The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global naphthalene derivatives market is poised for significant growth, with projections indicating an increase from $8.42 billion in 2022 to $9.07 billion in 2023, reflecting a Compound Annual Growth Rate (CAGR) of 7.7%. Looking ahead, the market is anticipated to reach $11.70 billion in 2027, showcasing a CAGR of 6.6%. One of the primary drivers of this growth is the expanding textile industry. This blog explores how the textile sector’s surge and technological advancements are shaping the landscape of the naphthalene derivatives market.

Textile Industry Powering Growth

• Textile Industry Overview:
  • Encompasses research, design, development, production, and distribution of textiles, fabrics, and apparel.
  • Central to the market for naphthalene derivatives due to its usage in material dyeing and bleaching.
• Driving Forces:
  • Rising Living Standards: High discretionary income leading to increased spending on fabrics and textiles.
  • Global Textile Growth: In 2021, the US textile industry witnessed robust growth, with exports totaling $28.4 billion, up from $25.3 billion in 2020.
• Market Impact: The heightened demand from the textile industry acts as a catalyst for the expansion of the naphthalene derivatives market.

Major Players in the Naphthalene Derivatives Market

• Prominent Market Players:
  • Ruetgers Group
  • BASF SE
  • Huntsman International LLC.
  • Koppers Inc.
  • Arkema Group
  • Evonik Industries AG
  • Kao Corporation
  • Cromogenia-Units, S.A
  • Clariant
  • King Industries Inc.
  • Cromogenia Units S.A.
  • Carbon Tech Group
  • JFE Chemical Corporation
  • Rain Carbon Inc.
  • Giovanni Bozzetto Spa
  • Covestro AG

• Strategic Initiatives: Companies are actively engaging in technology advancements, partnerships, and continuous research and development.

Trend: Technology Advancement Takes Center Stage

• Focus on Technological Innovation:
  • Example: Honeywell, a US-based company, introduced UOP Ecofining, a groundbreaking technology producing renewable naphtha for petrochemical manufacturing.
• Ecofining Technology:
  • Utilizes environmentally friendly feedstocks like recycled cooking oil and animal fats.
  • Yields high-quality naphtha, a crucial petrochemical feedstock for plastics production.
• Market Impact: Technological advancements contribute to the market’s evolution and sustainability, meeting the demands of environmentally conscious practices.

Segmentation of the Naphthalene Derivatives Market

1. By Product Type:
   • Sulphonated Naphthalene Formaldehyde
   • Phthalic Anhydride
   • Naphthalene Sulphonic Acid
   • Naphthols
   • Alkyl Naphthalene Sulphonates Salts
   • Other Product Types
2. By Form Type:
   • Liquid Naphthalene Derivatives
   • Powder Naphthalene Derivatives
3. By Source Type:
   • Coal Tar
   • Petroleum
   • Other Source Types
4. By End-Use Industry Type:
   • Construction
   • Agro-Chemicals
   • Textiles
   • Oil and Gas
   • Paints and Coatings
   • Pulp and Paper
   • Pharmaceuticals
   • Other End-Users
5. Market Dominance: Asia-Pacific emerges as the largest region in the naphthalene derivatives market share in 2022.

Future Outlook: Navigating Growth Paths

• Anticipated Market Size: The global naphthalene derivatives market is projected to reach $11.70 billion in 2027.
• CAGR for 2023-2027: A projected growth rate of 6.6%, indicating sustained expansion.

View More On The Nephthalene Derivatives Market Report 2023 – https://www.thebusinessresearchcompany.com/report/nephthalene-derivatives-global-market-report

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The Nephthalene Derivatives Global Market Report 2023  provides comprehensive insights on the nephthalene derivatives market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the nephthalene derivatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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