The Global Naphtha Market Report is a compilation of comprehensive research studies of various aspects of the Naphtha Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Naphtha market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Naphtha market and how they will evolve in the years to come.
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Global Naphtha Market was valued at US$ 152.2 billion in 2022 and is expected to reach US$ 212.9 billion by 2030, growing at an estimated CAGR of 3.8% over the forecast period.. Key Players: Reliance Industries Limited, Exxon Mobil Corporation, China Petroleum & Chemical Corporation, Formosa Petrochemical Co., LG Chem, and Petróleos Mexicanos.
Naphtha is a highly versatile product that can be found in shale oil or refined oil and coal tar. Naphtha is an extremely volatile and water-insoluble flammable and colorless hydrocarbon mixture. It is obtained on an industrial level by distilling organic ingredients, such as shale, petroleum, or gas. It has diverse applications such as gasoline production, cleaning fluids, shoe polishing, and fuel for portable stoves. In the forecast period, the global naphtha market is expected to see significant growth. Increasing naphtha use as a feedstock in the petrochemicals industry is the main driver of market growth.
Throughout the forecast period, the use of aromatics in the manufacturing of edible fats and oils, rubber, and personal care products is expected to drive market growth. Olefins form the primary feedstock for chemical intermediates, polymers, and synthetic rubber processing. Rising demand for plastics in the manufacturing, packaging, and electrical and electronics industries is expected to propel market growth. Naphtha is used as a fuel source for power stoves, lanterns, and heating systems in the electricity and fuel industry, because it has lower emission levels than other hydrocarbon-based fuels such as paraffin, lamp oil, and coal oil. The growing need for clean energy is positively impacting the naphtha market growth across the globe.
There are many specific types of naphtha varying in their unique blend of the amounts and types of hydrocarbons. Refineries can produce different forms of naphtha, and each has specific information on how to handle and store it. Consideration should be given to the flammability and instability of naphtha, as these are significant safety hazards. Recent technological developments such as introduction of advanced furnace components, advanced distillation columns and emerging technologies such as naphtha hydro-pyrolysis and naphtha catalytic cracking, save about 10% of oil, which in turn reduces production costs. Therefore naphtha becomes the ideal feedstock for end-use applications.
Naphtha pyrolysis is the major source of ethylene and other petrochemical olefin feedstock. Naphtha plays an important role as one of the essential downstream petrochemicals. Major price swings in naphtha have been stepped up along with recent Middle East Asian political unrest and growing demand for naphtha in developing countries. Thus naphtha demand forecasting is becoming more unpredictable. Historically, petrochemical firms have been dependent on naphtha price fluctuations because they have had significant effects on their earnings. The price of Naphtha is closely aligned with the price of crude oil. Naphtha’s supply and demand, in particular, influences its price fluctuations more directly. Building models for naphtha price forecasting would help to minimize any loss from fluctuations in naphtha prices.
Specific definitions have been applied by different sources to the word naphtha, to make it more specific: namely Light naphtha & heavy naphtha. Light naphtha: most of the hydrocarbons are formed with an IBP of approximately 30 ° C and an FBP of approximately 145 ° C, with 5 to 6 carbon atoms. Heavy naphtha: comprises most of the hydrocarbons with an IBP of about 150 degrees Celsius and an FBP of about 205 degrees Celsius. The value of oil diluents has increased as the global production of lighter crude oils has declined and has moved to the extraction of heavier reserves. The use of traditional naphtha has allowed improved combustion and has been implemented in various applications for end-use. However, traditional naphtha has been considered one of the main causes of air pollution around the globe with technological progress. As a result, the use of naphtha in end use industries has replaced other types of efficient fuels such as gasoline, natural gas, green naphtha, etc. Renewable naphtha is a co-product of renewable fuel and a 100% gasoline mixture. Renewable naphtha comes from oils and fats that minimize harmful emissions in contrast with petroleum-based naphtha.
Naphtha market is expected to experience substantial growth over the next seven years due to increasing global demand for transport fuel. Rising commodity demand in the cycle of hydrocarbon cracking is expected to direct its production in the petrochemical market. Popular output sources include refineries, coal, and chemical plants. Crude oil refining is an essential part of manufacturing process. The cracking of hydrocarbons under extreme pressure and temperature demands highly resilient components. Other factors which control material choice include environmental regulations and regional prices.
The major drivers of the studied market include India’s rising demand for fertilizers. Naphtha demand in India is driven primarily by the growing demand from the petrochemical industry as a feedstock for the production of petrochemical components such as olefins, aromatics, etc. Therefore, the aforementioned factors are likely to increase demand for naphtha in the end-user industries for various applications. It, in effect, is expected to drive naphtha demand, over the forecast period. However, US demand for natural gas liquid is expected to impede market growth studied. In the future, rising demand for jet fuel is expected to act as a market opportunity. The Asia-Pacific region dominates the global naphtha market with increasing demand for naphtha coming from fast-developing countries such as China, India and Japan. Naphtha is used as Light Naphtha and Heavy Naphtha in various industries. Naphtha is used as feedstock mostly in the petrochemical industry. In the petrochemical industry about 50 per cent of the naphtha produced is used.
- By Application
- Energy & Fuel
- By Geography
- North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- North America
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