Global Naphtha Market to Reach US$ 222.1 Billion by 2032, Propelled by Rising Demand for Lighter Feedstocks

August 24, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Naphtha Market Report by Application (Petrochemical Feedstock, Gasoline Blending, and Others), and Region 2024-2032,” the global naphtha market size reached US$ 170.6 Billion in 2023. Naphtha is a petrochemical feedstock that is widely utilized in various industries due to its versatile properties. It is a flammable liquid hydrocarbon mixture that comprises lighter hydrocarbons. It is obtained from the refining process of crude oil and can produce various chemicals, such as ethylene and propylene. It has low sulfur content and cleaner combustion properties as compared to other petrochemical feedstock. As it is utilized in fire juggling and dry-cleaning solvents, the demand for naphtha is rising across the globe.

Global Naphtha Market Trends:

At present, the increasing adoption of gasoline as a solvent in various applications represents one of the major factors impelling the growth of the market. In line with this, the rising utilization of plastics, synthetic rubber, and fibers in everyday products around the world is bolstering the growth of the market. Besides this, the growing demand for lighter feedstocks in steam crackers for petrochemical production is offering a positive market outlook. Moreover, the increasing preference for sustainable chemical feedstock is offering lucrative growth opportunities to industry investors. Apart from this, the growing demand for cleaning agents, paint thinners, and varnishes in various industrial applications across the globe is positively influencing the market. In addition, the rising employment of naphtha as a fuel in some power generation applications, especially where natural gas is limited or unavailable, is propelling the growth of the market. Furthermore, the increasing development of cleaner and more efficient naphtha-based processes to reduce the environmental impact around the world is contributing to the growth of the market. Additionally, the rising production of olefins, aromatics, and other chemicals is strengthening the growth of the market. Looking forward, the market value is projected to reach US$ 222.1 Billion by 2032, expanding at a CAGR of 2.9% during 2024-2032.

Market Summary:

  • Based on the application, the market has been classified into petrochemical feedstock, gasoline blending, and others. At present, petrochemical feedstock dominates the market, accounting for the largest share.
  • Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being BP plc, Chevron Corporation, Exxon Mobil Corporation, Lotte Chemical Corporation, Mangalore Refinery and Petrochemicals Limited, OAO Novatek, Saudi Basic Industries Corporation (SABIC), Shell International B.V., Sinopec Group, Total S.A., Vitol SA, Mitsubishi Chemical, Reliance Industries Limited, and Indian Oil Corporation.
     

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units Million Tons, US$ Billion
Segment Coverage Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered BP plc, Chevron Corporation, Exxon Mobil Corporation, Lotte Chemical Corporation, Mangalore Refinery and Petrochemicals Limited, OAO Novatek, Saudi Basic Industries Corporation (SABIC), Shell International B.V., Sinopec Group, Total S.A., Vitol SA, Mitsubishi Chemical, Reliance Industries Limited, and Indian Oil Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


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.
 

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Naphtha Market to Reach US$ 222.1 Billion by 2032, Propelled by Rising Demand for Lighter Feedstocks
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More