Naphtha Market Trends, COVID-19 Impact, Business Opportunities, Strategies, Key Players Analysis and Forecast

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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 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.

The successful Naphtha Market research provides a thorough explanation of the product type, technology, specifications, and production analysis, taking into account important variables like gross margin, cost, and revenue. In addition, the Porter's Five Forces analysis is used to examine the market status, market share, growth rate, prospects and challenges, opportunities and obstacles, risks and entry barriers, sales channels, and distributors in this industry study. Therefore, this report's clear, reliable, and comprehensive market information and statistics will undoubtedly aid in business development and increase return on investment (ROI). SWOT analysis has been used to provide a detailed description of the market's drivers and constraints.

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

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)

Key Insights Of Naphtha Market Report

  • The report comprises a detailed analysis of different segments and offers market valuations between 2023 to 2030.
  • This study presents the analytical depiction of the Naphtha Market with the current trends and future estimations to determine the imminent investment pockets
  • The report also reveals information with respect to key drivers, restraints, and opportunities coupled with a comprehensive analysis of the global Naphtha Market
  • The forecast period of the  Naphtha Marketis assessed from 2024 to 2030 to highlight the Naphtha Market growth scenario.
  • Porter’s five forces analysis establishes the effectiveness of the buyers and suppliers in the business line.
  • The key players in the industry are profiled to gain an understanding of the strategies adopted by them.
  • This report provides the current trends and future estimations during the forecast period, which in turn aids in identify the prevailing market opportunities.

The company portfolio includes company synopsis, operating business sectors, business overview, product/service categories, and recent growth strategies adopted by them.

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