Naphtha Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Process, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030

Format: Online | Last Updated: Nov 2021

[Online Quarterly Update] The Naphtha Market has shown considerable growth as it reached 422 million tonnes in 2020 and is projected to achieve a healthy CAGR of 3.87% during the forecast period 2022-2030. Naphtha is a mixture of hydrocarbon molecules that consists of between 5 and 10 carbon atoms. It is a volatile, colorless, and flammable liquid that does not dissolve in water. It is usually produced from natural gas condensates, petroleum distillates, and the distillation of coal tar and peat. One of the major sources of Naphtha is crude oil which is widely used as a precursor to gasoline, butane, and other liquid fuels. 
 
The industrial Type of Naphtha includes it as a raw material to produce plastics like polyethylene and polypropylene. It is extensively used as solvents for paints, dry-cleaning, cutback asphalts, rubbers, industrial extraction processes, and others. Naphtha has the ability to burn cleanly, which makes it an ideal chemical to use in heating units, power stoves, blowtorches, and cigarette lighters. In the Naphtha cracking process, ingredients like aromatics and olefins are used. Among these, aromatics are highly used in the production of edible fats whereas, olefins are used for making chemical intermediates, synthetic rubbers, plastics, etc., rising demand for aromatics and olefins by the food & beverage and chemical industry is expected to drive the market in the next few years. Naphtha is one of the most important feedstock chemicals in the petrochemical industry as it is used in the production of benzene, ethylene, butadiene, toluene, propylene, and xylene, which are further used to make products like synthetic fiber, synthetic resins, synthetic rubber, dyes, medicine, and others.
 
 On the basis of end-user industry, the market is segmented into petrochemical, agriculture, paints and coatings, aerospace, and others. The growing demand for Naphtha by the major end-user petrochemical industry is likely the boost the market over the next ten years. Due to rapid urbanization and industrialization in emerging as well as industrialized economies, the demand for cost-effective fuel is increasing, which is likely to accelerate the demand for Naphtha, further propelling the market in upcoming years. The initiative to construct a number of chemical plants in the Asia Pacific region is expected to produce various plastics, along with other petrochemical products used in end-use industries, such as automotive, electronics, battery vehicles, and others are anticipated to boost the Naphtha market in the forecast period until 2030. 
 
At the onset of COVID-19, in 2020, there was a major decline in the demand for Naphtha which further affected the Naphtha market across the globe. During the first half of 2020, several industries including construction, aerospace, automotive, and others were drastically affected due to disruptions in the supply chain of raw materials. Due to the travel restrictions in covid times, the demand for airplanes decreased through which the aerospace industry witnessed an exponential decline. As the restrictions are uplifting, the markets and operations are slowly resuming, which is likely to boost the demand for Naphtha as a feedstock by the petrochemical industry in the upcoming year.  
 
Region-wise, the Asia Pacific region dominated the market in 2020 and is anticipated to maintain its dominance in the forecast period. The dominance of the Naphtha market in the Asia Pacific is driven by the growth and developments in major end-user industries including petrochemical, agrochemical, construction, and others. As gasoline is a refined Naphtha, emerging economies like China and India are the major consumers of gasoline and its continuously growing demand is likely to boost the Naphtha market across the globe over the next ten years.  
 
Major players for Naphtha globally include Reliance Industries Limited, Exxon Mobil Corporation, Saudi Arabian Oil Co., LG Chem, Formosa Petrochemical Corporation, Mitsubishi Chemical Corporation, China Petrochemical Corporation, BP PLC, Shell Chemicals, Chevron Corporation, Reliance Industries Limited, Mangalore Refinery and Petrochemicals Limited, and Others. 
 
Years considered for this report:
 
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
 
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Objective of the Study: 

• To assess the demand-supply scenario of Naphtha which covers production, demand and supply of Naphtha market globally.
• To analyse and forecast the market size of Naphtha.
• To classify and forecast global Naphtha market based on Type, technology, end-use and regional distribution.
• To identify drivers and challenges for global Naphtha market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Naphtha market.
• To identify and analyse the profile of leading players involved in the manufacturing of Naphtha.
 
 
To extract data for global Naphtha market, primary research surveys were conducted with Naphtha manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Naphtha market over the coming years. 
 
ChemAnalyst calculated Naphtha demand globally by analyzing the historical data and demand forecast which was carried out considering imported Naphtha, styrene prices, monomers used for production of Naphtha. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 
 
Key Target Audience:
 
• Naphtha manufacturers and other stakeholders
• Organizations, forums and alliances related to Naphtha distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
 
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Naphtha manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
 
Report Scope:
 
In this report, global Naphtha market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
 
Attribute
Details
Market size volume in 2020
422 million tons
Growth Rate
CAGR of 3.87% from 2021 to 2030
Base year for estimation
2020
Historic Data
2015 – 2019
Forecast period
2022 – 2030
Quantitative units
Demand in tons and CAGR from 2021 to 2030
Report coverage
Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
Segments covered
1• By Type (Heavy Naphtha and Light Naphtha)
2• By End-Use (Petrochemical, Agriculture, Paints and Coatings, Aerospace, and Others)
3• By Sales Channel (Direct Company Sale, Direct Import, Distributors & Traders)
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & Africa
Country scope
United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
Key companies profiled
Reliance Industries Limited, Exxon Mobil Corporation, Saudi Arabian Oil Co., LG Chem, Formosa Petrochemical Corporation, Mitsubishi Chemical Corporation, China Petrochemical Corporation, BP PLC, Shell Chemicals, Chevron Corporation, Reliance Industries Limited, Mangalore Refinery and Petrochemicals Limited, and Others.
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needsExplore purchase options
 
Available Customizations:
 
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs. 
 
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com
 

Frequently Asked Questions (FAQ):

What are the major applications of Naphtha? 

Naphtha finds its applications in petrochemicals, agriculture, paints and coatings, aerospace, and others. 

Which region demands the maximum share in the global Naphtha market as of 2020?

Asia-Pacific region holds the maximum share of the global Naphtha market owing to the developments in the major end-user industries. 

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