Naphthalene Market Driven by Growing Demand in Construction, Household Cleaning Applications

Pune, India, February,2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Naphthalene Market.

Overview:

Market Research Future (MRFR) announces a new release on the global naphthalene market. The global naphthalene market’s historical growth trajectory is fully analyzed in the report, which also presents reliable forecasts about the market’s growth prospects over the forecast period from 2023 - 2032 on the backs of the information gained from an analysis of the market’s key drivers and restraints. Key segments and leading players in the global naphthalene market are also profiled in the report to provide readers with an inside track into the development prospects of the market.

The global naphthalene market is mainly driven by the growing demand from the construction industry, and the growing demand for household cleaners and pesticides containing naphthalene. The use of naphthalene in construction has driven the market across developing regions such as Asia Pacific, where new construction has risen up at rapid rates over the last few years. Growing demand for residential as well as infrastructural construction in developing economies in the region is likely to be a major driver for the global naphthalene market over the forecast period.

The growing demand for household cleaners containing naphthalene is also likely to be a major driver for the global naphthalene market over the forecast period. The use of naphthalene in mothballs is also a key driver for the global naphthalene market, as it ensures a steady demand for naphthalene in urban centers across the world. The growing disposable income of consumers in Asia Pacific has resulted in increasing expenditure on household cleaners, which is likely to be a major driver for the global naphthalene market over the forecast period, as the role of naphthalene as a germicide and pest repellant is crucial to the success of household cleaners. The growing demand for naphthalene-based fertilizers in the agriculture sector is also likely to be a major driver for the global naphthalene market over the forecast period due to the growing need to reduce the damage done to plants by insects.

Segmentation:

The global naphthalene market is classified on the basis of source, application, end use, and region.

On the basis of source, the market is divided into coal tar and petroleum.

On the basis of application, the market is segmented into surfactant & wetting agents, plasticizers, pesticides, and others.

On the basis of end use industries, naphthalene market is segmented into agriculture, building & construction, household cleaning, textile and others such as healthcare and personal care sectors. Building and construction holds the dominant share in the global naphthalene market, holding 40% of the market in 2016. Agriculture and household cleaning follow building and construction in the global naphthalene market’s charts and are also likely to remain key application segments for the global naphthalene market over the forecast period.

Regional Analysis

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The global naphthalene market is segmented into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific on the basis of region.

The global naphthalene market is dominated by Asia Pacific in terms of sales volume and revenue due to the growing disposable income of consumers in the region and the growing number of households in the region. Growing residential construction in the region is likely to be a major driver for the global naphthalene market over the forecast period, as rising rural-urban migration has resulted in a need for a growing number of residential housing projects. The rising demand for mothballs and other household cleaning products in Asia Pacific is also likely to be a major driver for the global naphthalene market, as urban centers in the region are likely to grow rapidly over the forecast period, adding to the demographic of urban consumers and enabling rapid growth of the naphthalene market in the region. Asia Pacific is also expected to exhibit the fastest growth rate over the forecast period, further extending its lead at the top of the pile in the global naphthalene market.

Competitive Analysis:

Leading players in the global naphthalene market include Koppers Inc., Merck KGaA, PCC Rokita SA, DEZA a.s., Wuxi Kinghan Biomedical & Chemical Inc., Compro Shijiazhuang Fine Chemical Co., SAIL, Carbon Tech & Sepahan Chimie Complex, Industrial Quimica del Nalon S.A., and Rutgers N.V.

Industry Updates:

In January 2019, the UK’s REACH authority called for lower OELs for naphthalene. This could make the substance more expensive in the country, potentially affecting the market in the region.

Browse Complete Report @ naphthalene market