Naphthenic Acid Market Size and Share
Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Growth Rate | 0.00% CAGR |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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Naphthenic Acid Market Analysis by Mordor Intelligence
The Naphthenic Acid Market is expected to register a CAGR of greater than 1.5% during the forecast period.
- Asia-Pacific region is expected to dominate the global market during the forecast period and is also expected witness the fastest CAGR.
- Optimal and effective mechanisms used in refining process from crude oil is likely to act as opportunities in the future.
Global Naphthenic Acid Market Trends and Insights
Growing Demand for Wood Preservatives
- Copper and Zinc salts of naphthenic acid known as copper or zinc naphthenate are used in wood preservation and for protecting other cellulosic materials from damage by decay fungi and insects.
- Their addition in wood preservatives helps to prevent the decay of wood products such as fences, poles, and furniture, and timber surfaces and structures in buildings. The decay may be caused by the sun, extremes of temperature, humidity or by fungi and insects (particularly termites and borers). Growing furniture production and booming construction industry is majorly expected to drive the demand for wood preservatives and hence the demand for naphthenic acid through the years.
- According to the China Furniture Association, there are more than 100,000 furniture manufactures located in the five major furniture manufacturing bases.
- In terms of quantity, Malaysia was the largest exports of wooden furniture (26,482,004 units), followed by Thailand (10,936,274 units). In terms of office wooden furniture, Malaysia and China dominated the market in exports.
- Overall, the growing furniture market is majorly expected to fuel the wood preservatives consumption; which, in turn, will increase the demand for naphthenic acid through the forecast period.
China to Dominate the Demand in Asia-Pacific Region
- The demand for Naphthenic acid in China is expected to rise at a great pace due to the increasing demand from furniture manufacturing companies as solvent based intermediaries for the wood preservative applications.
- China is topping the rank as a furniture producer, consumer and exporter. It accounts for around 40% of the global furniture production. The country’s furniture industry is mainly driven by real estate sales.
- As per the Global Infrastructure Outlook report, China, Japan, South Korea, India and Singapore are the major countries comprising the investment needs for infrastructure which already share over half the global infrastructure market.
- Rising demand for home decoration, increased standard of living and its consumption in aerospace applications as an anti-corrosive agent in the production of jet fuel is likely to have a positive effect on the consumption of naphthenic acid in the country.
- Over the next 20 years, China is expected to be the world’s largest single‐country market for civil aircraft sales. Presently, the country is running 2,185 general aviation aircraft. Moreover, it is planning to build more than 5,000 aircraft and 500 airports, by 2020, which, in turn, is expected to boost the demand for jet fuels in the country.
- Owing to all the aforementioned factors, the market for naphthenic acid in the region is projected to grow during the forecast period.
Competitive Landscape
The global naphthenic acid market is consolidated, where the top three players account for majority of the global market share. Major players in the market include Merichem Company, Umicore Cobalt & Specialty Materials (CSM), and Midas Chemical Company Limited, among others.
Naphthenic Acid Industry Leaders
-
Merichem Company
-
Umicore
-
Midas
- *Disclaimer: Major Players sorted in no particular order
Global Naphthenic Acid Market Report Scope
The global naphthenic acid market report includes:
| Refined Naphthenic Acid |
| High-purity Naphthenic Acid |
| Paint and Ink Driers |
| Wood Preservatives |
| Fuel and Lubricant Additives |
| Rubber Additives |
| Other Applications |
| Asia-Pacific | China |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific | |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | Germany |
| United Kingdom | |
| Italy | |
| France | |
| Rest of Europe | |
| Rest of the World |
| Type | Refined Naphthenic Acid | |
| High-purity Naphthenic Acid | ||
| Application | Paint and Ink Driers | |
| Wood Preservatives | ||
| Fuel and Lubricant Additives | ||
| Rubber Additives | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| North America | United States | |
| Canada | ||
| Mexico | ||
| Europe | Germany | |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Rest of the World | ||
Key Questions Answered in the Report
What is the current Naphthenic Acid Market size?
The Naphthenic Acid Market is projected to register a CAGR of greater than 1.5% during the forecast period (2025-2030)
Who are the key players in Naphthenic Acid Market?
Merichem Company, Umicore and Midas are the major companies operating in the Naphthenic Acid Market.
Which is the fastest growing region in Naphthenic Acid Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Naphthenic Acid Market?
In 2025, the Asia Pacific accounts for the largest market share in Naphthenic Acid Market.
What years does this Naphthenic Acid Market cover?
The report covers the Naphthenic Acid Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Naphthenic Acid Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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