Naphtha Market Future Trends and Scope Analysis by 2023

“We have produced a new premium report Naphtha Market. The report covers the analysis of global as well as regional markets of Naphtha. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Naphtha Market by application (chemicals, energy, and fuels) through main geographies in the global market such as North America, Europe, Asia-Pacific and RoW.

The report covers market changing dynamics including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Naphtha Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Naphtha Market are Shell Chemicals, British Petroleum, Chevron, ExxonMobil, Mitsubishi Chemical, Reliance Industries, Total SA, Indian Oil Corp., Novatek, Novachem, SABIC, Saudi Aramco, PetroChina Company Limited, Sinopec Corp., ADNOC and The Dow Chemicals Company.”

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Increasing Demand of Petrochemicals, Primarily Propylene and Ethylene for the Production of Plastic Will In Turn Drive the Global Naphtha Market

The global Naphtha market was sized over USD XX billion in 2015. The global Naphtha market is projected to grow with a CAGR of x.xx% during 2017-2023 and reach USD XX billion by 2023. Increasing demand of gasoline globally is the prime factor driving the growth of naphtha market. Furthermore, growing demand for naphtha as a feedstock in petrochemical industry will also drive the global naphtha market over the forecast period. However, volatility in crude oil prices and stringent government regulations associated with the manufacturing of naphtha considering its toxicity will remain the major restraining factor of global naphtha market. Moreover, availability of other cheaper alternatives such as LPG and shale gas will also restrain the growth of global naphtha market over the forecast period. Hence, recent technological developments such as advance furnace materials and advanced distillation process as well as growing focus on developing economies will bring more opportunities to the global naphtha market over the forecast period.

Asia Pacific is estimated to Command the Largest Share of the Market

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, Latin America and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.

Asia Pacific is the largest market for naphtha accounted for over 60% of the total volume share. Furthermore, Asia Pacific is likely to continue its dominance in the global naphtha market due to growing chemical industry and expanding end use industries such as construction, automotive and plastic in developing economies like India, Taiwan and South Korea. Asia Pacific is anticipated to grow at a highest CAGR rate over the forecast period due to growing global demand of naphtha. North America is the second largest market for naphtha following the Asia Pacific and is likely to witness moderate growth due to higher prices of naphtha and shifting trends towards availability of other cheaper alternatives. Furthermore, Europe is also likely to witness slow growth rate sue to higher crude oil prices primarily required for the distillation of naphtha. However, Latin America naphtha market will foresee a positive growth due to rising end use industries especially in Brazil and Mexico. Growing chemical industries in RoW especially in Middle East due to its geographical advantage and presence of oil refineries will bring more opportunities to the RoW naphtha market over the forecast period.

Segments Covered in this Premium Report:

The report segments the naphtha market by application and by region. Naphtha market segmentation based on application includes chemicals, energy/fuels and others. Moreover, chemical industry segment dominates the global naphtha market due to increasing usage in steam cracking process.

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