The new report by Expert Market Research titled, ‘Global Naphtha Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global naphtha market size, assessing the market based on its segments like types, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 4.20%
Naphtha Industry Definition and Major Segments
Naphtha, also known as wooden naphtha, is defined as chemical compound, which is highly volatile in nature and is chiefly used as a solvent in the conversion process for the production of gasoline. It is a flammable compound which is procured by distilling petroleum. It is colourless and is insoluble. Read Full Report with Table of Contents@ https://www.expertmarketresearch.com/reports/naphtha-market On the basis of type, the market can be segmented into:- Light
- Heavy
- Petrochemicals
- Agriculture
- Paints and Coatings
- Aerospace
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Naphtha Market Trends
The key trends in the naphtha market include the technological advancements in the aerospace and automotive industry, which is generating a significant demand for the compound. Naphtha is used in the production of rubber, hence, the anticipated increase in demand for rubber from the industrial sector is likely to be another key trend in the market. Moreover, the increasing production capacity of petroleum across the developing economies owing to the increasing demand for fuel is another key trend in the market. However, the growing availability of cheaper alternatives to naphtha, such liquified petroleum gas (LPG), may impede the market growth.Key Market Players
The major players in the market are:- Shell Corporation
- Chevron Phillips Chemical Company LLC
- Exxon Mobil Corporation
- Mitsubishi Chemical Corporation
- Saudi Basic Industries Corporation
- Vitol Group
- Others