Naphtha Market

Naphtha Market by Types (Light Naphtha and Heavy Naphtha), End-users (Petrochemicals, Agriculture, Paints & Coatings, Aerospace, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

  • Report ID: MC-3008
  • Author: Growth Market Reports
  • Rating: 4.5
  • Total Reviews: 3
  • No. Of Pages: 220
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The global naphtha market is projected to register a substantial CAGR during the forecast period, between 2021 and 2028. Naphtha refers to a highly flammable hydrocarbon mixture that is a toxic type of raw petrol or gasoline. Naphtha is obtained by distillation of crude oil and is utilized as a raw material for the chemical industry. The presence of straight chains of alkanes or paraffin in naphtha allows it to dilute heavy oil and produce high-octane gas and use it to clean metal. Naphtha is also an essential part of hydrocarbon cracking process, which is conducted under extreme pressure and heat, due to its superior heat resistant properties. Naphtha can be produced from natural gas condensates, petroleum distillates, and the distillation of coal tar and peat.

Naphtha Market

Market Trends, Drivers, Restraints, and Opportunities:

  • Rising consumption of naphtha in the petrochemical industry and the demand for fertilizers is a major driver for the naphtha market.
  • Naphtha is a crucial component for plastics as well. The wide use of plastic in daily life can spur the demand for naphtha in the market.
  • Growing requirement for economical high octane fuel in both developing and developed countries is fostering the growth of the market.
  • The volatility of the prices of crude oil has negatively impacted the naphtha market as the production of naphtha depends on the availability of crude oil.
  • The COVID-19 brought a hard time for the producers and manufactures in the naphtha market. However, relaxation in restrictions is positively influencing the market growth.
  •  Lack of investments, economic breakdown, and lack of skilled labour stunted the growth of the market.
  • Rapid rate of industrialisation and urbanisation, especially in developing countries has increased the demand for fuel and naphtha, thus driving the market growth during the forecast period.

Scope of the report:

The report on the global naphtha market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Naphtha Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Types (Light Naphtha and Heavy Naphtha), End-users (Petrochemicals, Agriculture, Paints & Coatings, Aerospace, and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Naphtha Market Segment Insights:

Rising petrochemical feedstock use has driven the light naphtha segment

Based on types, the naphtha market can be bifurcated into light naphtha and heavy naphtha. Light naphtha refers to the fraction boiling between 30°C and 90 °C consisting of molecules with five to six carbon atoms. Naphtha is used as a base material for the production of high-grade gasoline through catalytic reforming process. It has petrochemical uses as it is used in steam crackers in order to produce ethylene, which ultimately results in the manufacturing of plastics. Heavy naphtha refers to a distillation cut which has the same density as finished gasoline. Heavy naphtha has approximately seven to nine carbon atoms , which is produced from the atmospheric distillation unit.

Naphtha Market

Wide application of naphtha drives the petrochemical segment

On the basis of end-users, the market can be segmented into petrochemicals, agriculture, paints & coatings, aerospace, and others. The petrochemicals segment is rapidly growing due to the wide application of naphtha as a fuel and the increasing investments in the petrochemical industry toward the manufacturing of naphtha, using crude oil. Naphtha is used for manufacturing aromatics and olefins in the petrochemical industry. The aerospace uses naphtha as a fuel. Naphtha is used by the paints & coatings industry as an excellent paint thinner and is used as a cleaning agent due to its ability to dissolve with a greater volatility. The agriculture segment uses naphtha as a fertilizer, especially in the plant reformers, where high temperatures are required. It is also used as a fuel for steam generation in the plants where reforming is done with steam.

Naphtha Market

Asia Pacific to dominate the market

In terms of regions, the global naphtha market can be fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific constituted a significant share of the market in 2020 due to rapid urbanization in developing countries such as China, India, and Japan. Moreover, increase in investments by petrochemical industries and growing automotive infrastructure are driving the market in Asia Pacific. The market in North America is projected to expand at a significant CAGR during the forecast period due to growing expenditure in the petrochemical industry.

Naphtha Market

Segments

Segments covered in the report

By Types

  • Light Naphtha
  • Heavy Naphtha

By End-users

  • Petrochemicals
  • Agriculture
  • Paints & Coatings
  • Aerospace
  • Others

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

Competitive Landscape

Key players in the global naphtha market include Reliance Industries Limited; Exxon Mobil Corporation; Saudi Arabian Oil Co.; Formosa Petrochemical Corporation; and LG Chem.

These players have widely engaged in several market development strategies including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to strengthen their geographical presence and expand their customer base globally.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Naphtha Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Naphtha Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Naphtha Market - Supply Chain
  4.5. Global Naphtha Market Forecast
     4.5.1. Naphtha Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Naphtha Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Naphtha Market Absolute $ Opportunity
5. Global Naphtha Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Naphtha Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Naphtha Demand Share Forecast, 2019-2026
6. North America Naphtha Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Naphtha Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Naphtha Demand Share Forecast, 2019-2026
7. Latin America Naphtha Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Naphtha Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Naphtha Demand Share Forecast, 2019-2026
8. Europe Naphtha Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Naphtha Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Naphtha Demand Share Forecast, 2019-2026
9. Asia Pacific Naphtha Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Naphtha Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Naphtha Demand Share Forecast, 2019-2026
10. Middle East & Africa Naphtha Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Naphtha Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Naphtha Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Naphtha Market: Market Share Analysis
  11.2. Naphtha Distributors and Customers
  11.3. Naphtha Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)

Segments covered in the report

By Types

  • Light Naphtha
  • Heavy Naphtha

By End-users

  • Petrochemicals
  • Agriculture
  • Paints & Coatings
  • Aerospace
  • Others

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

Key players in the global naphtha market include Reliance Industries Limited; Exxon Mobil Corporation; Saudi Arabian Oil Co.; Formosa Petrochemical Corporation; and LG Chem.

These players have widely engaged in several market development strategies including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to strengthen their geographical presence and expand their customer base globally.

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