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 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:
- 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:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- 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) |