Global Naphthalene Derivatives Market: Snapshot

We all have seen white balls or cubes that are kept inside the cupboards. These white cubes or balls are naphthalene balls. The main purpose of these naphthalene balls it to keep the rodents and insects away from the clothes and other assets that are kept inside. Due to the commonness of their application, the global naphthalene derivatives market is expected to witness a substantial growth in the coming years of 2016 to 2024. Moreover, other derivatives of naphthalene are extensively used in industries for various purpose, which also influences the growth of the naphthalene derivatives market globally.

Let’s have a look at the industries that are prominent influencers of the global naphthalene derivatives market:

  • Textile Industry: Textile industry is one of the biggest customers of the global naphthalene derivatives market. The industry uses the compound for dying and bleaching the fabrics as per the client requirement. With the growth in the demand for various fabrics in both industrial and domestic sector, the demand for naphthalene derivatives has skyrocketed in recent years. This as a result, is expected to propel the growth of global naphthalene derivatives market.
  • Pharmaceutical Industry: The healthcare sector is witnessing massive improvements these days. The players of the industry are investing a massive amount in development of new drugs especially in the development of effective antimicrobial drugs. These drugs extensively use naphthalene derivatives to produce quality result. This is yet again another reason that is expected to boost the growth of global naphthalene derivatives market in coming years.

Based on these two industries, the players of global naphthalene derivatives market can generate huge profit and have a significant position in the global market of naphthalene derivatives. Moreover, they can also grow substantially in global naphthalene derivatives market by refining their research and development strategies.

Naphthalene Derivatives Market: Overview

The basic necessity for synthesis of naphthalene derivatives is a naphthalene compound, which could is a suitable precursor for obtaining naphthalene-based derivatives. Naphthalene derivatives are synthesized in two steps viz. ring closure by cyclization reaction, followed by aromatization. However, a number of modifications can be tried to synthesize different types of naphthalene derivatives. 

1, 6-Dihydroxynaphthalene, 1-Methylnaphthalene, 1-Naphthol, and 2-Naphthol are some examples of naphthalene derivatives. Several kinds of naphthalene derivatives are available in the market. 

Naphthalene derivatives are available in two basic forms: liquid and solid. The nature of application decides which form of derivative is to be used. The powdered form is used on a larger scale than the liquid form. 

Derivatives of naphthalene are available in different types such as alkyl; naphthalene sulfonates, naphthalene sulfonic acid, naphthalene formaldehyde condensates (SNF), and naphthols. 

Naphthalene Derivatives Market: Market Trends

Naphthalene derivatives have a wide range of application. They are used as chemical intermediates in industries such as textile, pharmaceuticals, rubber, photography, agrochemicals, detergents, and construction. In the textile sector, naphthalene derivatives are significant in the process of dyeing. Some naphthalene derivatives have insecticidal properties, which make them useful compounds in the agriculture sector. Naphthalene derivatives can function as plasticizers or dispensers and are used in the manufacture of good-quality concrete and plasterboards (i.e. drywall or wallboard). 

Another major application of naphthalene derivatives is the industrial synthesis of phthalic anhydride, which is a chemical intermediate in the synthesis of plastics from vinyl chloride. Phthalic anhydride is also used as a dye. 

Speedy growth of the textile industry is expected to drive the market for naphthalene derivatives during the forecast period. Construction is considered to be one of the speedily growing end-use application segments of the market for naphthalene derivatives. 

The rise in standards of living, constant urbanization, and increased R&D activities are expected to be major driving factors for the market for naphthalene derivatives in the near future. 

However, fluctuations in prices of crude oil and high level of toxicity associated with the use of naphthalene derivatives may prove to be a major restraint for growth of the market for naphthalene derivatives. 

Naphthalene Derivatives Market: Region-wise Outlook

The market for naphthalene derivatives in Asia Pacific is expected to witness speedy growth both in terms of volume and value. Various factors including presence of emerging economies such as China in the region, increasing investments by foreign countries, and high demand from textile and construction industries are anticipated to drive the naphthalene derivatives market in Asia Pacific during the forecast period. 
The naphthalene derivatives market in North America and Europe is expected to experience a moderate rate of growth, due to rules and regulations associated with the use of naphthalene derivatives. Also, the market for phthalic anhydride in these region is expected to experience a higher growth rate as compared to the market for naphthalene derivatives.  

The market in Latin America and Middle East & Africa is anticipated to witness a sluggish growth rate during the forecast period, owing to less number of end-user industries in these regions. 

Naphthalene Derivatives Market: Key Players

Some of the major players operating in the market for naphthalene derivatives include Clariant, Koppers Inc., BASF SE, Arkema Group, RUTGERS N.V., Evonik Industries AG, King Industries Inc., KAO Corporation, and Huntsman International LLC. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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