Global Naphtha Market
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Naphtha Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2027, at CAGR of XX% during forecast period of 2019 to 2027.
Naphtha is colorless, flammable, and a volatile hydrocarbon usually isolated from the petroleum refineries through fractional distillation of crude oil or boiling coal tar. Naphtha is generally used as a solvent for dilute heavy crude oil to decrease its viscosity.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Naphtha Market Drivers and Restrains
The Naphtha Market has witnessed considerable growth in recent years because its use in jet fuel and about XX% of the naphtha produced is used in the petrochemical industry. The new naphtha demand of around XX Megaton forthcoming from the new cracker and reformer is largely countered by the demand loss of around XX Megaton due to the cracker shutdown. The Naphtha Market has become more competitive and price-sensitive because of the high potential, steady growth and abundant availability of cheaper alternatives such as shale gas and LPG of the naphtha market. Manufacturers in the naphtha are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological revolutions are also the key application areas of the manufacturers.
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