Global Naphthalene Market

Naphthalene Market Size, Share, Growth Analysis, By Source(Coal tar and petroleum), By Application(Plasticizer, pesticide and surfactant and wetting agent), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15B2106 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 60 |Figures: 75

Naphthalene Market Insights

Naphthalene Market size was valued at USD 0.32 billion in 2021 and is poised to grow from USD 0.33 billion in 2022 to USD 0.43 billion by 2030, at a CAGR of 3.5% during the forecast period (2023-2030).

The global naphthalene market has witnessed significant growth and development in recent years. Naphthalene, a crystalline hydrocarbon compound, is primarily derived from coal tar and petroleum. It finds extensive application in various industries such as chemical, textile, construction, and automotive. The growth of the construction sector, especially in emerging economies, has been a major driving force behind the increased demand for naphthalene-based products like concrete admixtures. Additionally, the growing consumption of naphthalene in the production of phthalic anhydride, which is used in the manufacturing of plasticizers, dyes, and resins, has further contributed to market growth. The expanding textile industry, driven by rising population and changing fashion trends, has also fueled the demand for naphthalene-based products like moth repellents and dye intermediates. Furthermore, ongoing research and development activities focused on improving the properties and applications of naphthalene derivatives have opened up new opportunities in the market. However, environmental concerns regarding the toxicity and potential health hazards associated with naphthalene may pose challenges to the market's growth. Manufacturers are increasingly focusing on sustainable production methods and exploring alternative substitutes to address these concerns. Overall, the global market is expected to continue its growth trajectory, driven by the expanding construction and textile industries, technological advancements, and the adoption of sustainable practices.

US Naphthalene Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 0.32 billion

Largest Segment

Petroleum

Fastest Growth

Petroleum

Growth Rate

3.5% CAGR

Global Naphthalene Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Naphthalene Market Segmental Analysis

The Global Naphthalene Market is segmented on the basis of source, application, and region. Based on source, the market can be segmented into Coal tar and petroleum. Based on application, the market is segmented into Plasticizer, pesticide and surfactant and wetting agent. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Naphthalene Market Analysis By Source

The dominant segment in the global naphthalene market is petroleum-derived naphthalene. Petroleum-based naphthalene holds a significant market share due to its wide availability and consistent quality. The petroleum industry's extensive infrastructure and refining capabilities allow for efficient extraction and production of naphthalene, meeting the growing demand from various end-use industries.

On the other hand, the fastest-growing segment in the naphthalene market is coal tar-derived naphthalene. Coal tar is a byproduct of the coal gasification process and is a rich source of naphthalene. The increasing focus on sustainable and eco-friendly practices has fueled the demand for coal tar-derived naphthalene, as it is considered a renewable resource. Moreover, advancements in coal tar processing technologies and the development of innovative extraction methods have further boosted the growth of this segment, making it the fastest-growing segment in the naphthalene market.

Naphthalene Market Analysis By Application

The dominant segment in the global naphthalene market based on application is plasticizers. Plasticizers are additives used to improve the flexibility and durability of plastics, making them suitable for various applications. Naphthalene-based plasticizers offer excellent compatibility, low volatility, and high thermal stability, making them widely preferred in industries such as automotive, construction, and packaging. The strong demand for plastic products across diverse sectors and the need for enhanced performance characteristics have contributed to the dominance of the plasticizer segment in the naphthalene market.

The fastest-growing segment in the naphthalene market based on application is pesticides. Naphthalene-based pesticides are widely used for their insecticidal properties and are effective in controlling pests in agriculture and horticulture. The increasing global population and the subsequent need to improve agricultural productivity have driven the demand for efficient crop protection solutions, including naphthalene-based pesticides. Additionally, the growing awareness about the environmental impact of conventional pesticides has led to the adoption of safer and more sustainable alternatives, further propelling the growth of naphthalene-based pesticides as the fastest-growing segment in the market.

Global Naphthalene Market By Source, 2023 (%)

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Naphthalene Market Regional Insights

The dominant region in the global naphthalene market is Asia Pacific. Asia Pacific holds a significant market share due to the presence of key manufacturing hubs and rapid industrialization in countries such as China, India, and Japan. The region's robust chemical, construction, and textile industries drive the demand for naphthalene-based products, including concrete admixtures, plasticizers, and dye intermediates. Additionally, favorable government policies, infrastructure development, and increasing investments in various sectors contribute to the dominant position of Asia Pacific in the naphthalene market.

The fastest-growing region in the naphthalene market is the Middle East and Africa (MEA). The MEA region is experiencing substantial growth due to expanding construction and infrastructure projects, particularly in countries like Saudi Arabia, UAE, and South Africa. The increasing urbanization, rising population, and favorable government initiatives to boost the construction sector drive the demand for naphthalene-based products in this region. Moreover, the growing focus on sustainable practices and the adoption of advanced technologies in industries such as chemicals and textiles further contribute to the rapid growth of the naphthalene market in the Middle East and Africa.

