Europe Naphthalene Derivatives Market Forecast to 2031 - Regional Analysis - by Form, Derivative Type, and End-use Industry

The Europe naphthalene derivatives market was valued at US$ 808.73 million in 2023 and is expected to reach US$ 1.07 billion by 2031; it is estimated to register a CAGR of 3.6% from 2023 to 2031.

Increased Use in Plasticizers Drive Europe Naphthalene Derivatives Market

The growing use of naphthalene derivatives in plasticizers offers significant market growth potential. These chemicals enhance the flexibility, durability, and workability of plastics, particularly polyvinyl chloride (PVC). The demand for flexible and durable plastic products in industries like construction, automotive, and packaging is driving this trend.

In construction, plasticizers are essential for producing flexible pipes, flooring, insulation, and roofing materials, particularly as urbanization and infrastructure needs rise in developing economies. The automotive sector relies on plasticizers for interior components and wiring due to their required flexibility and heat resistance.

Moreover, the packaging industry, fueled by e-commerce and sustainable solutions, is increasing its use of plasticizers. Innovations in plastic production and the exploration of eco-friendly alternatives are likely to further expand the naphthalene-derived plasticizer market, despite existing environmental concerns.

Europe Naphthalene Derivatives Market Overview

According to the European Federation of Pharmaceutical Industries and Associations, the pharmaceutical industry invested ~US$ 55 billion in research and development projects in Europe in 2022. The value of production in the research-based pharmaceutical industry in the region has grown from US$ 118.06 billion in 2000 to US$ 402.05 billion in 2022. Naphthalene derivatives are used as beta blocking agents, in the production of nadoxolol drugs. Moreover, derivatives of naphthalene are also used as water reducing agents and superplasticizers in concrete production. According to the European Commission, the construction industry is one of the major industries in Europe, contributing ~9% to the region's GDP. As per the European Commission, the EU invested ~US$ 6 billion in the construction of sustainable, safe, and efficient transport infrastructure in June 2023, including 107 transport infrastructure projects. According to the European Commission, crude oil and petroleum products account for the largest share of gross inland energy consumption in the EU. Despite decreasing production and fluctuating consumption through the years, crude oil and its derived products continue to play a significant role in the European economy. Oil production in Norway, which is a key European non-EU crude oil producer, increased to 87.4 Mt in 2021 from a record low of 70.0 Mt in 2019. Naphthalene derivatives are produced from naphthalene derived from coal tar or petroleum. Thus, the growth of the oil & gas industry, coupled with developments in the pharmaceutical and construction industries, fuels the naphthalene derivatives market in Europe.

Europe Naphthalene Derivatives Market Segmentation

The Europe naphthalene derivatives market is categorized into form, derivative type, end-use industry, and country.

Based on form, the Europe naphthalene derivatives market is bifurcated into powder and liquid. The powder segment held a larger market share in 2023.

In terms of derivative type, the Europe naphthalene derivatives market is segmented into sulphonated naphthalene formaldehyde, phthalic anhydride, naphthalene sulphonic acid, alkyl naphthalene sulfonate salts, and others. The phthalic anhydride segment held the largest market share in 2023.

By end-use industry, the Europe naphthalene derivatives market is segmented into building and construction, agrochemicals, textile, pharmaceuticals, oil and gas, dyes and pigments, and others. The building and construction segment held the largest market share in 2023.

By country, the Europe naphthalene derivatives market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe naphthalene derivatives market share in 2023.

JFE holdings Inc; Stepan Co; Nouryon Chemicals Holding BV; Merck KGaA; Hefei TNJ Chemical Industry Co., Ltd.; Himadri Speciality Chemical Ltd; Chempro Group; Methanol Chemicals Co; MUHU (China) Construction Materials Co., Ltd.; PCC SE; Rain Industries Ltd; King Industries, Inc.; MP Biomedicals; Shandong Jufu Chemical Technology Co., Ltd.; and Nan Ya Plastics Corp are some of the leading companies operating in the Europe naphthalene derivatives market.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe naphthalene derivatives market.
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the Europe naphthalene derivatives market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe naphthalene derivatives market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.