Naphtha Market Information: by Type (Light Naphtha, Heavy Naphtha), Application (Chemicals, Energy and Fuel, Others), Process (Gasoline Blending, Naphtha Reforming, Steam Cracking, Others), and Region (Asia-Pacific, North America) Forecast till 2030

Naphtha Market Overview: 

Naphtha Market is expected to have good growth globally across its segments by the end of the forecast period in 2030. The compound annual growth rate for the market stands at 3.60% as the consumption is at an all-time high, especially in the petrochemicals industry. 

Naphtha can be recognized as a highly versatile commodity that can be derived from the shared oil. Also, you can find this commodity in refined petroleum alongside coal tar. This has a flammable nature and is a result of a colorless hydrocarbon mixture. It is volatile and also does not dissolve in water. Owing to its wide use in various industry vertices, it can be derived from the process of distillation of organic substances. The substances that are used are shale, coal, and petroleum. Naphtha is popular in use owing to its applicability in diverse fields. Some of them are the production of gasoline, cleaning the fluids, shoe polishing, alongside acting as fuel in portable stoves. The diverse nature and uses help the market to thrive for catering to the demand of a larger audience spread on a global scale. 

Competitive Landscape: 

The report aims to draw a competitive graph based on the attempts of the Key Market Players spread across various locations of the world. The report discusses the strategies of the players that will help in understanding the potential in the market and their revenue cycles. The global players functioning as a part of the Naphtha Market are as follows: 

• 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)

COVID 19 Analysis: 

The Naphtha Market has its functions and requirement spread across various industry verticles. But the pandemic has brought a hard time for the production and manufacturing units. During the restrictions like lockdowns of a permanent and temporary kind alongside functional restraints, the global market has been stagnant. Also, there is a lack of investment to meet the demand related to the raw material used for production. Also, the unavailability of labor is creating the lack of manpower to cater to the global market demand and the result of the same is a disrupted supply chain mechanism. As the lockdown restrictions are being eased, the market is regaining the demand that will help to curb the losses that have been witnessed by the market during the ongoing global forecast period of 2022-2030. 

To regain the Naphtha Market demand, the governments of various regions across the globe are opting for regulations and schemes that will help the market. Also, the governments are investing in the research and development departments in collaboration with the key market players that will help the market develop cost-effective techniques and meet the demand smoothly for the ongoing period that ends in 2030.

Market Dynamics: 

Drivers: 

The Significant Naphtha Market Growth as expected for the market during the forecast period of 2022-2030 is a result of major driving factors. The consumption of naphtha as a major feedstock ingredient especially in the petrochemicals industry has a promising future. Also, the application of the same across various market vertices to cater to the production level and global demand have a major role to play in enhancing the market functioning for the ongoing forecast period. 

Restraints: 

Crude oil is a major component of the Global Naphtha Market. The volatility that exists in the price at which crude oil can be procured is witnessing a major restraint for the market on the growth path during the ongoing forecast period that ends in 2030.

Technology Analysis: 

The naphtha cracking process makes use of ingredients like aromatics, alongside olefins. Aromatics are used for the production of edible fats that have a high demand and usage. Some of them are rubber and oil, and some personal care products. All these factors and their vibrant demand have a promising future for the Naphtha Market during the forecast period that is 2022-2030. Olefins are one of the primary ingredients for the production of chemical intermediates, synthetic rubber, alongside polymers to cater to the market demand for the forecast period between 2022-2030. 

Study Objectives: 

• To consider the viewpoints and suggestions laid down by the key market players that will help in predicting the rate of growth for the market and its valuation by the end of the forecast period


• To have an idea about the market dynamics like the drivers that will enhance the market growth and the restraints that the market needs to overcome to rise as per the predictions


• To understand the Naphtha Market segmentations, their distribution, and functioning across 3 major geographies of the world


• To study the competition that is prevailing in the market and to draw a similar graph based on the strategies for growth put forward by the prominent and key players of the Naphtha Market


• To analyze the strategies for innovation and creation to enhance the demand for the target audience by product development and launch and also consider the market’s recent developments on a global scale

Segment Overview: 

The Naphtha Market Trends are mushrooming across various locations of the world. To cater to the vibrant demand of the market audience, the market performs in different segments. Also, while having an idea about the segments will help the investors understand the revenue scale and take market investment decisions accordingly. The global market segmentation functioning currently, is as follows: 

Type: 

Based on the Type Segment of the Naphtha Market, the market includes both light and heavy naphtha available across the globe. 