Global Naphthalene Market By Geography, 2024-2031
  • Largest
  • Fastest

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Naphthalene Market Dynamics

Naphthalene Market Drivers

Increasing demand from the construction industry

  • One key driver of the global naphthalene market is the growing demand from the construction industry. The construction sector is expanding worldwide, particularly in emerging economies, driven by urbanization, population growth, and infrastructure development. Naphthalene-based products, such as concrete admixtures, are widely used to enhance the performance and durability of concrete in construction projects. The increasing need for high-quality construction materials and the demand for sustainable and energy-efficient buildings propel the growth of the naphthalene market.

Naphthalene Market Restraints

Environmental concerns associated with naphthalene's toxicity and potential health hazards

  • One key restraint of the global naphthalene market is the environmental concerns associated with naphthalene's toxicity and potential health hazards. Naphthalene is considered a hazardous substance and may pose risks to human health and the environment. This has led to stricter regulations and restrictions on its usage, particularly in regions with stringent environmental standards. The need for sustainable and eco-friendly alternatives to naphthalene, along with the implementation of safety measures, presents a challenge for the market's growth. Manufacturers are increasingly focusing on sustainable production methods and exploring substitutes to address these concerns and comply with regulations.

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Naphthalene Market Competitive Landscape

The competitive landscape of the global naphthalene market is characterized by intense competition among key players striving to gain a larger market share. These companies focus on product innovation, strategic partnerships, and expansion of production capacities to stay ahead in the market. The market is consolidated, with a few major players holding significant market positions. Moreover, there is a presence of numerous regional and local players, particularly in emerging economies, which contribute to the competitive dynamics. Key factors influencing competition include product quality, pricing strategies, distribution networks, and customer relationships. Additionally, companies in the market are actively investing in research and development activities to enhance their product portfolios and gain a competitive edge.

Naphthalene Market Top Player’s Company Profiles

  • CARBOTECH (Germany)
  • Epsilon Carbon Private Limited (India)
  • Koppers Inc. (US)
  • Rütgers Group (Germany)
  • Nippon Steel Chemical Co., Ltd. (Japan)
  • Baoshan Iron & Steel Co., Ltd. (China)
  • Haldia Petrochemicals Limited (India)
  • Koppers Holdings Inc. (US)
  • Daejung Chemicals & Metals Co., Ltd. (South Korea)
  • Himadri Speciality Chemical Ltd. (India)
  • Formosa Petrochemical Corporation (Taiwan)
  • WUXI HENGLI PETROCHEMICALS CO., LTD. (China)
  • JFE Shoji Trade Corporation (Japan)
  • Shandong Sanwei Trade Co., Ltd. (China)
  • RÜTGERS Belgium NV (Belgium)
  • Aum Chemicals (India)
  • Sinobioway Group Co., Ltd. (China)

Naphthalene Market Recent Developments

  • In November 2022, Sulzer Chemtech Ltd. was awarded a contract to provide process engineering and essential equipment to support the expansion of the naphthalene downstream industry in Indonesia. The Dong-Suh company in Indonesia will benefit from the installation of an advanced separation unit at their Serang plant, enabling the production of highly pure naphthalene.
  • In September 2022, Epsilon Carbon announced plans to invest approximately USD 71 million in Karnataka to expand its carbon black production capacity. The investment will lead to an increase in annual production from 115,000 tons to 215,000 tons. The carbon black feedstock will be utilized to produce naphthalene, which can be further used in the manufacturing of phthalic anhydrides, pesticides, and concrete plasticizers.
  • In February 2021, Bain Capital, a private equity firm, divested 8.36% of its stake in Himadri Specialty Chemical, reducing its overall interest to 12.7%. Additionally, Bain Capital sold a 6.2% share in a bulk transaction, as reported.

Naphthalene Key Market Trends

  • Growing emphasis on sustainable and eco-friendly production methods: One key market trend in the global naphthalene market is the growing emphasis on sustainable and eco-friendly production methods. As environmental concerns gain prominence, there is an increasing focus on adopting sustainable practices in the chemical industry, including the production of naphthalene. Companies are investing in research and development to explore greener alternatives and eco-friendly processes for naphthalene production. This trend aligns with the rising demand for sustainable products and the need to minimize the environmental impact of chemical manufacturing. By embracing sustainable practices, the naphthalene market is moving towards a more environmentally conscious and socially responsible approach.

Naphthalene Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Naphthalene Market analysis, the global market is witnessing steady growth driven by various factors. The construction sector's expansion, especially in emerging economies, is boosting the demand for naphthalene-based concrete admixtures. Additionally, the textile industry's growth and the increasing consumption of naphthalene in the production of dyes and moth repellents are contributing to market growth. However, environmental concerns regarding naphthalene's toxicity remain a challenge. Companies are focusing on sustainable production methods and exploring alternative substitutes. The market is highly competitive, with major players investing in innovation and strategic partnerships. Key trends include a focus on sustainability and eco-friendly practices, aligning with the increasing demand for environmentally conscious products. Overall, the global market is expected to continue growing, driven by the construction and textile industries and the adoption of sustainable practices.

