糖心vlog传媒

logo

Naphtha Market Size (2024 - 2029)

The naphtha market is anticipated to experience growth over the forecast period, driven by increasing demand in the petrochemical industry and the fertilizer sector, particularly in India. The market's expansion is supported by the recovery from the COVID-19 pandemic, which had previously disrupted supply chains and reduced demand in sectors like construction and aerospace. Rapid industrialization and urbanization in Asia-Pacific countries, such as China, India, and Japan, are contributing to the rising need for naphtha, especially in the transportation sector. However, competition from natural gas liquids in the United States may pose challenges to market growth.

Home Market Analysis Chemicals & Materials Research Commodity Chemicals Research Basic Petrochemicals Research Naphtha Research Naphtha Industry Market Size

Market Size of Naphtha Industry

Naphtha Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Naphtha Market Major Players

*Disclaimer: Major Players sorted in no particular order

Naphtha Market Analysis

The global naphtha market is projected to register a CAGR of more than 4% during the forecast period.

The COVID-19 pandemic severely impacts the global naphtha market. The pandemic significantly affected the construction industry's growth. The lockdown imposed in response to the pandemic disrupted the construction materials supply chain. It also caused a significant shortage of workforce. Several major construction projects have been shut down for a considerable amount of time, which led to a decrease in demand for paints and coatings and their additives, thus, hindering the naphtha market growth rate. Similarly, the aerospace industry is severely affected by the COVID-19 pandemic. But, in the post-pandemic period, the opening of economies and government support to different industries led to increasing demand for naphtha and showing signs of recovery of market growth.

  • Over the medium term, the naphtha market growth is likely driven by the rising demand for naphtha as a feedstock in the petrochemical Industry. Additionally, the increasing need for fertilizers in India will likely boost the demand for naphtha.
  • The primary driver of the market studied is the rising demand for fertilizers in India. Moreover, due to rapid industrialization and urbanization in countries, like China, India, and Japan, the transportation sector is growing, stimulating the gasoline demand and driving the need for the naphtha market.
  • The demand for natural gas liquid in the United States is expected to hinder the growth of the naphtha market.
  • With the increasing demand for naphtha from fast-developing countries like China, India, and Japan, the Asia-Pacific region is expected to dominate the global market.

Naphtha Industry Segmentation

Naphtha is a light flammable liquid containing a mixture of hydrocarbon molecules, typically between 5 and 10 carbon atoms. It mainly consists of straight-chain alkanes (paraffin), but it may also have cyclohexanes (naphthenes) and aromatics. The naphtha market is segmented by type, end-user industry, and region. By type, the market is segmented into light naphtha and heavy naphtha. By end-user industry, the market is segmented into petrochemical, agriculture, paints and coatings, aerospace, and other end-user industries. The report also covers the market size and forecasts for the naphtha market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kilo metric tons).

By Type
Light Naphtha
Heavy Naptha
By End-user Industry
Petrochemical
Agriculture
Paints and Coatings
Aerospace
Other End-user Industries
By Geography
Asia Pacific
China
India
Japan
South Korea
Rest of Asia Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
Need A Different Region Or Segment?
Customize Now

Naphtha Market Size Summary

The global naphtha market is anticipated to experience steady growth over the forecast period, driven by its critical role as a feedstock in the petrochemical industry. The market's recovery post-COVID-19 is attributed to the reopening of economies and government support, which has spurred demand across various sectors. The Asia-Pacific region, particularly countries like China, India, and Japan, is expected to dominate the market due to rapid industrialization and urbanization, which are boosting the transportation sector and, consequently, gasoline demand. The increasing need for fertilizers, especially in India, further propels the market, while the demand for natural gas liquids in the United States poses a potential challenge to naphtha market growth.

Naphtha's versatility as both light and heavy naphtha makes it indispensable in numerous industries, with approximately half of its production dedicated to the petrochemical sector for manufacturing essential chemicals like benzene and ethylene. The market's expansion is supported by significant investments in infrastructure and petrochemical projects, such as those in Malaysia and the United Kingdom, which are set to enhance naphtha consumption. The market is partially consolidated, with major players like Reliance Industries, Exxon Mobil, and Saudi Aramco holding substantial shares. Despite occasional disruptions, such as maintenance shutdowns, the overall growth trajectory of the naphtha market remains positive, driven by increasing global demand and strategic industry developments.

Explore More

Naphtha Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Petrochemicals in Asia Pacific

      2. 1.1.2 Rising Demand for Fertilizers in India

    2. 1.2 Restraints

      1. 1.2.1 Natural Gas Liquid Demand in the United States

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Feedstock Analysis

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 By Type

      1. 2.1.1 Light Naphtha

      2. 2.1.2 Heavy Naptha

    2. 2.2 By End-user Industry

      1. 2.2.1 Petrochemical

      2. 2.2.2 Agriculture

      3. 2.2.3 Paints and Coatings

      4. 2.2.4 Aerospace

      5. 2.2.5 Other End-user Industries

    3. 2.3 By Geography

      1. 2.3.1 Asia Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Naphtha Market Size FAQs

The Naphtha Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Reliance Industries Limited, Exxon Mobil Corporation, Saudi Arabian Oil Co., LG Chem and Formosa Petrochemical Corporation are the major companies operating in the Naphtha Market.

Naphtha Market Report Snapshots

Naphtha Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)