Naphtha Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global naphtha market size reached US$ 159.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 192.7 Billion by 2028, exhibiting a growth rate (CAGR) of 3.3% during 2023-2028.
Naphtha is a highly versatile, colorless, flammable, and extremely volatile hydrocarbon mixture with a gasoline odor. It is obtained from the distillation process of organic substances, including coal tar, petroleum, wood, and shale. It is insoluble in water and incompatible with strong oxidizers and finds applications in producing industrial solvents, cleaning fluids and fuel for portable stoves and lanterns. It is also utilized in gasoline blending, fire juggling, and dry-cleaning solvents. Besides this, naphtha is used as a feedstock chemical in the manufacturing of propylene, benzene, xylene, ethylene, and butadiene.
Naphtha Market Trends:
At present, olefin-rich naphtha is widely used as a feedstock for economic high-octane fuel production. This, coupled with continuous growth in the petrochemical industry and the increasing adoption of naphtha for manufacturing aromatics and olefins, represents one of the key factors creating a positive outlook for the market. Rising construction, renovation, and remodeling activities in residential and commercial spaces are also catalyzing the demand for paints and cleaning agents formulated with naphtha. Additionally, the easy availability of products formulated with naphtha across online distribution channels is currently supporting the growth of the market. Apart from this, the increasing use of food-grade naphtha for coatings and films and as defoaming agents in food packaging solutions is offering lucrative growth opportunities to manufacturers. Furthermore, the incorporation of various processes to remove impurities from naphtha is strengthening the market growth. Moreover, the advent of technologies, such as the development of hydro-pyrolysis, which saves energy and decreases production costs, is leading to the introduction of advanced furnace materials. Additionally, the expanding use of naphtha in the rubber industry for dampening tread stocks to obtain better road adhesion is propelling the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global naphtha market report, along with forecasts at the global and regional levels from 2023-2028. Our report has categorized the market based on application.
Breakup by Application:
Petrochemical Feedstock
Gasoline Blending
Others
Petrochemical feedstock dominates the market as naphtha finds extensive applications in cleaning agents, paints, and varnishes. It is also used for manufacturing aromatics, benzene, butadiene, ethylene, toluene, and propylene.
Regional Insights:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America
The Asia Pacific exhibits a clear dominance in the market due to the expansion of the construction, automotive, and plastic industries in the region. In addition, the increasing production of polymers in different countries across the region is impelling the growth of the market.
Competitive Landscape:
The competitive landscape of the global naphtha market has also been analyzed with some of the leading players being:
BP plc
Chevron Corporation
Exxon Mobil Corporation
Lotte Chemical Corporation
Mangalore Refinery and Petrochemicals Limited
OAO Novatek
Saudi Basic Industries Corporation (SABIC)
Shell International B.V.
Sinopec Group
Total S.A.
Vitol SA
Mitsubishi Chemical
Reliance Industries Limited
Indian Oil Corporation
This report provides a deep insight into the global naphtha market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the naphtha market in any manner.
Key Questions Answered in This Report:
How has the global naphtha market performed so far and how will it perform in the coming years?
What are the key regions in the global naphtha market?
What has been the impact of COVID-19 on the global naphtha market?
What are the major application segments in the global naphtha market?
What are the various stages in the value chain of the global naphtha market?
What are the key driving factors and challenges in the global naphtha market?
What is the structure of the global naphtha market and who are the key players?
What is the degree of competition in the global naphtha market?
