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The global naphthalene market is expected to witness a CAGR of nearly 3% during the forecast period, 20182023. Asia Pacific accounts for the largest market share, globally, because of vast demand from China;,followed by Europe and America.
Naphthalene can be sourced from either coal tar or petroleum. More than 90% of the world's naphthalene is produced using coal tar because of high naphthalene content of 10%, compared to 2% in petroleum. Naphthalene is mostly used to produce other organic compounds, like phthalic anhydride and naphthalene sulfonates.
Naphthalene Sulphonate Formaldehyde NSF Demand Driving the AsiaPacific Region
China, along with Japan and India, accounts for more than 50% of the market because of rising demand for naphthalene sulphonate formaldehyde NSF. India has a good potential for the naphthalene market because of rising construction activities, foreign investments, and rapid urbanization.
Construction Industry Dominates the EndUser Segments
The naphthalene market, by enduser industry, can be segmented into construction, agrochemical, petrochemical, textile, and others. The construction segment is expected to increase because of growing demand for naphthalene sulfonateformaldehyde in concrete admixtures. Also, the textile segment is showing potential for growth in the future because of increasing usage as a wetting agent.
Substitutes Hampering the Market Growth
Naphthalene market is facing some challenges. The environmental concerns regarding its usage in pesticides and the growing use of oxylene, instead of naphthalene, in phthalic anhydride production are factors impeding the growth of the studied market.
Major Players: CARBONTECH GROUP, RTGERS GROUP, JFE CHEMICAL CORPORATION, EPSILON CARBON, DEZA, A.S, KOPPERS, INC. amongst others.
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Market analysis for the global naphthalene market, with regionspecific assessments and competition analysis on a global and regional scale.
Analyzing various perspectives of the market with the help of Porter's five forces analysis
Which product type and enduser industry is expected to dominate the market
Which country is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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