Naphtha is a petroleum solvent obtained from the condensation of natural gas, crude oil and distillation of petroleum products, Coal and others.
It is flammable and volatile hydrocarbon distilled mixture and is used as a diluter for heavy oils, cleaning purpose and as a paint thinner.
Few regions produce Naphtha from refined oils such as kerosene to make less dense fluids and octane gases of high quality.
The scope of OG Analysis report is to present the Naphtha market based on segmentation by Light and Heavy types, by Chemical, Energy & Fuel applications and region wise.
South and Central America
The Qualitative and Quantitative Naphtha Market value is estimated to report a year-on-year increase of 3.41% during 2019 over 2018. Estimated global market value is 549.6 Billion U.S Dollars. The demand for increased production of Naphtha is mainly contributed by developing countries as a result of population thickening.
Asia-Pacific and Africa are expected to propel the Naphtha Market growth in the years to come as a result of growing Chemical industries in these regions.
North America credibly contributes to the growth of Naphtha Market because of increased oil and gas consumption and production of scented products like Benzene, Toluene, and Xylenes.
The Naphtha Market owes to significant growth by Petrochemicals, Oil and Gas industries as Naphtha is an essential fuel for gas and oil blend stock and as a feedstock for steam cracking to produce petrochemicals products like ethylene and propylene.
Naphtha is used as a thinner and fast drying chemical in oil-based paints, different enamels and varnishes and as such majorly contributes to the demand of Naphtha Market. Click Here to Request Sample
Indian Oil Corporation
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