Market Overview 2022-2027
IMARC Group has recently released a new research study “Naphthenic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the Naphthenic Acid Industry?
The global naphthenic acid market size reached US$ 66.38 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 77.62 Million on by 2027, exhibiting a growth rate (CAGR) of 2.50% during 2022-2027.
What is a Naphthenic Acid Market ?
Naphthenic Acid (CnH2n-z O2) represents a light yellowish to dark-colored, insoluble complex compound that is recognized as the combination of predominant carboxylic and a small quantity of acyclic acids present in sand bitumen or crude oil. It is obtained from the acidic extraction of the petroleum distillation procedure, where the product is removed from refinery streams via caustic washing.
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Naphthenic acid is commercially available in refined and high-quality product types. It acts as a surfactant, causing formulation and stabilization, and necessitates high levels of treatment to fulfill product specifications. As a result, naphthenic acid finds widespread applications in paint dryers, detergents, solvents, organic peroxides, metal synthesis, corrosion inhibitors, naphthenates, ink driers, rubber reclaiming, etc.
What are the major market drivers in the Naphthenic Acid Market :
The escalating need to protect various wood products, such as poles, furniture, fences, and other timber surfaces, has facilitated the extensive utilization of this compound as a preservative across the residential and commercial sectors, which is primarily driving the naphthenic acid market.
Besides this, the elevating product usage in copper salts and zinc naphthenate to protect cellulosic materials from decay and extreme temperatures or humidity is further augmenting the market growth. Moreover, the rising requirement of naphthenic acid as a fuel additive in jet engines and locomotives to improve engine life and in the aerospace industry as an anti-corrosive agent is also catalyzing the global market.
Apart from this, the growing product popularity in lubricants, adhesives, sealants, coatings, pesticides, emulsifier intermediates, and anti-scaling agents is acting as another significant growth-inducing factor. Furthermore, the inflating demand for this compound as an ideal alternative to phosphate ester in industrial coatings, owing to its anti-scaling properties, is expected to bolster the naphthenic acid market in the coming years.
| Naphthenic Acid Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 66.38 Million |
| Market forecast in 2027 | US$ 77.62 Million |
| Growth Rate | CAGR of 2.50% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Application And Sales Channel |
| Regional scope | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Key companies profiled | 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. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Application:
Breakup by Sales Channel:
By Geography:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
The major players in the market are
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.
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