Dublin, Dec. 16, 2024 (GLOBE NEWSWIRE) -- The "United States Naphthalene Derivatives Market, By Region, Competition, Forecast and Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
The United States Naphthalene Derivatives Market was valued at USD 164.56 Million in 2023, and is expected to reach USD 202.53 Million by 2029, rising at a CAGR of 3.72%.
The market for naphthalene derivatives has experienced notable growth, primarily fueled by technological advancements. These advancements have facilitated the creation of novel naphthalene derivatives, leading to their increased adoption in various applications. The rising demand for environmentally sustainable products has further driven market expansion, as naphthalene derivatives present viable alternatives.
The U.S. Naphthalene Derivatives Market is poised to sustain its upward trajectory. This growth will be driven by escalating demand from diverse end-use sectors and ongoing research and development endeavors. The market's potential is underscored by projected growth rates, signaling a promising outlook for stakeholders in the naphthalene derivatives industry.
Continued technological progress and a growing emphasis on sustainability are set to drive further expansion in the naphthalene derivatives market. As new applications and opportunities surface, the industry stands ready to flourish, offering ample avenues for innovation and advancement.
Key Market Trends
Increasing Advancements in Agrochemical Applications
Naphthalene derivatives are seeing rising utilization in the formulation of pesticides, insecticides, and fungicides. Given the expanding global population and the consequent demand for improved crop protection solutions, the outlook for agrochemicals appears promising, with naphthalene derivatives assuming a pivotal role.
Emerging technologies like gene editing and nanotechnology are driving down pesticide usage, enhancing the efficacy of agricultural inputs, and promoting safer cultivation conditions. These advancements empower farmers to target specific pests or diseases more precisely, minimizing impacts on beneficial organisms and the environment. As pesticide technology evolves, the Environmental Protection Agency (EPA) leverages the latest scientific insights to assess new products, frequently incorporating naphthalene derivatives.
The advent of precision agriculture and data-driven farming practices has spurred the creation of innovative products and technologies in the agrochemical realm. Cutting-edge sensors, drones, and artificial intelligence algorithms are deployed to monitor crop health, optimize irrigation, and detect early signs of pest outbreaks. Naphthalene derivatives, with their diverse beneficial attributes like insecticidal and fungicidal properties, are integral components of these advancements.
Segmental Insights
End User Insights
The construction segment is projected to experience rapid growth during the forecast period. Naphthalene derivatives are utilized in the production of polyvinyl chloride (PVC) plastics. PVC plastics are celebrated for their durability, cost-efficiency, and ability to withstand environmental conditions, making them extensively employed in the construction field. These adaptable plastics are frequently employed in pipes, windows, flooring, and roofing, offering enduring solutions that cater to diverse construction needs. The integration of naphthalene derivatives in PVC plastics production underscores their importance in the construction sector, fostering the industry's overall advancement and expansion.
Regional Insights
Mid-West emerged as the dominant player in the United States Naphthalene Derivatives Market in 2023, holding the largest market share in terms of value. A key factor driving the supremacy of the naphthalene derivatives market in the Midwest is the robust construction sector in the area. The Midwest has witnessed a notable surge in highway construction endeavors, leading to a heightened demand for naphthalene derivatives. These derivatives, including sulphonated naphthalene formaldehyde (SNF), play a vital role as superplasticizers in concrete.
The presence of numerous major chemical firms in the Midwest further cements its dominance in the naphthalene derivatives market. These companies not only manufacture naphthalene derivatives but also a diverse array of other chemical products. Their contributions not only stimulate the local economy but also reinforce the region's prominent position in the market.
Leveraging their expertise and resources, these chemical enterprises continually innovate and explore new applications for naphthalene derivatives, ensuring a sustained demand and expansion in the market.
Key Market Players
- Koppers
- Evonik
- BASF
- Clariant
- Huntsman
- Kao USA
- Sika
- King Industries
- Himadri Specialty Chemical
- Nippon Steel & Sumitomo Metal
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 85 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $164.56 Million |
| Forecasted Market Value (USD) by 2029 | $202.53 Million |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | United States |
Report Scope:
In this report, the United States Naphthalene Derivatives Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
United States Naphthalene Derivatives Market, By Derivative:
- Sulphonated Naphthalene Formaldehyde (SNF)
- Phthalic Anhydride
- Alkyl Naphthalene Sulphonates Salts (ANS)
- Naphthalene Sulphonic Acids
- Others
United States Naphthalene Derivatives Market, By End User:
- Textiles
- Construction
- Pharmaceutical
- Paints & Coatings
- Oil & Gas
- Others
United States Naphthalene Derivatives Market, By Region:
- North-East
- Mid-West
- South
- West
For more information about this report visit https://www.researchandmarkets.com/r/jslmbe
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