Naphtha Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Type, Sales Channel, Regional Demand, Company Share, Manufacturing Process, 2015-2035

H1 2023: The major players in the global Naphtha market in H1 2023 were Exxon Mobil Corporation, Reliance Industries Limited, Indian Oil Corporation Limited, and Phillips 66 Company. In March 2023, S-Oil Corp, a South Korean company, announced its plan to integrate a large-scale petrochemical complex with the Shaheen refinery. This collaboration involves a Naphtha-fed steam cracker capable of producing 1800 thousand tonnes per annum of ethylene. The petrochemical complex, which would produce up to 3200 thousand tonnes per annum of core petrochemical feedstocks such as Ethylene, Propylene, Butadiene, and Benzene from Naphtha. The site is expected to be operational by 2026. As the main feedstock for this project, the facility will raise Naphtha demand in South Korea. The budget of the projects is USD 7 billion (KRW 9.26 trillion) The complex will also include a TC2C facility that converts crude oil directly into petrochemical feedstocks such as LPG and Naphtha, a polymer factory that produces high-value petrochemical feedstocks for plastics and other synthetic resins, and other structures. The new TC2C facility will improve Naphtha supply in the South Korean market. Based on demand, Asia Pacific region was in lead. The Naphtha market was bullish in first three months of 2023, because to robust market fundamentals. Despite falling upstream crude oil prices in China, high demand for Naphtha by the downstream steam cracking process drove the Naphtha prices. Meanwhile, the price rise was aided by a decline in supplies the exporting countries due to high import costs as a result of the global increase in crude oil prices. However, The Asian market saw a bearish trend for naphtha starting from April 2023. It was due to cheap imports from Russia to East Asia. Sluggish demand from the downstream gasoline blending and petrochemical industries combined with high inflation rates had a significant influence on naphtha market in Asia.

 

The global Naphtha market stood around 190 million tonnes in 2022 and is expected to grow at a steady CAGR of 4.15% during the forecast period until 2035. The Assiut oil refinery in Egypt was under an extension and modernization to meet the increasing demand for petroleum products in Upper Egypt.  The cost of the refinery improvement is $2.5 billion. This expansion included a new naphtha complex along with other complexes with date of completion in the end of 2022. 

 

Naphtha is a mixture of hydrocarbon molecules that consists of between 5 and 10 carbon atoms. It is a volatile, colorless, and flammable liquid that does not dissolve in water. It is usually produced from natural gas condensates, petroleum distillates, and the distillation of coal tar and peat. One of the major sources of Naphtha is crude oil which is widely used as a precursor to gasoline, butane, and other liquid fuels. 

 

The industrial Type of Naphtha includes it as a raw material to produce plastics like polyethylene and polypropylene. It is extensively used as solvents for paints, dry-cleaning, cutback asphalts, rubbers, industrial extraction processes, and others. Naphtha has the ability to burn cleanly, which makes it an ideal chemical to use in heating units, power stoves, blowtorches, and cigarette lighters. In the Naphtha cracking process, ingredients like aromatics and olefins are used. Among these, aromatics are highly used in the production of edible fats whereas, olefins are used for making chemical intermediates, synthetic rubbers, plastics, etc., rising demand for aromatics and olefins by the food & beverage and chemical industry is expected to drive the market in the next few years. Naphtha is one of the most important feedstock chemicals in the petrochemical industry as it is used in the production of benzene, ethylene, butadiene, toluene, propylene, and xylene, which are further used to make products like synthetic fiber, synthetic resins, synthetic rubber, dyes, medicine, and others. Throughout the projection period, the petrochemical industry is anticipated to exhibit significant increase in the demand of Naphtha and reach nearly 320 million tonnes in the forecast period of 2035.

 

Based on region, Asia Pacific is the leading consumer of Naphtha all across the globe. In 2022, the highest demand was accounted by Asia Pacific region with a market share of about 60%. The region is anticipated to maintain its dominance over the other regions in the forecast period. Its usage in upstream sectors such as Crude blending and Steam cracking is anticipated to propel the demand in countries like India, China, and Japan in the upcoming years. The major producers of Naphtha are located in the North American region. Moreover, Exxon Mobil Corporation is the largest producer of Naphtha on the global level. 

