report is one of a series of new reports from The Business Research Company that 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 derivativesmarket research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.