The global naphthenic acid market size reached US$ 70.2 Million in 2023. Looking forward, the market is projected to reach US$ 85.0 Million by 2032, exhibiting a growth rate (CAGR) of 2.15% during 2023-2032.
Naphthenic Acid (CnH2n-z O2) refers to a light-yellowish to dark-colored, insoluble complex compound that is identified as the mixture of predominant carboxylic and a small amount of acyclic acids present in crude oil or sand bitumen. It is obtained from the caustic extraction of petroleum distillation procedure wherein the product is removed from refinery streams through caustic washing. Naphthenic acid can act as a surfactant, causing emulsion formulation and stabilization, and it can necessitate high levels of treatment to meet product specifications.
Consequently, naphthenic acid finds extensive applications in metal synthesis, paint dryers, detergents, solvents, organic peroxides, corrosion inhibitors, metal naphthenates, ink driers, and rubber reclaiming. At present, it is commercially available in refined and high-quality product types, which are used in diverse industries based on requirements.
It is further influenced by the extensive product usage in the aerospace industry as an anti-corrosive agent in the production of jet fuels. Additionally, naphthenic acid finds applications in lubricants, adhesives, sealants, coatings, pesticides, emulsifier intermediates, and anti-scaling agents, which, in turn, is supporting the market growth. Apart from this, the emergence of naphthenic acid as an ideal alternative to phosphate ester in industrial coatings, owing to its anti-scaling properties and strategic collaborations among key players, are creating a positive outlook for the market.
2. What is the expected growth rate of the global naphthenic acid market during 2024-2032?
3. What are the key factors driving the global naphthenic acid market?
4. What has been the impact of COVID-19 on the global naphthenic acid market?
5. What is the breakup of the global naphthenic acid market based on the type?
6. What is the breakup of the global naphthenic acid market based on the application?
7. What are the key regions in the global naphthenic acid market?
8. Who are the key players/companies in the global naphthenic acid market?
Naphthenic Acid (CnH2n-z O2) refers to a light-yellowish to dark-colored, insoluble complex compound that is identified as the mixture of predominant carboxylic and a small amount of acyclic acids present in crude oil or sand bitumen. It is obtained from the caustic extraction of petroleum distillation procedure wherein the product is removed from refinery streams through caustic washing. Naphthenic acid can act as a surfactant, causing emulsion formulation and stabilization, and it can necessitate high levels of treatment to meet product specifications.
Consequently, naphthenic acid finds extensive applications in metal synthesis, paint dryers, detergents, solvents, organic peroxides, corrosion inhibitors, metal naphthenates, ink driers, and rubber reclaiming. At present, it is commercially available in refined and high-quality product types, which are used in diverse industries based on requirements.
Naphthenic Acid Market Trends
The increasing need to protect various wood products, such as fences, poles, furniture, and other timber surfaces, has facilitated the widespread adoption of naphthenic acid as a preservative across the residential and commercial sectors, which is primarily driving the market growth. Naphthenic acid is used with copper salts, zinc naphthenate, and naphthenic acid to protect cellulosic materials from decay and extreme temperatures or humidity. In line with this, the rising usage of naphthenic acid as fuel additives in jet engines and locomotives to increase engine life is acting as another growth-inducing factor.It is further influenced by the extensive product usage in the aerospace industry as an anti-corrosive agent in the production of jet fuels. Additionally, naphthenic acid finds applications in lubricants, adhesives, sealants, coatings, pesticides, emulsifier intermediates, and anti-scaling agents, which, in turn, is supporting the market growth. Apart from this, the emergence of naphthenic acid as an ideal alternative to phosphate ester in industrial coatings, owing to its anti-scaling properties and strategic collaborations among key players, are creating a positive outlook for the market.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global naphthenic acid market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type, application and sales channel.Breakup by Type:
- Refined Naphthenic Acid
- High-purity Naphthenic Acid
Breakup by Application:
- Paint and Ink Driers
- Wood Preservatives
- Fuel and Lubricant Additives
- Rubber Additives
- Others
Breakup by Sales Channel:
- Direct Channel
- Distributor
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Haihang Industry Co. Ltd, Jigchem Universal, Leo Chemo Plast Pvt. Ltd., Merck KGaA, Merichem Company, Petróleos del Perú, Shenyang Zhang Ming Chemical Co. Ltd., Tokyo Chemical Industry Co. Ltd and Umicore Cobalt & Specialty Materials.Key Questions Answered in This Report
1. What was the size of the global naphthenic acid market in 2023?2. What is the expected growth rate of the global naphthenic acid market during 2024-2032?
3. What are the key factors driving the global naphthenic acid market?
4. What has been the impact of COVID-19 on the global naphthenic acid market?
5. What is the breakup of the global naphthenic acid market based on the type?
6. What is the breakup of the global naphthenic acid market based on the application?
7. What are the key regions in the global naphthenic acid market?
8. Who are the key players/companies in the global naphthenic acid market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Naphthenic Acid Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by Sales Channel
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Haihang Industry Co. Ltd
- Jigchem Universal
- Leo Chemo Plast Pvt. Ltd.
- Merck KGaA
- Merichem Company
- Petróleos del Perú
- Shenyang Zhang Ming Chemical Co. Ltd.
- Tokyo Chemical Industry Co. Ltd
- Umicore Cobalt & Specialty Materials.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 70.2 Million |
| Forecasted Market Value ( USD | $ 85 Million |
| Compound Annual Growth Rate | 2.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
