World Naphtha Market to Reach USD 176 Bn by 2022, States IMARC Group in Its Report Now Available at MarketPublishers.com
05 Dec 2017 • by Natalie Aster
LONDON – Worldwide, the naphtha market reached over USD 144 billion by value in 2016, and it is set to witness remarkable growth in the offing. An upsurge in the consumption of naphtha as a feedstock to make petrochemicals is the key factor boosting the growth of the market. Besides this, naphtha is also used in gasoline blending. A hike in gasoline demand is further giving a boost to the market. In addition, the expanding chemical industry, particularly in APAC, is likely to drive the world naphtha market in the foreseeable future. Moreover, technological advances like improved distillation process and usage of advanced furnace materials are igniting the growth of the sector. The value of the market is anticipated to amount to USD 176 billion by end-2022, posting a CAGR of over 3% through to 2022.
Based on application, petrochemical feedstock captures the lion’s share of the overall market. Geography-wise, APAC is the leading market, with Europe and North America following after.
Indian Oil Corporation, BP P.L.C, Mitsubishi Chemical, Chevron Corporation, and Reliance Industries Limited, amid others, are the prominent market participants.
In-demand research publication “Naphtha Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022” drawn up by IMARC Group offers a comprehensive, unbiased analysis of the market performance globally, as well as speculates on the sector’s prospective evolution in the offing.
The study segments the market by application, and region-wise. It covers the industry’s performance over the past several years and speculates on the sector’s prospective evolution in the offing. The report tracks the recent industry trends, provides a SWOT analysis and Porter’s five forces analysis, explores the value chain and its various stages. The research pinpoints the main factors driving and limiting the naphtha market growth, analyses the market shares of the top players. The report examines the competitive landscape, reveals the intensity of the competition in the industry, and includes granular profiles of the 5 leading market players.
More in-demand reports by the publisher can be found at IMARC Group page.