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2,6-Dimethylnaphthalene Market - Forecast(2023 - 2028)
2,6-Dimethylnaphthalene Market Overview
The 2,6-Dimethylnaphthalene Market size is forecasted to reach a value of US$1.1 billion by the end of 2027 after growing at a CAGR of 3.7% during the forecast period 2022-2027.
2,6-Dimethylnaphthalene (DMN) is a polycyclic aromatic hydrocarbon that is naturally available in water bodies and can be determined by gas chromatography. It is derived
from naphthalene with the addition of two methyl groups and it is one of the
ten isomers of Dimethylnaphthalene.
It is considered a key intermediate compound in the production of
polyethylene naphthalate. Different zeolites such as SAPO-11, HUSY and HZSM-5
are utilized during the manufacturing of 2,6-Dimethylnaphthalene. Among all the
zeolites, SAPO-11 provides superior stability and shape-selectivity while producing 2,6-DNM from methylation of naphthalene.
Polyethylene naphthalene exhibits superior properties as compared to polyethylene
terephthalate.
COVID-19 Impact
Many industries
across the globe have faced several challenges due to the COVID-19 pandemic.
Several industries such as electrical and electronics, plastic, food, aviation
and many others have experienced pitfalls. Many projects in such
industries have been halted due to an interrupted supply chain and employee
shortages amidst the lockdowns. Also, the production and demand in the electronics
industry have declined due to an interrupted supply chain and cessation in
transportation. According to the Japan Electronics and Information Technology
Industries Association, the global production by Japanese electronics companies declined by 5% in 2020. Thus, the global pause in industrial production and
distribution and the demand and consumption of 2,6-Dimethylnaphthalene has been hampered to an extent across several industries. Also, a decrease in the output of the electronics industry hindered the market growth during the pandemic.
Report Coverage
The “2,6-Dimethylnaphthalene Market Report –
Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the
following segments in the 2,6-Dimethylnaphthalene industry.
Key Takeaways
- Asia-Pacific is the dominating region in the global 2,6-Dimethylnaphthalene Market. This growth is mainly attributed to the increased demand for 2,6-Dimethylnaphthalene in polyethylene naphthalate production.
- The significant growth in the packaging industry is driving the global 2,6-Dimethylnaphthalene Market growth.
- 2,6-Dimethylnaphthalene plays an important role in several applications such as aviation, insulation material and electrical component which is expected to significantly boost the global 2,6-Dimethylnaphthalene Market growth.
2,6-Dimethylnaphthalene Market Segment Analysis – by Application
The polyethylene
naphthalate films segment held the largest 2,6-Dimethylnaphthalene Market share (27%) in 2021. 2,6-Dimethylnaphthalene is considered one
of the most suitable raw materials for the production of polyethylene
naphthalene dicarboxylate which is a commercially valuable polymer. It is used as a functional polymer in a wide
range of applications owing to its superior thermal and chemical stability,
beneficial mechanical properties and gas barrier properties. It is further
used in the formation of polyethylene naphthalate films. According to Plastic
Europe, in 2021, the global production of plastic accounted for 367 million
tons. Thus, an increase in global production of plastic provides the growth
opportunity for polyethylene naphthalene, further boosting the market for 2,6-Dimethylnaphthalene.
2,6-Dimethylnaphthalene Market Segment Analysis – by Geography
Asia-Pacific held the largest 2,6-Dimethylnaphthalene Market share (35%) in 2021. This growth is mainly attributed to the increase in demand for 2,6-Dimethylnaphthalene in several applications such as electronic components, polyethylene naphthalate films, aviation and packaging among many others. The presence of various developing countries such as China, India, Indonesia, Malaysia and others is supporting the growth of the market. According to Plastic Europe, China accounted for 32% of the world's plastic production. Also, Future Agenda stated that according to The International Air Transport Association, the global number of passenger departures each year would reach $16 billion by 2050. Thus, the growth in plastic production and the aviation industry is fueling the demand for 2,6-Dimethylnaphthalene.
2,6-Dimethylnaphthalene Market Driver
Surge in Plastic Production and Significant Growth in Packaging Industry
Over the years, the packaging industry has evolved with the adoption of developed technologies, green practices and sustainable production across the globe. 2,6-Dimethylnaphthalene is used extensively in the production of polyethylene naphthalate (PEN) polymers and is remarkably utilized as a substitute for polyethylene terephthalate (PET). Environment regulation related to the use of sustainable material for packaging has further boosted the demand for 2,6-Dimethylnaphthalene in packaging. It is utilized as a packaging material for food packaging, specifically beverage packaging, such as beer and juice. Moreover, there is an increased production of plastic owing to the high demand from several end-use industries. According to the "Our World in Data" publication, on annual basis, the world produces more than 380 million tonnes of plastic every year. Thus, the increase in the production of plastic and growth in the packaging industry is boosting the growth of the global 2,6-Dimethylnaphthalene Market.
2,6-Dimethylnaphthalene Market Challenge
High-cost Requirement in the Production of 2,6-Dimethylnaphthalene
2,6-Dimethylnaphthalene
is mainly used in the production of polyethylene naphthalate (PEN) polymer
which is further used in a range of applications. It is referred to as a costly
intermediate for the production of PEN through 2,6-naphthalene dicarboxylic
acid monomer. Currently, 2,6-Dimethylnaphthalene is formulated through a four-step process from butadiene and o-xylene. However, this process is considered a
bit complex. The starting agents are environmentally harmful, complicated and
expensive. Thus, the expensive manufacturing process of 2,6-Dimethylnaphthalene
is hampering the growth of the global market.
2,6-Dimethylnaphthalene Industry Outlook
The top 10 companies in the 2,6-Dimethylnaphthalene Market are -
- BP Amoco
- Maya High Purity Chemicals
- Chengdu XiYa Chemical Technology
- Mainchem Co. Ltd.
- Hangzhou Yuhao Chemical Technology
- ExxonMobil
- Optatech
- Chevron
- J&K Scientific Ltd.
- BOC Sciences
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