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Naphthalene Derivatives Market’s Opportunities & Challenges

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Naphthalene Derivatives Market’s Opportunities & Challenges

October 24
00:36 2019
Naphthalene Derivatives Market’s Opportunities & Challenges

Browse 75 market data Tables and 35 Figures spread through 143 Pages and in-depth TOC on “Naphthalene Derivatives Market”
Naphthalene Derivatives Market by Form (Powder, Liquid), Derivative (SNF, Phthalic Anhydride, Naphthalene Sulfonic Acid, Alkyl Naphthalene Sulfonates, Naphthols), End-Use Industry (Construction, Agrochemicals), and Region

The naphthalene derivatives market size, in terms of value, was worth USD 1,481.4 million in 2016 and is projected to reach USD 1,852 million by 2022, at a CAGR of 3.8% between 2017 and 2022. In terms of volume, the market size was estimated to be 1,679.6 kilotons in 2016 and is projected to reach 1,976.7 kilotons by 2022, at a CAGR of 2.8% during the forecast period. The growing demand for naphthalene derivatives from the textiles and agrochemical industries in the APAC region and global increase in the use of SNF in construction are the key factors responsible for the growth of the naphthalene derivatives market.

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Browse 75 market data Tables and 35 Figures spread through 143 Pages and in-depth TOC on “Naphthalene Derivatives Market

What are the opportunities because of the wide-scale applications of naphthalene derivatives?

Naphthalene derivatives are used in a wide variety of end-use industries such as building & construction, agrochemicals, textiles, detergent, oil & gas, paints & coating, pulp & paper, pharmaceuticals, rubber synthesis, and leather tanning. Among these industries, the building & construction industry is growing rapidly in the emerging countries, globally, which will play a significant role in providing growth opportunities to the naphthalene derivatives in the future. Naphthalene derivatives are extensively used in agrochemical industries as insecticides and pesticides. 1-naphthyl-N-methylcarbamate (carbaryl) is one of the major insecticides used in the agricultural industry. Naphthalene acetic acid is used as growth regulators in plants enhancing the yield of cereals.

Alkyl naphthalene sulfonates (ANS) is used as wetting agents that effectively disperse colloidal systems in aqueous media. The major commercial applications of ANS are in the textiles industry, which uses the wetting and defoaming properties of ANS for bleaching and dying operations. The amino naphthalene sulfonic acids, substituted with amines and sulfonic acids, are intermediates used in the preparation of many synthetic dyes. Naphthalene sulfonic acids are used in the synthesis of 1-naphthol and 2-naphthol, which are the precursors for various pigments, dyestuffs, rubber processing chemicals, and other chemical and pharmaceutical products. In Croatia, naphthalene derived from a natural mineral oil after distillation is used to treat skin diseases, including eczema. Therefore, the increasing use of naphthalene derivatives in different end-use industries will create high growth opportunities for the market.

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Challenges caused by fluctuating energy prices and overcapacity in China?

Naphthalene and its derivatives are manufactured mainly from two routes coal tar distillation and petroleum (crude oil). Approximately, 90% of the naphthalene and its derivatives are manufactured from coal tar distillation. Fluctuation in coal tar prices and its consumption has affected industrial naphthalene demands severely, thereby posing a challenge to the market. China, a major producer of deep processed coal tar products such as naphthalene, cresol, anthracene, and phenol, faced massive overcapacity owing to its rapid expansions in the recent years. Thus, coal tar prices declined significantly owing to demand-supply imbalance. However, in the beginning of 2016, the coal tar prices increased, and this trend continued until September 2017. This was supported by cutting down of excess capacity and growth in utilization of carbon pitch products and naphthalene derivatives.

The second route of manufacturing naphthalene from crude oil contributes to about 10% of the overall naphthalene production. The fluctuation in its price is most likely to hamper the naphthalene export and import globally. Naphthalene is produced in one of the fractions during distillation of crude oil. Therefore, the reduction in the cost of raw feedstock affects the cost incurred to produce chemicals. The decreasing crude oil prices will show an immediate and significant impact on the cost structures of naphthalene and its derivatives. For most commodity chemicals, including naphthalene, the production costs of the small-scale producer will increase, which will, in turn, increase the prices of these chemicals. Thus, fluctuation in naphthalene prices because of the decline in crude oil prices gives leverage to the naphthalene manufacturers gain a profit margin by increasing prices.

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