The global alkylated naphthalene market is expected to reach US$ 115,0 Mn in 2020 and is anticipated to register CAGR of 5.5% from 2021-2028.
Flourishing automotive sector across the globe, rising passenger and commercial vehicles sale in developing countries and increasing demand for enhanced lubricants is expected to increase demand for alkylated naphthalene. There is rapid increase in consumer spending on vehicles with advanced features and good performance. The global sale of passenger and commercial vehicles stood at 535,988,46 units and 243,723,88 units respectively in 2020. High dependency of the transportation sector on lubricants for smooth functioning is increasing demand for alkylated naphthalene. Alkylated naphthalene is extensively used as a modifier in different base lubricants. It enhances the thermal and thermo-oxidative stability of the lubricants.
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Countries such as the US, China, and India are witnessing high development in various industry verticals, further leading to increased trade activities. The volume of exports of goods and services of India decreased by 10.9% in 2020 and is expected to increase by 12% in 2021. The government of India is focused on enhancing the trade activities, its major trade partners are the US, China, the United Arab Emirates, Saudi Arabia, and Iraq. In 2020, the government signed free trade agreements with South Korea further safeguarding its economic growth. An increase in trade activities across the globe, due to rapid industrialization and urbanization is expected to increase demand for lubricants from the marine and transportation industry, further impacting the growth of target market. Hydraulics is widely used in the construction industry, majorly found in excavators, dump trucks, bulldozers, etc. Hydraulics aid in the easy functioning of heavy equipment; alkylated naphthalene provides excellent hydrolytic stability and varnish control when used in combination with hydraulic fluids. This is expected to impact the demand for alkylated naphthalene across the globe. The government is also imposing various regulations related to the use of food-grade alkylated naphthalene in order to maintain the product standards.
Polyalphaolefins (PAOs), and polyalkylene glycol (PAG) are some available synthetic fluids that are alternatives for the alkylated naphthalene products. These are some factors expected to hamper the growth of global alkylated naphthalene market. In addition, price fluctuation in the raw materials is expected to impact the end product prices further challenging the growth of target market. However, business development activities by major players through acquisitions, along with a high focus on growing the product awareness among consumers through promotional activities, and the introduction of new products are factors expected to create new opportunities for players operating in the alkylated naphthalene market over the forecast period. In addition, players' approach towards strengthening the distribution channel is expected to support the revenue transaction of the target market.
|Market||Alkylated Naphthalene Market|
|Analysis Period||2017 - 2028|
|Forecast Data||2021 - 2028|
|Segments Covered||By Grade, By Viscosity Index, By Application and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||
Quaker Chemical Corporation, Huntsman Corporation, Kao Corporation, Shanghai NACO Lubrication Co., Ltd., ExxonMobil Corporation, King Industries Inc., Novitas Chem Solutions, llc., Nease Co. LLC, Akzo Nobel N.V. (Nouryon), and Anneng Chemical Co., Ltd.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Alkylated Naphthalene Market Region Analysis, 2020
The market in North America is expected to account for a major revenue share in the global alkylated naphthalene market due to high demand for luxury vehicles. The presence of large number of players in the country with new product launches is increasing the competitive landscape in the region. Enterprise focus on tapping the untapped market in the region is expected to impact the market growth. In addition, increasing demand for processed food is expected to increase demand for food-grade alkylated naphthalene.
Alkylated Naphthalene Market Segment Analysis, 2020
The global alkylated naphthalene market is segmented into grade, viscosity index, and application. The grade segment is divided into food and standard. Among grades, the standard segment is expected to account for major revenue share in the global market. Wide applicability of standard grade in automotive engine & gear oils, heat transfer oils, and hydraulic fluids is expected to augment the segment growth. The viscosity index segment is divided into 22–65 SUS, 65–90 SUS, 90–115 SUS, and above 115 SUS. Among the viscosity index, the 65–90 SUS segment is expected to account for a noticeable revenue share in the target market.
The players profiled in the global market alkylated naphthalene market are Quaker Chemical Corporation, Huntsman Corporation, Kao Corporation, Shanghai NACO Lubrication Co., Ltd., ExxonMobil Corporation, King Industries Inc., Novitas Chem Solutions, llc., Nease Co. LLC, Akzo Nobel N.V. (Nouryon), and Anneng Chemical Co., Ltd.
Market by Grade:
Market by Viscosity Index:
Market by Application:
Market By Geography
In 2020 is expected to be above US$ 115.0 Mn and CAGR from 2021-2028 is above 5.5%
Prominent players operating in the target market are Shanghai NACO Lubrication Co., Ltd., ExxonMobil Corporation, King Industries Inc., and Quaker Chemical Corporation
North America dominated and Asia Pacific region exhibited the fastest growing CAGR