DUBLIN, Ireland, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Naphtha Market Size, Share, Growth Analysis Report By Type (Light Naphtha and Heavy Naphtha), By Application (Chemicals, Energy & Fuel and Others), By Process (Gasoline Blending, Naphtha Reforming, Steam Cracking and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Naphtha Market size & share was valued at approximately USD 248.5 billion in 2021. The market is expected to grow above a CAGR of 4.90% and is anticipated to reach over USD 331.1 billion by 2028.”
The report analyses the Naphtha market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Naphtha market.
What is Naphtha? How big is the Naphtha Industry?
- Market Overview:
Naphtha is a type of unrefined gasoline or gasoline made from raw ingredients and crude oil for usage in the chemical industry. The boiling point of naphtha, which is made from crude oil, lies between 30 and 200 °C. It might have a sizable amount of aromatic compounds in it. Naphtha is a highly volatile, colorless, and very flexible hydrocarbon compound. It is produced by distilling organic substances like wood, coal tar, petroleum, and shale.
Naphtha goes by various names, depending on where it comes from or what it is made of, including petroleum spirits, coal tar naphtha, shellite, wood naphtha, and white gas. As part of their commitment to the environment, major oil companies in the naphtha market have announced the beginning of clean fuel and aromatics initiatives. Some of the applications of naphtha include producing gasoline, cleaning fluids, polishing shoes, and providing fuel for portable stoves.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 227+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Industry Major Players, Historical and Forecast Growth, Porter's 5 Forces Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Key Insights from Primary Research
- As per the analysis, the Naphtha market is likely to grow above a CAGR of around 4.90% between 2022 and 2028.
- The Naphtha market size was worth around US$ 248.5 billion in 2021 and is estimated to hit approximately US$ 331.1 billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Naphtha is frequently used due to its vast range of applications. Some of them are gasoline manufacturing, shoe polishing, fluid cleaning, and functioning as fuel in portable stoves.
- By type, the light naphtha category dominated the market in 2021.
- By application, the chemicals category dominated the market in 2021.
- The Asia Pacific dominated the global naphtha market in 2021.
Market Growth Drivers
- Rising demand for olefin-rich naphtha to drive market growth
Naphtha derivative called olefin-rich naphtha is largely used as a feedstock to manufacture inexpensive high-octane diesel. Due to a rise in the number of people and the rapid urbanization of areas, naphtha consumption has surged in both industrialized and developing nations. Petroleum naphtha is also frequently utilized as a solvent. It can be found in many different cleaning agents. Additionally, it is used to thin out asphalt, paint, and varnish.
Additionally, naphtha is employed in the dry cleaning sector. This raises the need for naphtha and is expected to fuel the market's growth. Modern technology has improved distillation processes and led to the development of novel furnace materials. The growth of the chemical sector is driving up naphtha usage. Additionally, the growth of emerging new markets and strategic partnerships will operate as market drivers, boosting the likelihood that the market will grow at a rate that can be used.
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Naphtha Market: COVID-19 Impact Analysis
The functions and needs of the naphtha market are spread across numerous industry verticals. However, production and manufacturing facilities have been impeded by the pandemic. Under limitations like lockdowns (both permanent and temporary) and functional impediments, the worldwide market has remained static. In addition, not enough money is being invested to meet the demand for the raw materials used in manufacturing.
In addition, the lack of workers to meet the demand of the global market is disrupting the supply chain mechanism. The market is regaining demand as the lockdown restrictions are being eased, which would help reduce the market's losses.
Competitive Players
The report contains qualitative and quantitative research on the global naphtha Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Naphtha market include;
- Chevron Corporation
- SABIC
- BP PLC
- Reliance Industries Limited
- Shell Chemicals
- Exxon Mobil Corporation
- China Petrochemical Corporation
- Indian Oil Corporation Ltd
- Novatek
Browse the full “Naphtha Market Size, Share, Growth Analysis Report - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/naphtha-market
Naphtha Market: Segmentation Analysis
The global naphtha market is segregated based on type, application, process, and region.
Based on type, light and heavy naphtha are segments of the global naphtha market. In 2021, the light naphtha category dominated the market over the forecast period. Based on application, the market is classified into chemicals, energy, fuel, and others. The chemicals segment dominated the market in 2021. The global naphtha market is segmented based on the process: gasoline blending, naphtha reforming, steam cracking, and others. In 2021, the steam cracking category dominated the market over the forecast period.
Regional Dominance:
The global naphtha market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2021, the Asia Pacific region led the global naphtha market. Due to growth in numerous end-user industries, including paints & coatings, petrochemicals, and fertilizers, naphtha demand has been gradually rising in countries like India, China, and Japan. Over the next five years, China plans to build many chemical factories, undoubtedly raising the demand for naphtha.
The Asia-Pacific region dominates the naphtha market due to technological developments such as enhanced distillation methods and chemical advances. The broad and sophisticated usage of furnace materials will also significantly contribute to expanding the global naphtha market.
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Recent Industry Developments:
- May 2021: To speed up its efforts to fulfill its 2050 decarbonization target, Mitsui Chemicals, a prominent Japanese petrochemicals developer, has agreed to buy bio-naphtha from Neste, a Finnish biofuels producer, and Toyota Tsusho, a Japanese trading firm. Mitsui intends to combine bio-naphtha with conventional naphtha to create various products. For their product lines created utilizing bio-naphtha, Mitsui Chemicals and Toyota Tsusho also intend to obtain international sustainability and carbon certification.
- July 2019: Ships were used to transport naphtha from Russia to the Venezuelan business PDV LLC. To meet the country's need for gasoline, some 330,000 t of naphtha was exported.
Key questions answered in this report:
- What is the market size and growth rate forecast for Naphtha industry?
- What are the main driving factors propelling the Naphtha Market forward?
- What are the leading companies in the Naphtha Industry?
- What segments does the Naphtha Market cover?
- How can I receive a free copy of the Naphtha Market sample report and company profiles?
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 248.5 Billion |
| Projected Market Size in 2028 | USD 331.1 Billion |
| CAGR Growth Rate | 4.90% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Corporation, SABIC, BP PLC, Reliance Industries Limited, Shell Chemicals, Exxon Mobil Corporation, China Petrochemical Corporation, Indian Oil Corporation Ltd, Novatek, and Others |
| Key Segment | By Type, Application, Process, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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The global naphtha market is segmented as follows:
By Type
- Light Naphtha
- Heavy Naphtha
By Application
- Chemicals
- Energy And Fuel
- Others
By Process
- Gasoline Blending
- Naphtha Reforming
- Steam Cracking
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Type, Application, Process, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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