
Published On: Apr 2025
Published On: Apr 2025
At 3.6% CAGR, Europe Naphthalene Derivatives Market is Projected to be Worth US$ 1,071.02 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the Europe naphthalene derivatives market was valued at US$ 808.73 million in 2023 and is expected to reach US$ 1,071.02 million by 2031, registering a CAGR of 3.6% from 2023 to 2031. Surging demand for agrochemicals and increased use in plasticizers are among the critical factors attributed to drive the Europe naphthalene derivatives market growth.
Sulphonates are the most commonly used naphthalene derivatives in the agrochemical industry. It is used as a dispersant in pesticide and insecticide formulations for uniform distribution of active ingredients. The increasing global population has positively contributed to the demand for food production. Europe plays a crucial role in agrochemical production, with major companies located in countries such as Germany, Switzerland, and France. Germany is home to industry giants like BASF and Bayer, both of which are global leaders in crop protection and offer a wide range of pesticides, herbicides, and fungicides. In Switzerland, Syngenta stands out as one of the world's largest agrochemical companies, specializing in seeds and crop protection products. France also significantly contributes to agrochemical production, supported by a robust agricultural sector that demands these products. Together, these countries make substantial contributions to the global agrochemical market, influencing agricultural practices around the world. For instance, as per Our World in Data, the sugar beet production in France increased from 26.16 million tons in 2020 to 31.50 million tons in 2022.
Naphthol is used as an intermediate in the production of insecticides, aiding in crop health. Further, naphthalene acetic acid is a synthetic plant hormone derived from naphthalene, which is used as a plant growth regulator. The need for effective crop protection solutions due to the elevating global food requirements bolsters the demand for agrochemicals, fueling the growth of the naphthalene derivatives market.
On the contrary, the availability of substitutes hampers the growth of Europe naphthalene derivatives market.
Based on form, the Europe naphthalene derivatives market is bifurcated into powder and liquid. The powder segment held 63.1% market share in 2023, amassing US$ 510.00 million. It is projected to garner US$ 697.15 million by 2031 to register 4.0% CAGR during 2023-2031.
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 51.9% share of Europe naphthalene derivatives market in 2023, amassing US$ 420.06 million. It is anticipated to garner US$ 562.80 million by 2031 to expand at 3.7% CAGR during 2023-2031.
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 35.1% market share in 2023, amassing US$ 283.81 million. It is projected to garner US$ 395.96 million by 2031 to register 4.3% CAGR during 2023-2031.
By country, the Europe naphthalene derivatives market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 27.2% share of Europe naphthalene derivatives market in 2023. It was assessed at US$ 220.12 million in 2023 and is likely to hit US$ 260.34 million by 2031, registering a CAGR of 2.1% during 2023-2031.
Key players operating in the Europe naphthalene derivatives market are 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, among others.
Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com