Global Naphtha Market Report and Forecast 2023-2028
Market Report I 2023-09-05 I 148 Pages I EMR Inc.
Global Naphtha Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global naphtha market reached a value of nearly USD 161.4 billion in 2022. Aided by the rising demand for petrochemical feedstocks and the pivotal role of naphtha in various sectors, the market is projected to further grow at a CAGR of 4.20% between 2023 and 2028 to reach a value of USD 205.9 billion by 2028.
Naphtha, a flammable hydrocarbon mixture, is extracted during petroleum refining. This colourless to reddish-brown liquid is a crucial component for the production of gasoline and serves as a primary feedstock in the petrochemical industry, particularly in the production of ethylene and propylene. Its diverse range of applications doesn't end there; it's also employed in cleaning and thinning products that require a solvent.
The global naphtha market growth can be attributed to several catalysts. For one, the petrochemical industry's insatiable appetite for naphtha remains a core driver. As urbanisation spreads and economies flourish, there's an escalated demand for plastics and other petrochemical products, which invariably pushes naphtha demand upwards.
Also, naphtha is gaining prominence in power plants and industrial operations, especially in regions where natural gas prices are steep or its supply is erratic. When juxtaposed against other heavy fuels, naphtha offers benefits like reduced emissions, making it an appealing alternative.
Another compelling factor bolstering the naphtha market demand is its resurgence in the gasoline blending pool. With the automotive sector expanding and modern engines requiring cleaner fuels, refineries are increasingly gravitating towards naphtha-rich gasoline blends. This trend is particularly prevalent in Asia and parts of Europe.
Moreover, the technological advancements in the petrochemical sphere are leading to more efficient naphtha cracking processes. Innovations in catalysts and process technologies are amplifying yield and reducing environmental footprints, thus enhancing naphtha's appeal.
Furthermore, burgeoning regions, especially in Asia Pacific, accounts for a significant portion of the naphtha market share. Rapid industrialisation across emerging economies such as India and China, coupled with expansive refinery capacities in countries like China and India are providing a substantial thrust to the global market for naphtha.
Market Segmentation
The market can be divided based on type, end use, and region.
Market Breakup by Type
- Light
- Heavy
Market Breakup by End Use
- Petrochemicals
- Agriculture
- Paints and Coatings
- Aerospace
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global naphtha market. Some of the major players explored in the report by Expert Market Research are as follows:
- Shell Corporation
- Chevron Phillips Chemical Company LLC
- Exxon Mobil Corporation
- Mitsubishi Chemical Corporation
- Saudi Basic Industries Corporation
- Vitol Group
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Naphtha Market Analysis
8.1 Key Industry Highlights
8.2 Global Naphtha Historical Market (2018-2022)
8.3 Global Naphtha Market Forecast (2023-2028)
8.4 Global Naphtha Market by Type
8.4.1 Light
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Heavy
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.5 Global Naphtha Market by End Use
8.5.1 Petrochemicals
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Agriculture
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Paints and Coatings
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Aerospace
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Naphtha Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America Naphtha Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Naphtha Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Naphtha Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Naphtha Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Naphtha Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Shell Corporation
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Chevron Phillips Chemical Company LLC
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Exxon Mobil Corporation
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Mitsubishi Chemical Corporation
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Saudi Basic Industries Corporation
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Vitol Group
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Others
18 Key Trends and Developments in the Market
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