Naphthenic Acid Market Report by Type (Refined Naphthenic Acid, High-purity Naphthenic Acid), Application (Paint and Ink Driers, Wood Preservatives, Fuel and Lubricant Additives, Rubber Additives, and Others), Sales Channel (Direct Channel, Distributor), and Region 2024-2032

Naphthenic Acid Market Report by Type (Refined Naphthenic Acid, High-purity Naphthenic Acid), Application (Paint and Ink Driers, Wood Preservatives, Fuel and Lubricant Additives, Rubber Additives, and Others), Sales Channel (Direct Channel, Distributor), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6415
Year End sale Buy Now

Market Overview:

The global naphthenic acid market size reached US$ 70.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 85.0 Million by 2032, exhibiting a growth rate (CAGR) of 2.08% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 70.2 Million
Market Forecast in 2032
US$ 85.0 Million
Market Growth Rate 2024-2032 2.08%


Naphthenic Acid (CnH2n-z O2) refers to a light-yellowish to dark-colored, insoluble complex compound that is identified as the mixture of predominant carboxylic and a small amount of acyclic acids present in crude oil or sand bitumen. It is obtained from the caustic extraction of petroleum distillation procedure wherein the product is removed from refinery streams through caustic washing. Naphthenic acid can act as a surfactant, causing emulsion formulation and stabilization, and it can necessitate high levels of treatment to meet product specifications. Consequently, naphthenic acid finds extensive applications in metal synthesis, paint dryers, detergents, solvents, organic peroxides, corrosion inhibitors, metal naphthenates, ink driers, and rubber reclaiming. At present, it is commercially available in refined and high-quality product types, which are used in diverse industries based on requirements.

Naphthenic Acid Market

Naphthenic Acid Market Trends:

The increasing need to protect various wood products, such as fences, poles, furniture, and other timber surfaces, has facilitated the widespread adoption of naphthenic acid as a preservative across the residential and commercial sectors, which is primarily driving the market growth. Naphthenic acid is used with copper salts, zinc naphthenate, and naphthenic acid to protect cellulosic materials from decay and extreme temperatures or humidity. In line with this, the rising usage of naphthenic acid as fuel additives in jet engines and locomotives to increase engine life is acting as another growth-inducing factor. It is further influenced by the extensive product usage in the aerospace industry as an anti-corrosive agent in the production of jet fuels. Additionally, naphthenic acid finds applications in lubricants, adhesives, sealants, coatings, pesticides, emulsifier intermediates, and anti-scaling agents, which, in turn, is supporting the market growth. Apart from this, the emergence of naphthenic acid as an ideal alternative to phosphate ester in industrial coatings, owing to its anti-scaling properties and strategic collaborations among key players, are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global naphthenic acid market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, application and sales channel.

Breakup by Type:

Naphthenic Acid Market By Type

  • Refined Naphthenic Acid
  • High-purity Naphthenic Acid
     

Breakup by Application:

  • Paint and Ink Driers
  • Wood Preservatives
  • Fuel and Lubricant Additives
  • Rubber Additives
  • Others
     

Breakup by Sales Channel:

  • Direct Channel
  • Distributor
     

Breakup by Region:

Naphthenic Acid Market By Region

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Type, Application, Sales Channel, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global naphthenic acid market was valued at US$ 70.2 Million in 2023.

We expect the global naphthenic acid market to exhibit a CAGR of 2.08% during 2024-2032.

The growing adoption of naphthenic acid in metal synthesis, paint dryers, detergents, solvents, organic peroxides, corrosion inhibitors, etc., as it can necessitate high levels of treatment to meet product specifications, is primarily driving the global naphthenic acid market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for naphthenic acid.

Based on the type, the global naphthenic acid market has been segregated into refined naphthenic acid and high-purity naphthenic acid, where refined naphthenic acid currently exhibits a clear dominance in the market.

Based on the application, the global naphthenic acid market can be bifurcated into paint and ink driers, wood preservatives, fuel and lubricant additives, rubber additives, and others. Currently, wood preservatives hold the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global naphthenic acid market include 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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Naphthenic Acid Market Report by Type (Refined Naphthenic Acid, High-purity Naphthenic Acid), Application (Paint and Ink Driers, Wood Preservatives, Fuel and Lubricant Additives, Rubber Additives, and Others), Sales Channel (Direct Channel, Distributor), and Region 2024-2032
Purchase Options Year End sale




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