Naphtha Market Size Worth USD 215.55 billion Globally with Excellent CAGR of 3.94% by 2029, Size, Share, Rising Trends, Market Demand and Revenue Outlook

The comprehensive Naphtha Market research report, which provides the best experience for the business and the user, is produced using the most sophisticated tools and processes. The market state, market share, growth rate, sales volume, potential and challenges, market drivers, market restraints, revenue generation, risks and entry barriers, sales channels, and distributors are all assessed in this market analysis. This market study may provide a wealth of knowledge and practical business solutions to help you keep one step ahead of the competition. The Naphtha Market Analysis Report's competitive landscape section offers a comprehensive understanding of the market share analysis and strategies employed by major industry participants.

Explore Further Details about This Research Naphtha Market Report https://www.databridgemarketresearch.com/reports/global-naphtha-market

Global naphtha market is being driven by the increasing product consumption in several industries such as transportation, construction, and plastic. The rising demand for gasoline is raising the growth of the naphtha industry as the olefin-rich material is widely used for blending the gasoline-grade fuel. Furthermore, the growing demand for petrochemicals, like ethylene and propylene for the manufacturing of plastics, is driving the global naphtha market. More, the advent of alternative technologies such as hydro-pyrolysis of the product which saves energy and helps in decreasing the production cost. This, coupled with the growth of distillation column and advanced furnace materials is creating a positive outlook for the global naphtha market.

Data Bridge Market Research analyses that the naphtha market was valued at USD 158.23 billion in 2021 and is expected to reach USD 215.55 billion by 2029, registering a CAGR of 3.94 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Market Definition

Naphtha is a type of gasoline or raw petrol which has distilled from raw material and crude oil for the chemical industry. Naphtha consists the portions from crude oil, with a boiling temperature from 30 °C to 200 °C and may have a major share of aromatic compounds. Naphtha refers to a highly versatile hydrocarbon compound that is flammable, colorless, and extremely volatile. It is produced by the distillation of organic substances including wood, coal tar, petroleum, and shale. Naphtha is known by many names such as coal tar naphtha, wood naphtha, petroleum spirits, shellite and white gas it is depending on its source or composition.

Drivers

Demand in petrochemical industry

Naphtha is used for manufacturing olefins and aromatics like ethylene, toluene, benzene, butadiene, and propylene in the petrochemical industry. Due to the Continuous growth in the industry it has been proactive in maintaining the growth of the naphtha market.

Rise the demand of olefin rich naphtha

Olefin-rich naphtha is the derivative of the naphtha which is mostly used as a feedstock for processing the cost-effective high-octane diesel. The consumption of Naphtha consumption has increased in both industrialized and emerging economies due to the growing demand for cost-effective fuel because of increasing population and rapid urbanization.

Naphtha as a solvent

People generally use petroleum naphtha as a solvent. It can be found in several cleaning agents. It is also used as dilution agent for varnish, paints and asphalt. Dry-cleaning industries also use naphtha in their processes. Due to this increase the demand of naphtha and are expected to increase the growth of naphtha market.

Global Naphtha Market Scope

The naphtha market is segmented on the basis of type, process, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Light Naphtha
Heavy Naphtha

 Process

Gasoline Blending
Naphtha Reforming    
Steam Cracking
Others

Application

Chemicals
Energy and Fuel
Others

End-User

Petrochemical
Agriculture
Paints and Coatings
Aerospace
Others

Some of the major players operating in the naphtha market are:

Chevron Corporation. (US)
Reliance Industries Limited (India)
Shell Chemicals (US)
SABIC (Saudi Arabia)
BP PLC (UK)
Exxon Mobil Corporation. (US)
China Petrochemical Corporation (China)
Indian Oil Corporation Ltd (India)
Novatek (Russia)
Mitsubishi Chemical Corporation (Japan)
Lotte Chemical Corporation (South Korea)
Mangalore Refinery and Petrochemicals Limited (India)
NOVA Chemicals Corporate (Canada)
China Petrochemical Corporation. (China)
Formosa Plastics Corporation (Taiwan)
LG Chem (South Korea)
Petróleos Mexicanos (Mexico)
MGTPetroil, (US)
Vitol (Netherlands)

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