Global naphthalene market is anticipated to grow at a CAGR of 8.4% during the forecast period (2024-2031). A major factor supporting the market growth is its versatile applications across various industries. Naphthalene serves as a crucial raw material in the production of a wide range of chemicals, including phthalic anhydride, naphthalene sulfonates, and low-volatility solvents. Additionally, it finds extensive use in moth repellents and pesticides. The diverse utility of naphthalene in these sectors, combined with its properties such as high purity and effectiveness, drives its demand globally.
Global market players are driving the market through partnerships and expansions are also supporting market growth. For instance, in November 2022, Sulzer Chemtech Ltd. entered into a partnership with Dong-Suh company in Indonesia to advance the naphthalene downstream industry. Sulzer Chemtech will provide process engineering expertise and essential equipment to facilitate the establishment of a cutting-edge separation unit at Dong-Suh’s plant in Serang, Indonesia. This strategic initiative aims to enhance the production of highly pure naphthalene, thereby bolstering the company’s capabilities in the region’s burgeoning naphthalene market.
In September 2022, Epsilon Carbon announced a significant expansion in its carbon black production capacity. With a new investment of approximately $71.0 million in Karnataka, India, Epsilon Carbon plans to increase its annual carbon black production capacity from 115,000 tons to 215,000 tons. This expansion project not only signifies Epsilon Carbon’s commitment to meeting growing market demand but also underscores the versatile applications of naphthalene derived from carbon black feedstock, including the production of phthalic anhydrides, pesticides, and concrete plasticizers.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Source
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Koppers Inc., Rain Industries Ltd., Himadri Speciality Chemical Ltd., EVRAZ plc, and Exxon Mobil Corporation, among others.
Naphthalene Market Report Segment
By Source
- Coal Tar
- Petroleum
By Application
- Phthalic Anhydride
- Naphthalene Sulfonates
- Low-Volatility Solvents
- Moth Repellent
- Pesticides
- Others (Concrete Admixtures, Dye Intermediates, Synthetic Resins, Tanning Agents, Lubricants, Disinfectants, Antiseptics, Emulsifying Agents, Wood Preservation Products and Specialty Chemicals)
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Company Profiles
- BASF SE
- CARBOTECH
- DEZA a. s.
- Dong-Suh Chemical Ind. Co., Ltd
- Epsilon Carbon Private Limited
- EVRAZ plc
- Gautam Zen International
- Himadri Speciality Chemical Ltd.
- Huanghua Xinnuo Lixing
- JFE Chemical Corporation
- Koppers Inc.
- Merck KGaA
- OCI Holdings Company Ltd.
- PCC Rokita SA
- Química del Nalón
- Shandong Weijiao Group Co. Ltd.
- TULSTAR PRODUCTS INC.
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