Asia-Pacific Naphtha Consumption to Cross 464 Million Metric Ton by 2026
Surging
gasoline consumption across the region coupled with rising demand for naphtha
based petrochemicals in countries to fuel Asia-Pacific naphtha consumption
through 2026
According to TechSci Research report “Asia-Pacific Naphtha Demand Supply Analysis, By End Use, By Region, Forecast
& Opportunities, 2011 – 2026”, Asia-Pacific
naphtha consumption is projected to cross 464 million metric tons by 2026.
Asia-Pacific is expected to emerge as the largest consumer for naphtha across
the globe. Major demand for naphtha in the region emanates from Japan, South
Korea, China, India and Singapore, which accounted for a volume share of more
than 70% in Asia-Pacific naphtha consumption in 2016. Japan and South Korea
heavily rely on naphtha imports to run their petrochemical industry while China
and India have domestic naphtha production to fuel their petrochemical
industry.
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market data Tables and 54 Figures spread through 83
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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, to growing automobile market and rising
demand for gasoline in developing countries is also expected to drive the
Asia-Pacific naphtha demand.
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“Apart from increasing gasoline
demand from countries within the region, rising demand for naphtha can also be
attributed to surging demand for naphtha based petrochemicals such as aromatic
petrochemical products (benzene, toluene and xylene). These aromatic products
form building blocks for many products that are used in day to day life. This
is anticipated to boost naphtha consumption across the region in the coming
years”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Asia-Pacific Naphtha Demand Supply Analysis, By End
Use, By Region, Forecast & Opportunities, 2011 – 2026” has evaluated the Asia-Pacific
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 for Asia-Pacific naphtha market.
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