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市场调查报告书
商品编码
1519987
全球萘市场2024-2031Global Naphthalene Market 2024-2031 |
按来源(煤焦油和石油)和应用(邻苯二甲酸酐、萘磺酸盐、低挥发性溶剂、防蛀剂、杀虫剂等)分類的萘市场规模、份额和趋势分析报告,预测期(2024-2031)。
预计在预测期(2024-2031年)萘市场将以8.4%的复合年增长率成长。萘是一种白色结晶化合物,具有强烈、独特的气味。它是从煤焦油或石油中提取的,通常用作防蛀剂和除臭剂。支持市场成长的主要因素是其在各行业的多功能应用以及市场参与者扩大支持市场需求的能力。
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
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.
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.
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.