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.
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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)
Scope of the Naphtha Market Report:
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
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Naphtha Market Regional Analysis/Insights
The Naphtha market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Naphtha market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Naphtha within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Naphtha market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.
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