Petroleum Naphtha Market Scope
The Petroleum Naphtha is a flammable liquid hydrocarbon mixture, where the Naphtha produced from natural gas condensates, petroleum distillates and the distillation of peat and coal tar. Petroleum Naphtha market is expected to mark significant growth over forecasted period owing to increasing demand of gasoline and high speed technological development such as enhanced distillation process and use of advanced furnace materials. There has been significant rise in number barrels of petroleum products such as gasoline, diesel fuel, jet fuel, unfinished oils, and other liquids with figure stood up to 17.7 million barrels in United States alone in 2018, the future for petroleum Naphtha looks promising. This result in rising invest in high-quality refinery for demand of petroleum and escalating the research and development in organic chocolate may trigger demand and help in industry expansion.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Largest Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Shell Chemicals (The Netherlands), Total S.A. (France), Sinopec (China), BP (United Kingdom), ADNOC (United Arab Emirates), ARAMCO (Saudi Arabia), PEMEX (Mexico), Mangalore Refinery and Petrochemicals Limited (India), Kuwait Petroleum Corporation (Kuwait), Hindustan Petroleum Corporation Limited (India) and ONGC (India) |
CAGR | 3.2% |
According to AMA, the Global Petroleum Naphtha market is expected to see growth rate of 3.2%
Research Analyst at AMA estimates that Indians Manufacturers will contribute to the maximum growth of Global Petroleum Naphtha market throughout the predicted period.
Shell Chemicals (The Netherlands), Total S.A. (France), Sinopec (China), BP (United Kingdom), ADNOC (United Arab Emirates), ARAMCO (Saudi Arabia), PEMEX (Mexico), Mangalore Refinery and Petrochemicals Limited (India), Kuwait Petroleum Corporation (Kuwait), Hindustan Petroleum Corporation Limited (India) and ONGC (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Vitol (Switzerland), Mitsubishi Chemical (Japan), Reliance Industries Limited (India) and Indian Oil Corporation (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Petroleum Naphtha market by Type (Heavy Naphtha and Light Naphtha), by Application (Petrochemical Feedstock, Gasoline Blending, Cleaning Fluids, Shoe Polish, Fuel for portable stoves and Others) and Region with country level break-up.
On the basis of geography, the market of Petroleum Naphtha has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In May 2019, Isramco signed a merger agreement with Naphtha Group. This merger is beneficial in expansion of its business portfolio in U.S. region and its product line several end user industries.
In February 2019, IOCL begins naphtha, diesel, jet fuel exports from paradip refinery which is beneficial in providing petroleum products such as BS-IV quality, kerosene, aviation turbine fuel, propylene, sulphur, and petroleum coke.
Market Trend
- Increase in demand for hydrocarbon cracking process.
Market Drivers
- Increase in demand of petroleum Naphtha in petroleum and refinery industries that boost the Market.
- Rapid industrialization and urbanization leads to Fuelled up The petroleum naphtha Market.
Opportunities
- Strong distribution network leads to grow the organic chocolate Market.
- Upsurge Demand of petroleum naphtha for manufacturing plastics and synthetic fibers precursor.
Restraints
- Petroleum Naphtha is Toxic in nature that hampers the Market.
- Safety precautions associated with petroleum naphtha as its volatile in room temperature.
Challenges
- Limitation on the overuse of petroleum naphtha that anticipated the Challenge the Market.
- Fluctuation of Raw Materials is anticipated to Challenge the Market.
Key Target Audience
Petroleum Naphtha Manufacturers, Petroleum Naphtha Traders, End-Use Market Participants of Different Segments of Petroleum Naphtha, Government and Research Organizations, R&D Institutions and Others