Naphtha Market: Global Industry Trends, Growth, Share, Size, Regional Analysis and Forecast By 2023

Global Naphtha Market Research Report, Share, Size, Trends, Growth and Key Players

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Report Description and Highlights

Report Description

Naphtha Market Report By Application (Petrochemical Feedstock, Gasoline Blending and Others), Region, Key Players The global naphtha market has witnessed a steady growth over the past years. This can be attributed to the rising demand for petrochemicals, high-octane gasoline, plastics, industrial solvents, olefins, aromatic hydrocarbons, etc.

Market Overview: Naphtha is a colourless, extremely volatile and highly flammable liquid hydrocarbon mixture. It is obtained during the distillation of coal tar, petroleum or wood. Depending on its composition, source and use, naphtha is known by several names including petroleum spirits, shellite, ligroin, white gas, etc. It is majorly used as a feedstock for manufacturing high-octane gasoline component. Apart from this, naphtha also finds applications in the chemical and paint industries as a solvent and paint thinner.

A new research report by IMARC Group, titled “Naphtha Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023� estimates that the global naphtha market was worth US$ 144 Billion in 2017. The report further anticipates the market to reach a value of US$ 181 Billion by 2023, at a projected CAGR of more than 3% over the forecast period.

Report Description and Highlights

Report Description

Global Naphtha Market Drivers/Constraints: • • •

•

Naphtha is employed as a feedstock in the petrochemical industry for the production of several olefins and aromatics such as ethylene, propylene, butadiene, benzene and toluene. Growth in the petrochemical industry is increasing the demand for naphtha globally.

Derivatives of naphtha are used for manufacturing industrial chemicals, plastics and synthetic fibre precursors. A rise in the usage of these end-products has created an attractive market for naphtha, thereby facilitating the market growth.

Olefin-rich naphtha is used for blending gasoline as it enables economic production of highoctane fuel. A surge in the demand for low-cost fuel due to expanding population and rapid urbanization has further increased the consumption of naphtha in both the developed and developing regions.

There are myriad factors that hamper the growth of the global naphtha market. Naphtha needs high safety precautions as it is volatile at room temperature and toxic in nature.

Naphtha Market Segmentation: Market Segmentation by Application Request for a free sample copy: https://www.imarcgroup.com/request?type=report&id=872&flag=B

Market Forecast

Sample Figure: Global: Naphtha Market Forecast: Sales Value (in Billion US$), 2018-2023

184.3

191.7

199.3

207.3

2018

2019

2020

2021

215.6

224.2

2022

2023

Market Segmentation

Report Description • • •

Petrochemical Feedstock Gasoline Blending Others

Based on application, the market has been segmented into petrochemical feedstock and gasoline blending. Among these, petrochemical feedstock holds the majority of the global market share as naphtha is one of the primary raw materials used in the production of petrochemicals such as propylene, ethylene, toluene, benzene, etc.

Market Segmentation by Region • • • • •

Asia Pacific North America Europe Middle East and Africa Latin America

On a geographical front, Asia Pacific enjoys a leading position in the global naphtha market. Rising consumption of plastics in the region has escalated the demand for petrochemicals, thereby bolstering the growth of the market. Other major regions include Europe, North America, Latin America, and Middle East and Africa.

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description Competitive Landscape:

The competitive landscape of the global naphtha market has also been analysed with some of the leading players being: • • • • • • • • • • • • • •

BP Chevron ExxonMobil Lotte Chemical Corporation Mangalore Refinery and Petrochemicals Limited OAO Novatek SABIC Shell Chemicals Sinopec Total S.A. Vitol Mitsubishi Chemical Reliance Industries Limited Indian Oil Corporation

Browse naphtha market report with TOC: https://www.imarcgroup.com/naphtha-market

Market Segmentation

Report Description

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Report Description and Highlights

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