Application: 

The Naphtha Market functions with the applications like chemicals, fuels, and energy, amongst others that are being put to use across the production, manufacturing, and management sectors across several industry vertices. 

Naphtha Market Share, by Application, 2017 (%):

Process: 

The processes that are a part of the Global Naphtha Market are gasoline blending, steam cracking, alongside naphtha reforming amongst the others taken up by various production units. 

Regions: 

The Naphtha Market is functional in 5 major geographies of the world are the North American countries, European nations, Latin America, the APAC region, and the Middle East and African continent. 

Regional Analysis: 

The historic trends of 2017 showed good growth for the Naphtha Market in the APAC region and owing to the prevalence of similar trends, this region is expected to record the highest CAGR growth of the market by the end of the ongoing forecast period in 2023. The main reason for this splendid growth in the region is due to the major expansion of the chemicals industry in the region. During the assessment period, it is expected that the technological advancements in the APAC region will be increasing. Also, the wide and advanced use of furnace materials will play a major role in facilitating the Global Naphtha Market Growth. The region expecting the second-largest growth in North America owing to the rising consumption of gasoline in the region. Also, the demand for naphtha has grown many folds in the fuel market functioning in the North American region during the forecast period ending in 2023.

Recent Developments: 

June 2021-Axens joined forces with Sulzer Chemtech’s GTC Technology business, a renowned licensor of petrochemical processes, to license an innovative technique for FCC naphtha processing. The joint offering will be based on Axens owned Prime-G+ hydrodesulfurization technology as well as Sulzer Chemtech’s advanced GT-BTX PluS extraction technology.

May 2021-A renowned Japanese developer of petrochemicals, Mitsui Chemicals has entered a deal to purchase bio-naphtha from Neste, a Finnish biofuels manufacturer and Toyota Tsusho, a Japanese trading house, to accelerate its aim to meet with its 2050 decarbonisation goal. Mitsui is planning to blend bio-naphtha with traditional naphtha to produce different products.
Mitsui Chemicals along with Toyota Tsusho also plans to secure the International Sustainability and Carbon Certification for their product lines developed using bio-naphtha.

The countries that are a part of the APAC region like India, China, and Thailand are emerging as major consumers for gasoline, and energy across various industries that are functioning in these regions. The industry players are thus, making sure to make the best use of the lucrative opportunities related to the capacity expansion of the production sector of the players in these countries.

Naphtha is one of the major developments of the Middle East and African continent and hence, it is emerging as the hub for countries that function high on the production of oil and gas. There are many prominent players present in this region that are investing their money and time towards the revival of the automotive in this region.

The Latin American players are upgrading their oil refinery capacities that are likely to bear good return on investment and growth results for the Global Naphtha Market by the end of the forecast period in 2023.

The US market players are going high on the expansion of the Naphtha Market by investing in the development of processes to meet the demand on a global scale and help the region emerge as a dominant force during the assessment period that ends in 2023. 

Report Overview: 

The report helps in understanding the Naphtha Market functions and the impact which the pandemic has brought in the same. Through the report, the market leaders and experts can present their point of view which helps the investors make reliable and good investment decisions. The report discusses the Naphtha Market dynamics and the segments in which the market functions in various regions across the globe. Also, the report covers the recent developments undertaken by the market players.

Report Scope:

Report Attribute/Metric	Details
Market Size	2030: Significant value
CAGR	3.60% (2022–2030)
Base Year	2021
Forecast Period	2022-2030
Historical Data	2019 & 2020
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Type, Process, Application and Region
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	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)
Key Market Opportunities	The application of the same across various market vertices to cater to the production level and global demand have a major role
Key Market Drivers	The consumption of naphtha as a major feedstock ingredient especially in the petrochemicals industry has a promising future.

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