How is naphtha manufactured?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Properties
- 4.3 Key Industry Trends
- 5 Global Naphtha Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Application
- 5.5 Market Breakup by Region
- 5.6 Market Forecast
- 5.7 SWOT Analysis
- 5.7.1 Overview
- 5.7.2 Strengths
- 5.7.3 Weaknesses
- 5.7.4 Opportunities
- 5.7.5 Threats
- 5.8 Value Chain Analysis
- 5.8.1 Overview
- 5.8.2 Research and Development
- 5.8.3 Raw Material Procurement
- 5.8.4 Manufacturing
- 5.8.5 Marketing
- 5.8.6 Distribution
- 5.8.7 End-Use
- 5.9 Porters Five Forces Analysis
- 5.9.1 Overview
- 5.9.2 Bargaining Power of Buyers
- 5.9.3 Bargaining Power of Suppliers
- 5.9.4 Degree of Competition
- 5.9.5 Threat of New Entrants
- 5.9.6 Threat of Substitutes
- 6 Market Breakup by Application
- 6.1 Petrochemical Feedstock
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Gasoline Blending
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Others
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 7 Market Breakup by Region
- 7.1 Asia Pacific
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 North America
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Europe
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Middle East and Africa
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Latin America
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 8 Naphtha Manufacturing Process
- 8.1 Product Overview
- 8.2 Raw Material Requirements
- 8.3 Manufacturing Process
- 8.4 Key Success and Risk Factors
- 9 Competitive Landscape
- 9.1 Market Structure
- 9.2 Key Players
- 9.3 Profiles of Key Players
- 9.3.1 BP plc
- 9.3.1.1 Company Overview
- 9.3.1.2 Description
- 9.3.1.3 Product Portfolio
- 9.3.1.4 Financials
- 9.3.1.5 SWOT Analysis
- 9.3.2 Chevron Corporation
- 9.3.2.1 Company Overview
- 9.3.2.2 Description
- 9.3.2.3 Product Portfolio
- 9.3.2.4 Financials
- 9.3.2.5 SWOT Analysis
- 9.3.3 Exxon Mobil Corporation
- 9.3.3.1 Company Overview
- 9.3.3.2 Description
- 9.3.3.3 Product Portfolio
- 9.3.3.4 Financials
- 9.3.3.5 SWOT Analysis
- 9.3.4 Lotte Chemical Corporation
- 9.3.4.1 Company Overview
- 9.3.4.2 Description
- 9.3.4.3 Product Portfolio
- 9.3.4.4 Financials
- 9.3.4.5 SWOT Analysis
- 9.3.5 Mangalore Refinery and Petrochemicals Limited
- 9.3.5.1 Company Overview
- 9.3.5.2 Description
- 9.3.5.3 Product Portfolio
- 9.3.5.4 Financials
- 9.3.5.5 SWOT Analysis
- 9.3.6 OAO Novatek
- 9.3.6.1 Company Overview
- 9.3.6.2 Description
- 9.3.6.3 Product Portfolio
- 9.3.6.4 Financials
- 9.3.6.5 SWOT Analysis
- 9.3.7 Saudi Basic Industries Corporation (SABIC)
- 9.3.7.1 Company Overview
- 9.3.7.2 Description
- 9.3.7.3 Product Portfolio
- 9.3.7.4 Financials
- 9.3.7.5 SWOT Analysis
- 9.3.8 Shell International B.V.
- 9.3.8.1 Company Overview
- 9.3.8.2 Description
- 9.3.8.3 Product Portfolio
- 9.3.8.4 Financials
- 9.3.8.5 SWOT Analysis
- 9.3.9 Sinopec Group
- 9.3.9.1 Company Overview
- 9.3.9.2 Description
- 9.3.9.3 Product Portfolio
- 9.3.9.4 Financials
- 9.3.9.5 SWOT Analysis
- 9.3.10 Total S.A.
- 9.3.10.1 Company Overview
- 9.3.10.2 Description
- 9.3.10.3 Product Portfolio
- 9.3.10.4 Financials
- 9.3.10.5 SWOT Analysis
- 9.3.11 Vitol SA
- 9.3.11.1 Company Overview
- 9.3.11.2 Description
- 9.3.11.3 Product Portfolio
- 9.3.11.4 Financials
- 9.3.11.5 SWOT Analysis
- 9.3.12 Mitsubishi Chemical
- 9.3.12.1 Company Overview
- 9.3.12.2 Description
- 9.3.12.3 Product Portfolio
- 9.3.12.4 Financials
- 9.3.12.5 SWOT Analysis
- 9.3.13 Reliance Industries Limited
- 9.3.13.1 Company Overview
- 9.3.13.2 Description
- 9.3.13.3 Product Portfolio
- 9.3.13.4 Financials
- 9.3.13.5 SWOT Analysis
- 9.3.14 Indian Oil Corporation
- 9.3.14.1 Company Overview
- 9.3.14.2 Description
- 9.3.14.3 Product Portfolio
- 9.3.14.4 Financials
- 9.3.14.5 SWOT Analysis
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