Report Metric Details
Market size value in 2023 USD 0.32 billion
Market size value in 2031 USD 0.43 billion
Growth Rate 3.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Source
    • Coal tar and petroleum
  • Application
    • Plasticizer, pesticide and surfactant and wetting agent
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • CARBOTECH (Germany)
  • Epsilon Carbon Private Limited (India)
  • Koppers Inc. (US)
  • Rütgers Group (Germany)
  • Nippon Steel Chemical Co., Ltd. (Japan)
  • Baoshan Iron & Steel Co., Ltd. (China)
  • Haldia Petrochemicals Limited (India)
  • Koppers Holdings Inc. (US)
  • Daejung Chemicals & Metals Co., Ltd. (South Korea)
  • Himadri Speciality Chemical Ltd. (India)
  • Formosa Petrochemical Corporation (Taiwan)
  • WUXI HENGLI PETROCHEMICALS CO., LTD. (China)
  • JFE Shoji Trade Corporation (Japan)
  • Shandong Sanwei Trade Co., Ltd. (China)
  • RÜTGERS Belgium NV (Belgium)
  • Aum Chemicals (India)
  • Sinobioway Group Co., Ltd. (China)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Naphthalene Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Naphthalene Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Naphthalene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Naphthalene Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Naphthalene Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Naphthalene Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Naphthalene Market size was valued at USD 0.32 billion in 2021 and is poised to grow from USD 0.33 billion in 2022 to USD 0.43 billion by 2030, at a CAGR of 3.5% during the forecast period (2023-2030).

The competitive landscape of the naphthalene market is characterized by intense competition among key players striving to gain a larger market share. These companies focus on product innovation, strategic partnerships, and expansion of production capacities to stay ahead in the market. The market is consolidated, with a few major players holding significant market positions. Moreover, there is a presence of numerous regional and local players, particularly in emerging economies, which contribute to the competitive dynamics. Key factors influencing competition include product quality, pricing strategies, distribution networks, and customer relationships. Additionally, companies in the market are actively investing in research and development activities to enhance their product portfolios and gain a competitive edge. 'Rain Carbon Inc. (US)', 'JFE Chemical Corporation (Japan)', 'Exxon Mobil Corporation (US)', 'CARBOTECH (Germany)', 'Epsilon Carbon Private Limited (India)', 'Koppers Inc. (US)', 'Rütgers Group (Germany)', 'Nippon Steel Chemical Co., Ltd. (Japan)', 'Baoshan Iron & Steel Co., Ltd. (China)', 'Haldia Petrochemicals Limited (India)', 'Koppers Holdings Inc. (US)', 'Daejung Chemicals & Metals Co., Ltd. (South Korea)', 'Himadri Speciality Chemical Ltd. (India)', 'Formosa Petrochemical Corporation (Taiwan)', 'WUXI HENGLI PETROCHEMICALS CO., LTD. (China)', 'JFE Shoji Trade Corporation (Japan)', 'Shandong Sanwei Trade Co., Ltd. (China)', 'RÜTGERS Belgium NV (Belgium)', 'Aum Chemicals (India)', 'Sinobioway Group Co., Ltd. (China)'

One key driver of the naphthalene market is the growing demand from the construction industry. The construction sector is expanding worldwide, particularly in emerging economies, driven by urbanization, population growth, and infrastructure development. Naphthalene-based products, such as concrete admixtures, are widely used to enhance the performance and durability of concrete in construction projects. The increasing need for high-quality construction materials and the demand for sustainable and energy-efficient buildings propel the growth of the naphthalene market.

Growing emphasis on sustainable and eco-friendly production methods: One key market trend in the naphthalene market is the growing emphasis on sustainable and eco-friendly production methods. As environmental concerns gain prominence, there is an increasing focus on adopting sustainable practices in the chemical industry, including the production of naphthalene. Companies are investing in research and development to explore greener alternatives and eco-friendly processes for naphthalene production. This trend aligns with the rising demand for sustainable products and the need to minimize the environmental impact of chemical manufacturing. By embracing sustainable practices, the naphthalene market is moving towards a more environmentally conscious and socially responsible approach.

The dominant region in the naphthalene market is Asia Pacific. Asia Pacific holds a significant market share due to the presence of key manufacturing hubs and rapid industrialization in countries such as China, India, and Japan. The region's robust chemical, construction, and textile industries drive the demand for naphthalene-based products, including concrete admixtures, plasticizers, and dye intermediates. Additionally, favorable government policies, infrastructure development, and increasing investments in various sectors contribute to the dominant position of Asia Pacific in the naphthalene market.

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Global Naphthalene Market

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