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CHEMICALS AND ADVANCED MATERIALS

Naphthol AS-IRG Market Segmentation by Application (Azoic Dye, Organic Pigments, Coating Materials, Agricultural Chemicals, Yellow 83, Medicinal Ingredients, and Others); and by End User (Plastics, Agriculture, Pharmaceutical, Chemicals, Textiles, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • December 2021- Koppers announced that it has signed a joint venture agreement with two Chinese companies for the construction of a tar distillation facility in the Hebei Province near the Jingtang Port.

  • October 2021- Laxmi Organic industries completed the acquisition of Acetyls Holding and its subsidiary company Yellowstone Chemicals in accordance with the terms of the share Purchase agreement dated December 9, 2020

Global Naphthol AS-IRG Market Highlights Over 2022 - 2031

The global naphthol AS-IRG market is estimated to garner a large amount of revenue by growing at a CAGR of ~4% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed primarily to the escalating utilization of the chemical for pigment manufacturing, coating material production, and textile dyeing and printing all around the world. Along with this, growing use of organic pigments as colorants in the plastics industry, and rising usage of naphthol AS-IRG for synthesis of active pharmaceutical ingredients are also expected to drive market growth in the forthcoming years.

Naphthol AS-IRG Market GraphFurthermore, rapid surge in urbanization globally, and increasing number of construction activities are projected to offer ample growth opportunities to the market in the near future. According to the World Bank, 56.156% of the total population of the world lived in urban areas in 2020, up from 55.72% in 2019 and 55.277% in 2018.  CLICK TO DOWNLOAD SAMPLE REPORT

Urban Population Graph

The market is segmented by application into azoic dye, organic pigments, coating materials, agricultural chemicals, yellow 83, medicinal ingredients, and others, out of which, the azoic dye segment is anticipated to hold the largest share in the global naphthol AS-IRG market. This can be accounted to the high demand for azoic dyes worldwide for producing bright shade of colors such as red, navy blue, orange and black. Additionally, on the basis of end user, the plastics segment is predicted to occupy the largest share during the forecast period owing to the increasing demand for plastic products across the globe. Apart from this, rise in usage of the chemical to impart colors to plastic polymers is also assessed to boost the growth of the market segment in the future.

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals Graph

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Naphthol AS-IRG Market Regional Synopsis

Regionally, the global naphthol AS-IRG market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to acquire the largest share and witness noteworthy growth over the forecast period on the back of the high manufacturing output of textiles, plastics and construction industries in the region. In 2020, plastic products amounting for a production value of approximately 80 million metric tons were produced in China, up from 72 million metric tons in 2019 and 70 million metric tons in 2018 respectively. In addition, growing consumption and production of organic pigments, especially in China and India is also expected to fuel the growth of the market in the region in the upcoming years. Moreover, the market in North America is also projected to grab a notable share during the forecast period ascribing to the rapidly growing packaging industry, and rising demand for the product in paint and printing ink applications in the region.

Naphthol AS-IRG Market Share Graph

The global naphthol AS-IRG market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global naphthol AS-IRG market includes the following segments:

By Application

  • Azoic Dye
  • Organic Pigments
  • Coating Materials
  • Agricultural Chemicals
  • Yellow 83
  • Medicinal Ingredients
  • Others

By End User

  • Plastics
  • Agriculture
  • Pharmaceutical
  • Chemicals
  • Textiles
  • Others

Growth Drivers

  • Escalating Utilization of the Chemical for Pigment Manufacturing, and Textile Dyeing and Printing
  • Growing Use of Organic Pigments as Colorants in the Plastics Industry

Challenges

  • Availability of Alternatives for Naphthol AS-IRG

Top Featured Companies Dominating the Market

  • PRAVIN DYECHEM PVT. LTD
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Qingdao Longyuntong Corporation
  • Jiangsu Tianbo Chemical Co.Ltd.
  • Laxmi Organic Industries Limited
  • Merck KGaA
  • JFE Holdings, inc.
  • Koppers Inc.
  • Nippon Steel Corporation
  • Rain Industries Limited
  • Himadri Specialty Chemical Ltd.

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