Global Naphthenic Acid Market, By Type (Refined Naphthenic Acid, High-purity Naphthenic Acid), Application (Paint and Ink Driers, Wood Preservatives, Fuel and Lubricant Additives, Rubber Additives, Other Applications), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Naphthenic Acid Market
The demand for naphthenic acid will hit an approximate value of USD 89.85 billion by 2028, with growth of 2.60% for the projected period from 2021 to 2028. The market report on naphthenic acid analyses the growth that is currently rising due to the increasing demand for wood preservatives.
Naphthenic acid is a mixture of cycloaliphatic carboxylic acids that occurs naturally. The dark brown oily liquid is crude naphthenic acids derived from high-acid crude oil. They become clear yellow or orange liquids after they are processed.
The growing awareness regarding the benefits of the acid which will tends to protect wooden products from decomposition and decaying, increasing usages of acid as fuel additive in jet engines and locomotives, rising applications of the products in developing economies, high penetration along with availability of low cost of product, rising importance for engine life protection are some of the major as well as important factors which will likely to accelerate the growth of the naphthenic acid market in the projected timeframe of 2021-2028. On the other hand, expansion of construction sector along with surging levels of investment for the growth of the timber based products, increasing global aircraft fleet for commercial as well as defence purposes which will further contribute by generating immense opportunities that will led to the growth of the naphthenic acid market in the above mentioned projected timeframe.
Increasing availability of alternative products along with increasing issues regarding environmental degradation which will likely to act as market restraints factor for the growth of the naphthenic acid in the above mentioned projected timeframe. Lack of availability of raw material along with volatility in the prices of the product which will become the biggest and foremost challenge for the growth of the market.
This naphthenic acid market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on naphthenic acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Naphthenic Acid Market Scope and Market Size
Naphthenic acid market is segmented on the basis of type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the naphthenic acid market is segmented into refined naphthenic acid, and high-purity naphthenic acid.
- Naphthenic acid market is segmented in terms of market value, volume, market opportunities, and niches into multiple applications. The application segment for naphthenic acid market includes paint and ink driers, wood preservatives, fuel and lubricant additives, rubber additives, and other applications.
Naphthenic Acid Market Country Level Analysis
Naphthenic acid market is analysed and market size, volume information is provided by country, type and application as referenced above.
The countries covered in the naphthenic acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
China dominates the Asia-Pacific naphthenic acid market due to the growing demand from furniture manufacturing companies as solvent based intermediaries for the wood preservative applications, surging levels of investment for the development of advanced infrastructure, improved standard of living of the people, increasing demand for home decoration along with rising consumption of anti-corrosive agent in aerospace industry in the region. Europe region is expected to hold the largest growth rate due to the prevalence of various market players along with increasing number of export and import activities in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Naphthenic Acid Market Share Analysis
Naphthenic acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to naphthenic acid market.
The major players covered in the naphthenic acid market report are FULLTIME; Haihang Industry; Karvan-L; Merck KGaA; Merichem Company; Shanghai Changfeng Chemical Industrial Factory; Shenyang Zhang Ming Chemical Co., Ltd.; Tokyo Chemical Industry Co., Ltd.; Umicore.; Jiangxi JYT Chemical Co., Ltd.; MOLBASE; JIGCHEM UNIVERSAL; Mil-Spec Industries Corporation.; A. B. ENTERPRISES; PETROPERÚ S.A.; Dorf Ketal Chemicals (I) Pvt. Ltd.; Apurva Chemicals.; Todini Metals And Chemicals India Pvt Ltd.; Royal Chemicals (India).; Leo Chemo Plast Pvt. Ltd.; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
COVID-19 is an incomparable global public health emergency that has impacted virtually every sector, so the long-term consequences expected over the forecast period would impact the development of the industry. Our ongoing research amplifies our research process to ensure that the fundamental COVID-19 problems and alternative pathways forward are included.
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