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Global Naphtha Market: By Type: Light, Heavy; By End-User Industries: Petrochemical, Agriculture, Paints and Coatings, Aerospace, Others; By Region: North America, Europe, Asia Pacific, LATAM, Middle East and Africa; Historical Supply and Demand (2014-2018); Supply and Demand Forecast (2019-2024); SWOT Analysis; Value Chain Analysis; Porter’s Five Forces Analysis; Regional Naphtha Price Analysis; Manufacturing Process; Cost Analysis; Competitive Landscape & Supplier Analysis; Events and Developments

Global Naphtha Market Key Insights:

  • Types: Light and Heavy Naphtha
  • Global Naphtha Market Overview
  • Global Naphtha Market Performance & Price Trends 2018
  • Global Naphtha Market Analysis & Outlook 2019-2024
  • Breakup by Region
  • Value Chain Analysis
  • Manufacturing Process
  • Project Details & Costs Involved
  • Competitive Landscape


Market Outlook

The global naphtha market attained a value of nearly USD 147.8 billion in 2018. It is expected to grow at a CAGR of around 2.9% in the forecast period of 2019-2024 and is projected to reach USD 175.45 billion by 2024. The rising demand for plastic products is spurring the demand for polyethylene and polypropylene which, in turn, is boosting the consumption of naphtha.

In the Asia Pacific, China holds around a fifth of the global share followed by South Korea in the global naphtha market. The production rate of the product in China grew annually by 9% during 2012-2016. It is also a significant consumer and importer of the product. Despite the ongoing trade war with the US, consumption of naphtha in China has been growing at a healthy pace. In October 2018, the country imported 516, 985 tonnes of the substance, a robust growth of 11% as compared to October 2017.

The total production of heavy naphtha is twice as large in volumes as the production of light variety. However, light naphtha is a heavily traded commodity. The production of light naphtha is widely spread in three regions - North America, Northeast Asia, and the Middle East – which account for nearly 60% of the total global production. Its output is increasing globally and is expected to create a surplus stock in the coming years, exceeding the market demand for the product. The fast-expanding tight oil and shale gas output in North America, particularly the US, will contribute to the projected surplus supply and capacity expansions. The North America region might soon overtake the Middle East and Africa as the leading exporter of light naphtha. The global consumption of the substance, on the other hand, is anticipated to witness a continuous rise at a moderate annual rate of around 2% in the next ten years.

Properties and Applications

Naphtha refers to a group of flammable and volatile mixtures of liquid hydrocarbons. It is colourless, insoluble in water and incompatible with strong oxidisers. It is obtained by the distillation of various organic substances like coal tar, wood, petroleum, and shale. It is known by several names such as petroleum or wood naphtha, white gas, ligroin, etc., depending on its source, use, and composition.

Based on the hydrocarbon structure and refinery process, there are two compositions of naphtha – light (paraffinic) and heavy naphtha. Light naphtha is commonly used in petrochemical steam crackers whereas heavy naphtha plays a vital role in refinery catalytic reformers to improve fuel performance.

Some of its major end-use sectors include petrochemical, agriculture, paints and coatings, and aerospace, among others. It is primarily used as a feedstock for manufacturing high-octane gasoline component through the process of catalytic reforming. Moreover, it finds application in the chemical and petrochemical industries for manufacturing solvents and olefins in steam crackers, respectively.

Market Analysis

The global naphtha market is being fuelled by the growing consumption of the product in diverse industries like construction, transportation, and plastic. The growing demand for gasoline is fostering the growth of the industry as the olefin-rich material is used for blending gasoline-grade fuel. In addition, the increasing demand for petrochemicals, like propylene and ethylene for the production of plastics, is driving the global naphtha market. Further, the advent of alternative technologies like hydro-pyrolysis of the product saves energy and helps in reducing the production cost. This, coupled with the development of advanced furnace materials and distillation column, is creating a positive outlook for the global naphtha market.

