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Naphtha Market Size, Share, Price Trends, Industry Analysis and Research Report 2020-2025

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Naphtha Market Size, Share, Price Trends, Industry Analysis and Research Report 2020-2025

October 15
17:48 2020
Naphtha Market Size, Share, Price Trends, Industry Analysis and Research Report 2020-2025

The global naphtha market is driven by technological advancements like hydro-pyrolysis and catalytic cracking of naphtha that offer improved energy efficiency.
The global naphtha market is driven by technological advancements like hydro-pyrolysis and catalytic cracking of naphtha that offer improved energy efficiency.

According to the recent report by IMARC Group, titled “Naphtha Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global naphtha market size reached around US$ 151.7 Billion in 2019. Naphtha is a volatile, colorless and highly flammable liquid compound that is stored in closed bottles in a cool and well-ventilated area. It is obtained through the dry distillation of organic substances such as shale, coal tar, and crude oil. It represents the second lightest product among all the refinery yields and is generally obtained in the first distillation process after liquified petroleum gas (LPG). Depending on its source or composition, naphtha is known by several names like white gas, petroleum spirits, shellite, and ligroin. There are two types of naphtha depending on their structure and refinery process ­¾ light and heavy naphtha. They are utilized in the manufacturing of gasoline, petrochemical steam crackers, paints, cleaning fluids, and fuel for portable stoves.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Request to get the sample report: https://www.imarcgroup.com/naphtha-market/requestsample

Global Naphtha Market Trends:

In the petrochemical industry, naphtha is widely used to dilute heavy oils, clean metal from pipelines and manufacture high-octane gas. Along with this, it is also utilized in the production of olefins and aromatics like ethylene, propylene, benzene, and toluene. As there is a high demand for cost-effective olefin-rich fuels due to the growing population and rapid urbanization, it is driving the consumption of naphtha across the globe. Furthermore, technological developments have led to the production of advanced furnace materials and technologies like catalytic cracking and hydro-pyrolysis of naphtha. These energy-efficient processes have increased the usage of naphtha as a feedstock in various sectors. On account of these factors, the market is expected to experience moderate growth during the forecast period (2020-2025).

Market Summary:

On the basis of the application, the market has been categorized into petrochemical feedstock, gasoline blending, and others. Among these, petrochemical feedstock is the biggest application segment, accounting for the majority of the market share.

Region-wise, the market has been classified into Latin America, Asia Pacific, Europe, North America, and Middle East and Africa. Currently, Asia Pacific represents the leading segment, holding the biggest market share.

The competitive landscape of the market has been analyzed in the report, with some of the key players being Chevron Corporation, ExxonMobil Corporation, Indian Oil Corporation Limited, BP PLC, Lotte Chemical Corporation, Mangalore Refinery and Petrochemicals Limited, Mitsubishi Chemical Corporation, Sinopec, Total S.A., OAO Novatek, Reliance Industries Limited, SABIC, Shell Chemicals, and Vitol Netherlands Coöperatief U.A.

View Report TOC, Figures and Tables: https://www.imarcgroup.com/naphtha-market

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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