Naphthenic Acid market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Naphthenic Acid market.
Naphthenic Acid: Introduction
Naphthenic Acid is a complex combination of predominantly naturally occurring organic acids which are procured from petroleum fractions by saponification and Acidification. In crude oil, Naphthenic Acids are recovered from refinery streams which occur naturally and are not formed during the process of refining. Heavy crudes have the highest acid content and often have low Acid content in paraffinic crudes. Although the existence of Naphthenic Acids has been identified in nearly all crude oil varieties, only certain crudes based on Naphthenic Acid produce sufficiently high levels which require treatment to meet product specifications. Naphthenic Acids are obtained from petroleum distillate caustic extraction, primarily kerosene and diesel fractions. Naphthenic Acid is an important industrial chemical, used to synthesize metal naphthenate salts mostly as a compound.
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Naphthenic Acid: Market Dynamics
One of prominent driving factors of Naphthenic Acid market is that in addition to improving the technical properties, processing stability, and odor of finished kerosene and diesel fuels, it reduces corrosion in the refinery. Some of the applications of distilled Naphthenic Acid derivatives are primarily as amine derivatives for corrosion inhibitors, wood preservatives, and cord adhesion promoters and as oil-soluble metal soaps. The growth of the wood preservatives coating market is positively influenced by rapid urbanization and industrialization due to the increase in infrastructure activities.
One of the challenging factors for the Naphthenic Acid market is that this acid is firmly meant for industrial purposes only in strict compliance with the requirements for Material Safety Data Sheets (MSDS). Certain health hazards such as damage of heart and liver, haemorrhage of the brain, liver enlargement may crop up in case of direct contact with Naphthenic Acid. When inhaled at lethal doses, Naphthenic Acid could lead to cause and respiratory arrest, weakness of the nervous system, and other serious side effects. Severe shortage of crude Naphthenic Acid has resulted in the decline of the market. In addition, Naphthenic Acid production was also limited by the great smell and the polluting by-products.
High-purity Naphthenic Acid is usually used in the laboratories of colleges and schools as well as in numerous industries including the automotive industry in chemical research laboratories. There are a number of R&D organizations in the developing nations such as the U.S., Germany etc. wherein Naphthenic Acid is being utilized coupled with easy availability of specialized laboratory equipment and domestic support. It is predicted that this factor will drive the Naphthenic Acid market forward over the forecast period. Demand for solvent-based wood preservatives from Naphthenic Acid on account of high penetration and lower cost, is anticipated to rise in developing countries.
High-temperature corrosion inhibitors improved with Naphthenic Acid offer new alterations to phosphate esters, enabling refiners to continue using low-cost acidic crudes. Because of its excellent anti-scaling properties, the emergence of a cost-effective alternative to phosphate ester in industrial coating is expected to provide new avenues to fuel the Naphthenic Acid market.
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Naphthenic Acid: Market Participants
Some of the global players of the Naphthenic Acid market are as follows:
- Merichem Company
- Umicore Cobalt & Specialty Materials (CSM)
- Midas Chemical Company Limited
Based on type, the Naphthenic Acid market can be segmented into:
- High-purity Naphthenic Acid
- Refined Naphthenic Acid
Based on application, the Naphthenic Acid market can be segmented into:
- Rubber Additives
- Paint and Ink Driers
- Fuel and Lubricant Additives
- Wood Preservatives
Based on Sales Channel, the Naphthenic Acid market can be segmented into:
- Direct channel
- Distributor
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