 

Based on type, the global Naphtha market is divided into Light Naphtha and Heavy Naphtha. The Light Naphtha is dominating the market. Light naphtha is used as a petrochemical feedstock in steam crackers to create ethylene, which is then used to manufacture plastics. 

 

Based on the end-user industry, the global Naphtha market is segmented into Gasoline Blending, Steam Cracking, Naphtha Reforming, and Others. Among these, Gasoline Blending is dominating as a consumer, with a market share of more than 62% of the total demand in 2022. Moreover, it is expected that the Naphtha Reforming industry will experience a surge in the forecast period. Due to rapid urbanization and industrialization in emerging as well as industrialized economies, the demand for cost-effective fuel is increasing, which is likely to accelerate the demand for Naphtha, further propelling the market in upcoming years.

 

Significant players in the production of Global Naphtha market are Exxon Mobil Corporation, Reliance Indusries Limited, Nippon Oil Corporation, Phillips 66 Company, Indian Oil Corporation Limited, Marathon Petroleum Corporation, Flint Hills Resources, Chevron Corporation, Idemitsu Kosan Co., Ltd, Nayara Energy Limited, GS Caltex Corporation, BP p.l.c., Monroe Energy LLC, and VPR Energy.

 

Years considered for this report:

 

Historical Period: 2015- 2022

Base Year: 2022

Estimated Year: 2023

Forecast Period: 2024-2035

 

This report will be delivered on an online digital platform with one-year subscription and quarterly update.

 

Objective of the Study: 

 

• To assess the demand-supply scenario of Naphtha which covers production, demand and supply of Naphtha market in the globe.

• To analyse and forecast the market size of Naphtha  

• To classify and forecast Global Naphtha market based on end-use and regional distribution.

• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Naphtha market in the globe.

 

To extract data for Global Naphtha market, primary research surveys were conducted with Naphtha manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Naphtha market over the coming years. 

 

ChemAnalyst calculated Naphtha demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Naphtha across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 

 

 

Key Target Audience:

 

• Naphtha manufacturers and other stakeholders

• Organizations, forums and alliances related to Naphtha distribution

• Government bodies such as regulating authorities and policy makers

• Market research organizations and consulting companies

 

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Naphtha manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

 

Report Scope:

 

In this report, Global Naphtha s market has been segmented into following categories, in addition to the industry trends which have also been detailed below: 

 

Attribute	Details
Market size Volume in 2022	190 million tonnes
Market size Volume by 2035	320 million tonnes
Growth Rate	CAGR of 4.15% from 2023 to 2035
Base year for estimation	2023
Historic Data	2015 – 2022
Forecast period	2024 – 2035
Quantitative units	Demand in million tonnes and CAGR from 2023 to 2035
Report coverage	Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Type, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process,
Segments covered	By End-Use: (Gasoline Blending, Steam Cracking, Naphtha Reforming, and others) By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope	North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Available Customizations:

 

With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.

 

In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com

Table of Content

 

1. Industry Market Size 

It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Naphtha market in terms of value and volume.

 

2. Capacity By Company 

On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Naphtha.

 

3. Capacity By Location 

To better understand the regional supply of Naphtha by analyzing its manufacturers' location-based capacity.

 

4. Plant Operating Efficiency

To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.

  

5. Production By Company [Quarterly Update]

Study the historical annual production of Naphtha by the leading players and forecast how it will grow in the coming years.

 

6. Demand by Type 

Learn about the various types: Light Naphtha and Heavy Naphtha, and their demands. It will allow you to choose which type to concentrate on when designing your strategy.

 

7. Demand by End- Use [Quarterly Update]

Discover which end-user industry (Gasoline Blending, Steam Cracking, Naphtha Reforming, and others) are creating a market and the forecast for the growth of the Naphtha market. 

 

8. Demand by Region

Analyzing the change in demand of Naphtha in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand. 

 

9. Demand by Sales Channel (Direct and Indirect)

Multiple channels are used to sell Naphtha. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.

 

10. Demand-Supply Gap

Determine the supply-demand gap to gain information about the trade surplus or deficiency of Naphtha.

 

11. Company Share

Figure out what proportion of the market share of Naphtha is currently held by leading players across the globe. 

 

12. Country-wise Export

Get details about quantity of Naphtha exported by major countries. 

 

13. Country-wise Import

Get details about quantity of Naphtha imported by major countries.

 

14. Manufacturing Process

Discover insights into the intricate manufacturing process of Naphtha.