Naphtha Market to Grow at 4.5% CAGR Driven by Petrochemicals Demand and APAC to 2020

PUNE, India, June 2, 2016 /PRNewswire/ --

Significant developments in the naphtha market are expected to come from the APAC, which is home to some key rising economies like China and India while it also houses some key naphtha consumers, such as South Korea, Taiwan, and Japan that have based a significant portion of their infrastructure growth on naphtha.

Complete report on naphtha market spread across 78 pages, analyzing 10 major companies and providing 35 data exhibits now available at http://www.sandlerresearch.org/global-naphtha-market-2016-2020.html.

The analysts forecast global naphtha market to grow at a CAGR of 4.5% during the period 2016-2020. According to the 2016 report, a key growth driver for naphtha market is the rise in demand for petrochemicals. Plastics in the 21st century are seen as the building blocks for building the national infrastructure of a country. They are used everywhere in all the aspects of life. One of the strongest drivers for the naphtha market is the huge demand that the developing economies have for petrochemicals, primarily ethylene and propylene for production of plastics.

The naphtha market is primarily driven by the upsurge in the demand for gasoline across the globe. The need for naphtha, which is important in the blending of gasoline, is increasing rapidly due to the increase in demand for transportation and subsequently, gasoline. In 2015, the gasoline segment dominated the naphtha market globally by occupying around 51% of the overall market share. Its role as a gasoline blending component due its properties that are very close to gasoline is the key factor for the growth of this segment.

The following companies are the key players in the global naphtha market: Shell Chemicals, BP, Chevron, BASF, Dow Chemicals, ExxonMobil, Saudi Basic Industries Corporation (SABIC), Mangalore Refinery and Petrochemicals Limited, OAO Novatek, and Sinopec. Other Prominent Vendors in the market are: Indian Oil Corporation, Lotte Chemical Corporation, Mitsubishi Chemical, Sasol, and Vitol. Order a copy of Global Naphtha Market 2016-2020 report @ http://www.sandlerresearch.org/purchase?rname=55362.

The availability of abundant supplies of gas at virtually no cost had put the petrochemical industry at a distinct cost advantage with most naphtha being exported. The ongoing shift of the Middle East from a gas surplus state to that of shortage in the coming years is expected to reflect positively on the market. This shift is prompting petrochemical producers to move towards a shift in the technology based on naphtha by making changes to the basic operating fundamentals that were employed over the last decade

Global Naphtha Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global naphtha market for 2016-2020.

Naphtha is a hydrocarbon intermediate that is generally produced during the refining of crude oil in the atmospheric distillation unit (ADU/CDU) of a refinery, which is also the primary source. Additionally, naphtha is also produced from the distillation of coal tar, bitumen, and oil sands. However, the quantities produced through these processes can be considered minuscule compared to the previous process.

Further, the naphtha market report states that a major challenge that could hamper market growth is the high volatility of crude oil prices.

Another related report is Global Transformer Oil Market 2015-2019, the analysts forecast the global transformer oil market to grow at a CAGR of 9.19% over the period 2015-2019. Manufacturers of transformer oil are developing bio-based transformer oil with attributes such as high dielectric constant, high flash point, and low pour point. This development should increase the total global consumption of transformer oil over the forecast period. Browse complete report @ http://www.sandlerresearch.org/global-transformer-oil-market-2015-2019.html .

Explore other new reports on Energy & Power Market @ http://www.sandlerresearch.org/market-research/energy-power .

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