High-purity Naphthalene Market size is estimated to be USD 1.2 Billion in 2024 and is expected to reach USD 1.8 Billion by 2033 at a CAGR of 5% from 2026 to 2033.
The European high-purity naphthalene market has been experiencing notable growth, driven by its diverse industrial applications. In 2023, the market generated a revenue of USD 270.9 million, with projections indicating a compound annual growth rate (CAGR) of 3.3% from 2024 to 2030. This upward trend underscores the increasing demand for high-purity naphthalene across various sectors.
Key Applications of High-Purity Naphthalene in Europe
Pharmaceuticals: High-purity naphthalene serves as a precursor in synthesizing active pharmaceutical ingredients (APIs). Its role in producing certain drugs is crucial, especially as the global pharmaceutical market is projected to reach $1.5 trillion by 2023, necessitating high-quality chemical intermediates.
Agrochemicals: In the agricultural sector, high-purity naphthalene is utilized in manufacturing pesticides and herbicides. Its effectiveness in pest control contributes to enhanced crop yields, supporting the growing food demand.
Plastics and Resins: The compound is integral in producing phthalic anhydride, a key component in manufacturing plasticizers, resins, and coatings. The global plastic industry, projected to grow at a CAGR of around 3.5% from 2021 to 2028, relies on high-purity naphthalene for high-performance plastics used in automotive and construction sectors.
Industry Requirements and Quality Standards
Industries utilizing high-purity naphthalene demand stringent quality standards to ensure product efficacy and safety. The purity level of naphthalene directly impacts the quality of end products, making it imperative for manufacturers to adhere to rigorous purification processes. Technological advancements in extraction and purification have enabled the production of high-purity naphthalene at lower costs and with greater efficiency, meeting the stringent quality requirements set by various industries.
Market Dynamics and Regional Insights
The European market's growth is primarily driven by demand from established industries such as pharmaceuticals, construction, and agriculture. However, the market faced subdued demand during the first half of 2023 due to reduced purchases for use in manufacturing downstream products such as plasticizers and dyes. This resulted in a bearish sentiment, with prices for refined naphthalene in Germany reported at USD 1,280/MT by the end of 2023. Companies in Europe have made strategic adjustments in response to regulatory pressures and competition concerns in the region.
In July 2024, the American Chemistry Council (ACC) and the American Petroleum Institute (API) formed the Naphthalene Workgroup to address regulatory announcements and monitor decisions related to naphthalene. Such collaborations aim to align industry practices with evolving regulations, ensuring sustainable growth.
Future Outlook
As industries continue to evolve, the demand for high-purity naphthalene is expected to rise. The compound's versatility and essential role in various applications position it as a critical component in Europe's industrial landscape. Manufacturers focusing on sustainable practices and technological innovations are likely to capitalize on emerging opportunities in this market.
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JFE Chemical
CĂŻÂĽChem
Epsilon Carbon
Himadri Specialty Chemical
Koppers
Rain Industries
NIPPON STEEL & SUMITOMO METAL
OCI
Carbon Tech Group
Industrial Quimica del Nalon
Baoshun Technology
Shandong Weijiao
Tangshan Kailuan Carbon Chemical
Kailuan Group
Huanghua Xinnuo Lixing
Ansteel Group
Pingdingshan Aosida Technology
Shandong Gude Chemical
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Europe region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe High-purity Naphthalene Market
Industrial Solvent
Flame Retardant
Chemical Intermediate
Plastic Additives
Pharmaceuticals
Technical Grade Naphthalene
Pure Naphthalene
High-purity Naphthalene
Chemical Industry
Textile Industry
Rubber Industry
Pharmaceutical Industry
Coatings and Paints Industry
Direct Sales
Online Distribution
Wholesale Distribution
Powder Form
Granular Form
Liquid Form
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
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1. Introduction of the Europe High-purity Naphthalene Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Market Size And Trends
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe High-purity Naphthalene Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe High-purity Naphthalene Market, By Type
6. Europe High-purity Naphthalene Market, By Application
7. Europe High-purity Naphthalene Market, By Geography
Europe
8. Europe High-purity Naphthalene Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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