Naphtha Market Is Expected To Reach US$ 230.9 Bn By 2030
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<strong>Naphtha</strong> <strong>Market</strong> <strong>Is</strong> <strong>Expected</strong> <strong>To</strong> <strong>Reach</strong> <strong>US$</strong> <strong>230.9</strong> <strong>Bn</strong> <strong>By</strong> <strong>2030</strong><br />
The latest market report published by Credence Research, Inc. “<strong>Naphtha</strong> <strong>Market</strong>,<br />
<strong>By</strong> Product Type and <strong>By</strong> Geography- Growth, Future Prospects and Competitive<br />
Analysis, 2016 - <strong>2030</strong>,” the global naphtha market was valued at <strong>US$</strong> 102.6 <strong>Bn</strong> in<br />
2016, and is expected to reach <strong>US$</strong> <strong>230.9</strong> <strong>Bn</strong> by <strong>2030</strong>, expanding at a CAGR of 5.97%<br />
from 2016 to <strong>2030</strong>.<br />
Browse the full <strong>Naphtha</strong> <strong>Market</strong> - Growth, Future Prospects and Competitive<br />
Analysis, 2016 – <strong>2030</strong> report<br />
at https://www.credenceresearch.com/report/naptha-market<br />
<strong>Market</strong> Insights<br />
Global naphtha market is projected to witness significant growth over the forecast<br />
period. Growing demand for naphtha as a feedstock in petrochemical industry is<br />
projected to drive the demand for naphtha over the forecast period. Increasing use<br />
of plastic products fueling the demand for the polypropylene and polyethylene<br />
which in turn is driving the demand for naphtha used as a feedstock for the<br />
production olefins and aromatics using in production of paints and coatings.<br />
Further, naphtha also finds application in blending with gasoline. Growing demand<br />
for gasoline is anticipated to augment the growth of global naphtha market.<br />
Moreover, recent technological advancement such as development of advance<br />
furnace materials, advanced distillation column and alternative technologies such<br />
as hydro- pyrolysis of naphtha and catalytic cracking of naphtha saves<br />
approximately 10% of the energy which in turn reduces the production cost. Thus,<br />
making naphtha the preferred feedstock for the end use applications. Growing<br />
chemical industry especially in Asia Pacific is projected to drive the global naphtha<br />
market during the forecast period (2016-<strong>2030</strong>). However, growing use of<br />
alternatives such as LPG for the production of propane and butane are expected to
estrain the growth of global naphtha market during the forecast period (2016-<br />
<strong>2030</strong>).<br />
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<strong>By</strong> Product type, heavy naphtha segment was the most dominant segment in 2015<br />
and anticipated to continue its dominance of over the forecast period. The segment<br />
is projected to witness stable growth during the forecast period. Light naphtha<br />
segment is expected to be the fastest growing segment during the forecast period.<br />
Growing use of light naphtha in petrochemical steam crackers is anticipated to fuel<br />
the demand over the forecast period (2016-<strong>2030</strong>).<br />
<strong>By</strong> application, chemical segment was observed to be the largest segment in 2015<br />
in global naphtha market. Increasing use of naphtha as a feedstock for the<br />
production of materials such as polyethylene and polypropylene in petrochemical<br />
industry is projected to fuel the growth of naphtha over the forecast period (2016-<br />
<strong>2030</strong>).<br />
Considering the competition, the global naphtha market is expected to witness a<br />
significant rise in investment in capacity expansion for the production and supply<br />
of naphtha. Further, market has witnessed strategic mergers and collaborations<br />
among naphtha regional and global players. Such growth strategies are focused on<br />
increasing their market penetration in key consuming economies.<br />
<strong>By</strong> Product Type<br />
<br />
<br />
Heavy <strong>Naphtha</strong><br />
Light <strong>Naphtha</strong><br />
<strong>By</strong> Application<br />
<br />
<br />
<br />
Chemical<br />
Energy/Fuels<br />
Others<br />
<strong>By</strong> Geography<br />
<br />
North America
Europe<br />
Asia Pacific<br />
Middle East & Africa (MEA)<br />
Latin America<br />
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