Naphthalene Market Size To Reach $6,091.90 Million By 2030

Naphthalene Market Growth & Trends

The global naphthalene market size is anticipated to reach USD 6,091.90 million by 2030 and is projected to grow at a CAGR of 3.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is experiencing growth due to increased demand from various industries such as construction, agrochemicals, and pharmaceutical. The market is expected to continue growing in the near future, primarily due to the rising demand for the production of naphthalene sulfonates.

The increasing demand for naphthalene sulfonate has led to significant growth in various industries, especially in the construction sector. Naphthalene sulfonate is an essential ingredient in producing naphthalene-based admixtures, which are widely used in the construction industry to improve the performance of concrete. The admixtures make the material more durable and resistant to environmental factors. The market growth is driven by the rising demand for sustainable construction materials and the need for better infrastructure development.

The coal tar application segment dominated the global market with the largest revenue share of over 62.80% in 2023. This growth is attributed due rising demand for naphthalene derivatives in various industries, particularly in the construction sector.

The phthalic anhydride segment dominated the global market with the largest revenue share in 2023. The market growth is attributed to the increasing demand for plasticizers from PVC manufacturers, as well as the growing demand for PVC products in the building and construction industry. The surge in automobile production, especially electric vehicles, has led to an increase in demand for PVC from the automotive industry for manufacturing PVC products.

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Naphthalene Market Report Highlights

• Based on source, the coal tar segment led the market with the largest revenue share of 62.80% in 2023. This growth is attributed to coal tar being commonly used production method of naphthalene

• Based on application, the phthalic anhydride accounted with the revenue share in 2023. The surge in automobile production, especially electric vehicles, has led to an increase in demand for PVC from the automotive industry for manufacturing PVC products

• Asia Pacific dominated the market with the revenue share of 67.50% in 2023 and maintains a dominating position in the global market. This growth is attributed to the rising industrial growth and development in sectors such as automotive, textile and pharmaceuticals are the one of the primary reasons for the rise in naphthalene demand as it is widely used in the industries in production of various products

• In November 2022, Sulzer Chemtech Ltd. will provide process engineering and necessary equipment to Dong-Suh Company in Indonesia to facilitate the growth of the naphthalene downstream industry. With the installation of a state-of-the-art separation unit at the Dong-Suh plant in Serang, Indonesia, it will become easier to produce highly pure naphthalene.

Naphthalene Market Segmentation

Grand View Research has segmented the global naphthalene market report based on source, application, and region:

Naphthalene Source Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Coal Tar

• Petroleum

Naphthalene Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Phthalic Anhydride

• Naphthalene Sulfonates

• Low-Volatility Solvents

• Moth Repellent

• Pesticides

• Other Applications

Naphthalene Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

List of Key Players in the Naphthalene Market

• Rain Carbon Inc.

• ExxonMobil Corporation

• Epsilon Carbon Private Limited

• CARBOTECH

• DEZA a.s.

• JFE Chemical Corporation

• Koppers Inc.

• PCC Rokita SA

• Gautam Zen International

• Dong-Suh Chemical Ind. Co., Ltd.

• TULSTAR PRODUCTS INC.

• Quimica del Nalon S.A.