Methyl Naphthalene Market Size, Share, Growth, and Global Industry Analysis, By Type (1-Methylnaphthalene, 2-Methylnaphthalene, and Others), By Application (Important Intermediate and Organic Synthesis), Regional Insights, and Forecast To 2032

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METHYL NAPHTHALENE MARKET REPORT OVERVIEW

The global methyl naphthalene market size was valued at USD 0.1 billion in 2023 and is projected to touch USD 0.13 billion by 2032, exhibiting a CAGR of 3.2% during the forecast period. Asia-Pacific holds leading position in methyl naphthalene market share in 2023.

Methyl naphthalene is a chemical compound that defines the zero reference point of cetane number. Cetane number is the measure of the delay in diesel fuel ignition as it has poor ignition qualities. The compound forms radical anion salts when reacted with alkali metals. It is a colorless liquid with a boiling point of 245 degrees Celsius and a freezing point of 7.6 degrees Fahrenheit. Its flash point is 82.2 degrees Celsius or 180 degrees Fahrenheit. This compound has a higher density than water which is 20 degrees Celsius. Additionally, it has a higher density than water. The chemical compound is a derivative of coal tar and is used in the organic synthesis process. 

The methyl naphthalene is an organic compound and is used in the production of phthalic anhydride. This chemical compound contains naphthalene moiety that consists of two rings of fused benzene. It is a camphor, a medicinal and chemical tasting compound. It is a white solid that can quickly evaporate in the air. Various fuels such as coal and petroleum contain naphthalene. It is also known as tar camphor and white tar. It is majorly used in the manufacturing of PVC (polyvinyl chloride). Moreover, it is used in repelling moths and toilet deodorants.

COVID-19 Impact: Supply Chain Disruption Retarded Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the methyl naphthalene market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The proliferation of COVID-19 throughout the world's major economies in 2019 resulted in widespread lockdowns that affected many businesses. A temporary shutdown of manufacturing facilities was followed by supply chain disruption. One of the most impacted industries during the pandemic that had a negative effect on the demand for naphthalene in the first half of 2020 was the building industry. However, the pandemic had little impact on the agricultural sector, which continued to demand naphthalene in large quantities. Additionally, the demand for naphthalene from various end-use sectors quickly recovered in the latter part of 2019 after the return of industrial activities and the lifting of the lockdown.

LATEST TRENDS

"Higher Product Demand from Various Industries to Boost the Market Growth"

The industry has a significant need for naphthalene, mostly used to create chemicals and agrochemicals. The demand for methyl naphthalene is anticipated to increase during the forecast period due to the increasing use of product derivatives in construction as a plasticizer of various concrete mixtures and rising demand for other derivatives, such as low volatility solvents. The demand for naphtha will also increase during the predicted period due to the usage of the chemical compound in textile dyeing. Agriculture, architecture and construction, textile, chemical, polymer, pharmaceutical, and other end-use sectors are only a few examples.

METHYL NAPHTHALENE MARKET SEGMENTATION

• By Type Analysis

By type, the market is segmented into 1-methylnaphthalene, 2-methylnaphthalene, and others. 

• By Application Analysis

Based on application, the market is classified into important intermediate and organic synthesis. 

DRIVING FACTORS

"Various Product Applications to Boost Growth"

2-methylnaphthalene is generally found in coal and crude oil. In many countries, it is used in making dyes, solvents, vitamin K, and detergents. It is used in making pesticides or as an ingredient in the manufacturing of some pesticides. It can evaporate quickly in soils exposed to environmental oxygen or air containing some microorganisms. It is mainly used in the manufacturing of pesticides used on the farm to repel insects and bacteria.  

"Increasing Urbanization to Foster Market Growth"

Use of the product in plasticizing various mixtures of concrete is likely to surge growth in the market. The rising population leading to higher demand for buildings and construction activities is forecasted to propel methyl naphthalene market growth. It is used to neutralize the cement particles and results in enhanced water tied up to the concrete. These factors are projected to foster the growth of the market. 

RESTRAINING FACTORS

"High Toxicity of the Product May Hamper Growth"

Higher exposure to methyl naphthalene through inhalation, dermal contact, and ingestion may result in various health disorders such as liver damage, hemolytic anemia, and neurological damage in infants. Acute exposure to this chemical cause’s nausea and vomiting, malaise, jaundice, headache, and other such symptoms. Using methyl naphthalene requires high alertness, which may hamper the market growth. Throughout the projection period, a number of government regulations pertaining to volatile organic compound (VOC) emissions are anticipated to restrain demand growth. This chemical diffusion produces caused environmental risks. These factors are likely to hinder the market growth. 

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METHYL NAPHTHALENE MARKET REGIONAL INSIGHTS

"Asia Pacific to Lead Market Owing to Increased Product Demand from End-Use Industries"

Asia Pacific is projected to hold a major part of methyl naphthalene market share owing to the rising demand for the product from end-use industries such as agriculture and construction. The rising urbanization leading to higher per capita income in developing countries such as India, China, and Japan is associated with the rising number of products using derivatives of methyl naphthalene. The region is estimated to hold approximately 62% of the total methyl naphthalene market share due to higher consumption of the product. 

Europe is forecasted to hold the second-highest market share due to rising applications of the methyl naphthalene derivatives as antimicrobials associated with the high value of therapeutics in the region.

KEY INDUSTRY PLAYERS

"Development of New Products to Accelerate Market Expansion"

Leading manufacturers are concentrated on continuously improving their product line by introducing cutting-edge features to set their products superior to those of other companies. Competitors underline the need of maintaining the market's strong competition. The main competitors are using a various range of analytical techniques. Significant players also place a strong emphasis on expanding their reach through partnerships, agreements, joint ventures, expansions, and investments. The introduction of advanced chemicals is anticipated to boost product demand and promote the expansion of the market. Competitors place a high emphasis on maintaining fierce competition in the market. Leading manufacturers are concentrated on continuously upgrading their products by inducing new advancements. The main rivals are using a range of analytical techniques.

LIST OF TOP METHYL NAPHTHALENE COMPANIES

• Koppers Inc. (U.S.)
• Ruetgers (Belgium)
• Nippon Steel Chemical (China)
• JFE Chemical (Japan)
• Hualun (China)
• SxtyChem (U.S.)
• SinoChem Hebei (China)
• WanshidaChem (Colombia)
• SinocoalChem (China)
• Baoshun (China)
• Flint Hills Resources (U.S.)
• Crowley Chemical Company (U.S.)
• BioChem

REPORT COVERAGE

"The report is an overview of the market, including the following:"

• Key players and their recent development.
• Factors projected to aid methyl naphthalene market growth.
• The impact of COVID-19 is also represented in the report.
• Regions are anticipated to lead the global market.
• Factors that may limit the growth of the market.
• The latest trends are also included in the report.
• Segmentation of the market on the basis of application and type.

These aspects altogether give a complete overview of the market and help the stakeholders in gaining a better understanding of the market.