Naphtha Consumption to Cross 960 MMT by 2026
Surging gasoline consumption across
the globe coupled with rising demand for naphtha based petrochemicals in
developing countries to fuel global naphtha consumption through 2026
According to TechSci Research report “Global Naphtha Demand Supply Analysis, By End Use, By Region,
Forecast & Opportunities, 2011 – 2026”, global naphtha consumption is projected to cross 960 million
metric tons by 2026, on account of oversupply of naphtha, low prices of naphtha,
and increasing demand for ethylene, propylene and aromatics petrochemical
products. According to IEA, 11.5 million barrels/day of oil are used in
petrochemicals production, of which around 90% (50% naphtha & 40% LPG) is
used as a feedstock and remaining for thermal energy generation. Moreover, naphtha
is primarily used for gasoline blending and increasing demand for gasoline is
anticipated to fuel demand for naphtha across the globe. Naphtha is the best
suitable blending component for gasoline, as it significantly improves octane
number of the fuel. Gasoline blending dominated naphtha consumption in 2016. Rising
demand for gasoline across the globe is anticipated to boost naphtha
consumption for gasoline blending in the coming years. According to BP
Statistical, global gasoline consumption stood at 95.01 million barrels/day in
2015, registering an increase of 2% over the previous year.
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spread through 310 Pages and an in-depth TOC on "Global Naphtha Demand Supply Analysis"
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Asia-Pacific dominated global naphtha
consumption and the region is forecast to continue to be the largest consumer
of naphtha across the globe through 2026. Developing countries such as China,
India and Indonesia along with developed countries such as Japan and South
Korea are heavily dependent on imported naphtha for use as feedstock in the petrochemical
industry. Further, North America accounted for the second largest share in
naphtha consumption across the globe, due to growing automobile market and
rising demand for gasoline in the United States. On account of growing demand
for gasoline in the United States, a large amount of naphtha would be consumed
by refineries in the country to address the growing demand for gasoline.
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“Apart from increasing gasoline demand in
developed and developing countries across the globe, rising global demand for
naphtha can also be attributed to surging demand for naphtha based petrochemicals
such as aromatic petrochemical products (benzene, toluene and xylene), in
developing countries. These aromatic products form building blocks for many
products that are used in day to day life. Moreover, major
demand for naphtha is being generated from Asia-Pacific and Middle East &
Africa regions, owing to presence of numerous traditional naphtha based
crackers in these regions. This is anticipated to boost naphtha consumption across the
globe in the coming years”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Naphtha
Demand Supply Analysis, By End Use, By Region, Forecast & Opportunities,
2011 – 2026” has evaluated the global naphtha market and provides the
statistics and information on market structure, industry behavior and trends.
The report includes market projections and demand forecasting. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and analyzes
emerging trends along with strategic recommendations for global naphtha market.
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