The global naphtha market is expected to reach USD 183.38 billion by
2022, according to a new report by Grand View Research, Inc. Growth of
petrochemical industry particularly in Asia Pacific and Middle East is expected
to remain a key driving factor for global naphtha market. Naphtha finds
application as a feedstock in catalytic reforming for manufacturing aromatics
and high octane gasoline. Shale gas boom in North America has softened ethane
prices which has had a negative impact on naphtha demand. Rising R&D
expenditure to develop alternative technologies such as hydro-pyrolysis and
catalytic cracking of naphtha is expected to lower manufacturing cost and
provide new avenues to manufacturers.
Chemicals were the leading application segment and accounted for over 65% of
total market volume in 2014. Growing petrochemical derivatives demand from key
end-use industries such as packaging, transportation and construction is
expected to drive this segment over the forecast period. The application
segment is also expected to witness the highest growth of 7.7% in terms of
value over the forecast period.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/naphtha-market
Further key findings from the report suggest:
- Global
naphtha market demand was 270.7 million tons in 2014 and is expected grow
at a CAGR of 3.4% from 2015 to 2022
- Asia
Pacific was the leading regional market with demand share exceeding 40% of
in 2014. Growing demands for various plastic products across automotive
and construction industry particularly in India, China, Indonesia and
Vietnam is expected to drive the regional growth over the forecast period.
- Favorable
economic policies such as tax benefits and financial incentives to set up
petrochemical complexes in countries such as India and China have also
prompted naphtha demand in the region.
- North
American market is characterized by shale gas boom in the U.S. which has
had a negative impact on naphtha demand. Shifting trend towards cost
effective shale gas for producing ethane may be attributed for stagnant
industry growth over the forecast period. The U.S. plastic industry is
shifting away from naphtha, towards gases such as propane or butane to
operate plants.
- Major
companies operating in global naphtha market include Total S.A., Shell
Chemicals, British Petroleum, ExxonMobil, Chevron, SABIC, Indian Oil
Corporation, and Mitsubishi Chemical.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the naphtha market on the basis of
application and region:
Naphtha Application Outlook (Volume, Million Tons; Revenue, USD
Million, 2012 – 2022)
- Chemicals
- Energy/fuels
- Others
Naphtha Regional Outlook (Volume, Million Tons; Revenue, USD
Million, 2012 - 2022)
- North
America
- Europe
- Asia
Pacific
- RoW
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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