The global Naphthol Market is anticipated to grow at a significant CAGR of 3.8% during the forecast period (2022-2028). A hydroxyl group is linked to a naphthalene ring to form naphthol. 1-naphthol and 2-naphthol are two isomers of naphthol (compounds with the same chemical formula but differing atom connectivity). The hydroxyl group is linked to a different carbon in the naphthalene ring in the two isomers. It is used in pharmacies such as tanning agents, antioxidants, and antiseptics. Additionally, used in dyes and spices, among others.Major factors driving the market are growing demands coming from the dyes and pigments industry. Furthermore, the increased use of inorganic pigments as colorants in plastic is fueling market expansion.
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Several researches are in-line which generates growth opportunities for the market. For instance, in October 2020, The CSIR-Central Leather Research Institute has created a synthetic tanning chemical that does not include the hazardous formaldehyde that is normally used to improve leather quality. On the leather, formaldehydeis used to crosslink or connect two chemical components, byleavingbehind a residue. Long-term exposure to this colorless gas, that additionally, employed as a preservative in seafood but is prohibited in many countries, may be detrimental to humans, while its discharge is poisonous to aquatic life.
The governments across the globe are also significantly supporting the growth of the market.For instance, in January 2022, the Union Minister of State for Commerce and Industry, launched the online platform for spice export at a hybrid event in Kochi. According to Spice Xchange India, it is India’s first internet platform for spice exports.spices have contributed significantly to India’s export basket, and India currently has a leading share inthe globalspice industry, exporting 225 distinct spices and spice products to more than 180 nations.Such government initiatives will drive the demand for naphthol in spices segment.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product
- By End-Users
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Arkema Group, Clariant AG, Koppers, Giovanni Bozzetto S.P.A., and King Industries, Inc., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Naphthol Market Report by Segment
By Product
- Pharmaceutical Grade
- Chemical Grade
By End-Users
- Medicine
- Dye
- Spices
- Other
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