The Asia Pacific represents the leading naphtha market owing to the increasing sales of vehicles in the region. The growing consumption of plastics in the automotive and construction sectors is also contributing to the global naphtha market growth. Further, geographical advantages and high consolidation of oil refineries in the Middle East offer ample opportunities to the energy and chemical sectors in the region. Whereas, stringent regulatory scenario in North America along with the declining production of petroleum products may hinder the growth of the industry. Besides this, the petrochemical industry in North America, particularly in the United States, is preferring low-cost alternatives like LPG which is expected to deter the growth.

Competitive Landscape

The report examines the following major players in the global naphtha market including their capacity, market share, and latest developments like plant turnarounds, capacity expansions, and mergers and acquisitions:

  • Shell
  • Chevron Phillips Chemical Company 
  • Exxon Mobil Corporation
  • Mitsubishi Chemical Corporation
  • Indian Oil Corporation Ltd
  • Vitol
  • Reliance Industries Limited
  • Others

EMR’s comprehensive report covers the value chain analysis, and assesses the global naphtha market based on Porter’s five forces model. It also provides a SWOT analysis.

1    Preface
2    Research Methodology
3    Executive Summary

    3.1    Market Overview
    3.2    Key Demand Drivers
    3.3    Key Players
    3.4    Supply Market Changes
4    Global Naphtha Market Outlook
5    Global Naphtha Market
    5.1    Global Naphtha Market Analysis

        5.1.1    Figure: Global Naphtha Historical Market (2014-2018) & Forecast (2019-2024)
        5.1.2    Chart: Global Naphtha Market Breakup by Type 
        5.1.3     Figure: Global Naphtha Market Breakup by Type: Historical Market (2014-2018) & Forecast (2019-2024)
        5.1.4    Chart: Global Naphtha Market Breakup by End User Industries
      Paints and Coatings
        5.1.5    Figure: Global Naphtha Market Breakup by End User Industries: Historical Market (2014-2018) & Forecast (2019-2024)
      Paints and Coatings
        5.1.6    Chart: Global Naphtha Market Breakup by Region
      North America
      Asia Pacific
      Middle East and Africa
        5.1.7    Figure: Global Naphtha Market Breakup by Region: Historical Market (2014-2018) & Forecast (2019-2024)
      North America
      Asia Pacific
      Middle East and Africa
    5.2    SWOT Analysis
        5.2.1    Overview
        5.2.2    Strengths
        5.2.3    Weaknesses
        5.2.4    Opportunities
        5.2.5    Threats
    5.3    Value Chain Analysis
    5.4    Porter’s Five Forces Analysis

        5.4.1    Overview
        5.4.2    Buyer’s Power
        5.4.3    Supplier’s Power
        5.4.4    New Entrants
        5.4.5    Degree of Rivalry
        5.4.6    Substitutes
    5.5    Regional Naphtha Price Analysis
        5.5.1    North America Naphtha Historical Price Trends (2014-2018) & Forecast (2019-2024)
        5.5.2    Europe Naphtha Historical Price Trends (2014-2018) & Forecast (2019-2024)
        5.5.3    Asia Pacific Naphtha Historical Price Trends (2014-2018) & Forecast (2019-2024)
        5.5.4    LATAM Naphtha Historical Price Trends (2014-2018) & Forecast (2019-2024)
        5.5.5    Middle East and Africa Naphtha Historical Price Trends (2014-2018) & Forecast (2019-2024)
6    Manufacturing Process
    6.1     Detailed Process Flow
    6.2     Operations Involved
    6.3     Mass Balance
7    Cost Analysis
    7.1    Land, Location and Site Development
    7.2    Construction
    7.3    Plant Machinery
    7.4    Cost of Raw Material
    7.5    Packaging
    7.6    Transportation
    7.7    Utilities
    7.8    Manpower
    7.9    Other Capital Investment
8    Competitive Landscape & Supplier Analysis
    8.1    Shell
    8.2    Chevron Phillips Chemical Company
    8.3    Exxon Mobil Corporation
    8.4    Mitsubishi Chemical Corporation
    8.5    SABIC
    8.6    LOTTE Chemical CORPORATION
    8.7    Indian Oil Corporation Ltd
    8.8    Vitol
    8.9    Reliance Industries Limited
    8.10    Others
9    Events and Developments


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