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Written by priyanka » Updated on: November 05th, 2024
According to TechSci Research report, “India Naphthalene Market- By Region, Competition, Forecast and Opportunities, 2019-2029”, the India Naphthalene Market, by volume, stood at 21.21 million tonnes in 2023 and is anticipated to grow with a CAGR of 4.70% in the forecast period, 2024-2029. Initiatives taken by government based on naphthalene has led to favorable market conditions for the India Naphthalene Market. Several factors contribute to the growth of various naphthalene products.
The Indian government has undertaken several significant initiatives pertaining to the production and utilization of naphthalene and its derivatives. One notable measure is the substantial support extended by the state government to Bengal Chemical & Pharmaceuticals Limited, a Government of India Enterprise renowned for manufacturing a diverse range of chemicals, including naphthalene balls. This commendable initiative exemplifies the direct involvement of the government in fostering the production of naphthalene-based products.
Furthermore, the Indian government has actively encouraged and supported research and development endeavors in the domain of naphthalene synthesis. A noteworthy achievement in this regard is the successful synthesis of a novel porous polyaminal-linked polymer comprising naphthalene and melamine (PAN-NA) building blocks. These visionary initiatives have the potential to pave the way for the discovery and application of new naphthalene-based solutions, thereby catalyzing its market growth and expansion.
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Naphthalene, a white crystalline volatile solid known for its characteristic smell, is widely used in the production of phthalic anhydride. Phthalic anhydride, a key raw material in the manufacturing of dyes and pigments, plays a vital role in the textile industry. These dyes and pigments are not only essential for adding vibrant colors to fibers, fabrics, and garments, but they also contribute to the overall aesthetic appeal and visual impact of the end products.
Moreover, the applications of naphthalene in the textile industry extend beyond coloration. Naphthalene-based superplasticizers, also known as water reducers, find extensive use in enhancing the strength and durability of concrete structures within manufacturing plants. By incorporating these superplasticizers, textile manufacturers ensure that their production facilities maintain robust and long-lasting infrastructure to support their operations.
This comprehensive utilization of naphthalene in the textile industry showcases its versatility and indispensability in various aspects of textile manufacturing. From enhancing color vibrancy to reinforcing structural integrity, naphthalene continues to play a crucial role in driving innovation and efficiency in the textile sector.
The India Naphthalene Market is segmented into source, grade, end user, regional distribution, and company.
Based on its source, the coal tar segment held the largest market share in the forecast period. India, with its vast reserves of coal, boasts a significant source of raw material for naphthalene production. Coal tar, a byproduct of coal processing, is readily available and cost-effective in the country. This abundance of coal not only supports the production of naphthalene but also contributes to the overall energy needs of India.
Furthermore, India's well-established coal tar distillation facilities, strategically located in regions with coal mining and processing operations, have been successfully producing naphthalene for many years. These facilities play a crucial role in meeting the growing demand for naphthalene-based products, ensuring a steady supply of this versatile and widely used compound in various industries.
Based on region, West India segment is expected to grow during the forecast period.
The presence of well-established manufacturing facilities for naphthalene and naphthalene-based products in a region significantly contributes to its dominance in the market. These facilities, equipped with state-of-the-art technology and advanced production processes, ensure efficient and high-quality output, making the region a preferred choice for customers worldwide. Moreover, the expertise and experience gained from years of successful production further strengthen the region's position as a leader in the naphthalene industry.
Proximity to abundant and reliable sources of raw materials for naphthalene production, such as coal tar or petroleum, plays a crucial role in determining a region's competitiveness in the market. Having easy access to these essential feedstock resources not only ensures a stable supply but also reduces transportation costs and potential disruptions in the supply chain. This strategic advantage allows the region to maintain a competitive edge, attracting more investments and fostering long-term growth in the naphthalene industry.
Major companies operating in India Naphthalene Market are:
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“Growing application of naphthalene in various end user industries are key drivers of the naphthalene market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of naphthalene with every passing year are anticipated to register an impressive growth to India Naphthalene Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“India Naphthalene Market By Source (Coal Tar, Petroleum), By Grade (Technical Grade, Special Grade, Reagent Grade, Scintillation Grade), By End User (Textile, Agriculture, Building & Construction, Chemical, Plastic, Pharmaceutical, Others), By Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated the future growth potential of India Naphthalene Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Naphthalene Market.
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