H1 2023: In H1 2023, prices of Naphthalene fluctuated in the Asia Pacific region. In H1 2023, China's naphthalene prices fluctuated due to the erratic nature of upstream crude oil prices. Furthermore, the APAC region's prices were affected by changing downstream demand from the textile sectors. Beginning from January, the Chinese market witnessed hike in prices. The new year lunar holidays in China and reduced economic activity in China. However, the price of naphthalene skyrocketed in April and May of 2023 in China. The tightened US supply of crude oil resulted in increased costs, which has driven up prices in the China market. In addition, it was noted that the demand for naphthalene was mild. However, the material's availability remained constant, which caused the material's price to rise. The trading fundamentals did, however, deteriorate in June 2023 as a result of sluggish buying activity and low demand by downstream sectors in China. On the other hand, Europe experienced sluggish market sentiments in H1 2023. Because of less cost pressure, the pricing trend for naphthalene in the European market stayed low during the first half of 2023. Production fell in the producing nations as a result of shipment delays caused by strikes in the European Union and a downturn in consumer demand. Moreover, downstream companies' product offtakes were moderate in Europe. Meanwhile, because of high inflation and inadequate economic growth, players in the European market were limited to trading during the first half of 2023.
H2 2023: In September 2023, the Avdiivka coke plant in the Donetsk region faced severe devastation as Russian forces carried out a bombing campaign, deliberately targeting this crucial industrial site. The reprehensible act resulted in a catastrophic situation, igniting the plant's remaining naphthalene stocks and causing widespread alarm. This deliberate aggression not only violated international norms but also exacerbated the already dire conditions in the conflict-ridden Donetsk region. The attack underscored the challenges faced by industrial facilities in conflict zones, with potential disruptions in production, infrastructure damage, and environmental hazards. During H2 2023, Asia Pacific region again leaded in terms of consuming naphthalene. Major naphthalene producers had reduced the operation rates of their production facilities due to sluggish demand and a diminished purchasing rates in Asia during H2 2023. In response to the unfavourable trend in the region, both regional and overseas providers had declared price reductions. Chinese market prices had continued to decline due to low inventory utilization and unfavourable benchmark futures. The predominant cause of reduced commerce in the region during the recessionary period had been sluggish demand. Expenditure had decreased, leading suppliers to make purchases based solely on necessity. The demand for naphthalene in the downstream chemical intermediate market was impacted by ample supply and robust demand. However, prices in the Chinese market had been decreasing till December 2023 due to weak purchase activities.
The global Naphthalene market stood at approximately 2250 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 3.1% during the forecast period until 2032.
Naphthalene is a volatile, fragrant, white, crystalline substance that can be extracted from petroleum or coal tar. It is utilized in the production of phthalic anhydride, insecticides, low volatility solvents, naphthalene sulfonates, and moth repellent, among other compounds. Naphthalene is mostly used to create chemicals and agrochemicals. Naphthalene is mostly utilized in the manufacturing of phthalic anhydride. In addition, it serves as an intermediary in the manufacturing of dyes, resins, insect repellents, and plasticizers. It is regarded as one of the most important industrial compounds utilized in the large-scale synthesis of plasticizers. Naphthalene based compounds have application in diverse industries, mostly as chemical intermediates in the textile, pharmaceutical, rubber-based product, imaging, agricultural chemicals, laundry detergent, and construction sectors. Naphthalene compounds are used in the textile industry for the dyeing process. Alkyl naphthalene sulfonates, derived from Naphthalene, are widely employed in the textile industry for bleaching and dying processes because of their soaking and defoaming qualities. A large percentage of commercial dyes are azo dyes, which are widely used in the textile sector. The construction industry is where naphthalene compounds are most frequently utilized because of their low volatility and low odour. Sulfonated naphthalene formaldehyde (SNF) is used in concrete mixtures by the construction industry as a superplasticizer. By neutralizing the surface charge on cement particles, SNF is employed in polymer-concrete admixtures, resulting in a decrease in paste and concrete viscosity and an increase in water bound up in cement agglomerations.
The demand for naphthalene is anticipated to rise during the forecast period due to growing use of naphthalene sulfonate formaldehyde in the construction industry as a plasticizer of different concrete admixtures and rising demand for other derivatives such as phthalic anhydride and low volatility solvents. Furthermore, the demand for naphthalene will rise during the projected period due to the use of naphthalene derivatives in textile dyeing. Naphthalene demand is increasing due to the increased demand for phthalic anhydride. In addition, the demand for naphthalene is anticipated to rise in the coming years due to the agrochemical industry's increasing need for naphthalene compounds to manufacture pesticides. Owing to these reasons, the global Naphthalene market is likely to reach approximately 3050 thousand tonnes in 2032.
The demand for naphthalene is highest in the Asia-Pacific area because of growing demand from end-use sectors including construction and textile. The Asia Pacific region's naphthalene market is expected to develop due in part to the rising per capita income and population expansion of emerging economies such as China and India, as well as the increasing number of goods that use naphthalene derivatives.
Based on the end-user industry, the global Naphthalene market is divided into Phthalic Anhydride, Azo Dyes, Naphthalene Sulphonic Acids, Alkylated Naphthalene Solvents, and Others. Among these, Phthalic Anhydride is the major segment and held about 34% of the global Naphthalene market in 2023 and is anticipated to prevail the similar trend in the upcoming years. Naphthalene Sulphonic Acids are commonly utilized as a water reducing agents in cement, paint disperse, and dye dispersing.
Major players in the Global Naphthalene market are BASF SE, CarbonTech Group, Deza A.S., Epsilon Carbon, Gautam Zen International, Exxon Mobil Corporation, Industrial Quimica del Nalon SA, Koppers Inc., JFE Chemical Corporation, PCC Rokita SA, Rain Carbon Inc., Wuxi Kingchan Bio-medical and Chemical Inc., and Wuxi Kinghan Bio Medical & Chemical Inc.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2032
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Objective of the Study:
• To assess the demand-supply scenario of Naphthalene which covers production, demand and supply of Naphthalene market in the globe.
• To analyse and forecast the market size of Naphthalene
• To classify and forecast Global Naphthalene market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Naphthalene market in the globe.
To extract data for Global Naphthalene market, primary research surveys were conducted with Naphthalene manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Naphthalene market over the coming years.
ChemAnalyst calculated Naphthalene demand across the globe by analyzing the volume of Naphthalene consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Naphthalene manufacturers and other stakeholders
• Organizations, forums and alliances related to Naphthalene distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Naphthalene manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Naphthalene market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
2250 thousand tonnes
Market size Volume in 2032
3050 thousand tonnes
Growth Rate
CAGR of 3.1% from 2024 to 2032
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Phthalic Anhydride, Azo Dyes, Naphthalene Sulphonic Acids, Alkylated Naphthalene Solvents, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Naphthalene market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Naphthalene.
3. Capacity By Location
To better understand the regional supply of Naphthalene by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Naphthalene by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Phthalic Anhydride, Azo Dyes, Naphthalene Sulphonic Acids, Alkylated Naphthalene Solvents, and Others) are creating a market and the forecast for the growth of the Naphthalene market.
7. Demand by Region
Analyzing the change in demand of Naphthalene in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Naphthalene. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Naphthalene.
10. Company Share
Figure out what proportion of the market share of Naphthalene is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Naphthalene.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Naphthalene in terms of volume in 2023?
Ans:
The global market size of Naphthalene has reached approximately 2250 thousand tonnes in 2023.
Q2.
Which industry is the leading consumer of Naphthalene?
Ans:
Phthalic Anhydride industry is the leading consumer of Naphthalene globally.
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