DUBLIN--(BUSINESS WIRE)--The "Naphtha Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The market for Naphtha is anticipated to register a CAGR of 4.5% during the forecast period 2019-2024.
Major factors driving the market studied are the growing demand for fertilizer in India. Natural gas liquid demand in the United States is expected to hinder the growth of the market studied.
- Rising demand for jet fuel is expected to act as an opportunity for the growth of the market in the future.
- With the growing demand for naphtha coming from fast-developing countries such as China, India, and Japan, the Asia-Pacific region is expected to dominate the global market.
Key Market Trends
Growing Demand from Petrochemical Industry
- Naphtha is used in various industries as light naphtha and heavy naphtha. Naphtha is majorly used in the petrochemical industry as feedstock. Around 50% of the naphtha produced is being used in the petrochemical industry.
- Consumption and production of naphtha are majorly growing in developing countries such as India, China, etc.
- The Demand of naphtha in India is majorly driven by the increasing demand from the petrochemical industry as a feedstock to produce petrochemical components such as olefins, aromatics, etc.
- Hence, such aforementioned factors are likely to increase the demand for naphtha for various application in the end-user industries. This, in turn, is expected to drive the demand for naphtha during the forecast period.
Asia-Pacific to Dominate the Global Market
- Asia-Pacific region dominated the global market share in 2018. With the growing demand for naphtha and growing petrochemical industries in the countries such as China, India, and Japan the usage of naphtha is increasing in the region.
- Applications in industries such as agriculture, aviation, etc. as a fertilizer and jet fuel are also increasing in countries such as India, Japan, and China, etc.
- The growth trend of the naphtha market is likely to remain the same in the next few years, which is further likely to drive the growth of the naphtha market in the Asia Pacific region.
- Moreover, the Asia-Pacific region is also expected to witness the highest CAGR in the naphtha market during the forecast period.
The Naphtha market is partially consolidated. In terms of market share, few numbers of players currently dominate the market. Key players in the naphtha market include Reliance Industries Limited, Exxon Mobil Corporation, China Petroleum & Chemical Corporation, Formosa Petrochemical Co, LG Chem, and Petrleos Mexicanos etc.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Petrochemical Dominating in Asia-Pacific
4.1.2 Rising Demand of Fertilizer in India
4.2.1 Natural Gas Liquid Demand in United States
4.3 Industry Value-Chain Analysis
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products & Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 By Types
5.1.1 Light Naphtha
5.1.2 Heavy Naphtha
5.2 By End-user Industry
5.2.3 Paints & Coatings
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.2 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle East & Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AMOC (Alexandria Mineral Oils Co.)
6.4.2 British Petroleum (BP PLC)
6.4.3 Chevron Phillips Chemical Company
6.4.4 China Petroleum & Chemical Corporation
6.4.5 Exxon Mobil Corporation
6.4.6 Formosa Petrochemical co.
6.4.7 LG Chem
6.4.9 Petroleos Mexicanos
6.4.10 Reliance Industries Limited
6.4.11 Royal Dutch Shell PLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Demand of Jet Fuel
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