PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1513468
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1513468
US Naphthalene Market is valued at approximately USD 560 million in 2023 and is anticipated to grow with a healthy growth rate of more than 3.01% over the forecast period 2024-2032. Naphthalene is an aromatic hydrocarbon that is crystalline and made up of two fused benzene rings. It is frequently found in petroleum and coal tar. Naphthalene is frequently used as a raw material to make a variety of compounds, such as lubricants, dyes, and pesticides. solid naphthalene balls are often employed as a moth repellent, which involves placing them in closets or storage areas to keep pests like moths away. The US naphthalene manufacturing is becoming more efficient and cost-effective due to ongoing developments in production technology and procedures. Accordingly, the increasing technological advancements in production is a key trend that is supporting the growth of the US Naphthalene Market during the studies period of 2022-2032.
The US market benefits from the strong demand for various naphthalene derivatives. Phthalic anhydride, a key derivative used in plasticizers, resins, and films, is a major consumer of naphthalene in the US. Also, there is a continuous need for construction materials such as naphthalene-based concrete additives with ongoing infrastructure projects such as roads, bridges, and buildings. Government investments in infrastructure further boost demand. Naphthalene's effectiveness as a moth repellent makes it valuable in pest control applications. Consumers use naphthalene-based mothballs to protect clothes and fabrics from damage. Furthermore, companies are investing in research and development to innovate new naphthalene-based products and formulations. This includes developing sustainable and eco-friendly alternatives to meet market demand and regulatory requirements. However, it is anticipated that strict environmental laws regulating VOC emissions and the health risks connected to naphthalene use is expected to hinder US Naphthalene Market growth throughout the studied period of 2022-2032.