SAN FRANCISCO, October 21, 2015 /PRNewswire/ —
The global naphtha market is expected to reach USD 183.38 billion by 2022, according to a new report by Grand View Research, Inc. Growth of petrochemical industry particularly in Asia Pacific and Middle East is expected to remain a key driving factor for global naphtha market. Naphtha finds application as a feedstock in catalytic reforming for manufacturing aromatics and high octane gasoline. Shale gas boom in North America has softened ethane prices which has had a negative impact on naphtha demand. Rising R&D expenditure to develop alternative technologies such as hydro-pyrolysis and catalytic cracking of naphtha is expected to lower manufacturing cost and provide new avenues to manufacturers.
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Browse full research report with TOC on “Naphtha Market Analysis By Application (Chemical, Energy & Fuel) And Segment Forecasts To 2022“ at: http://www.grandviewresearch.com/industry-analysis/naphtha-market
Chemicals were the leading application segment and accounted for over 65% of total market volume in 2014. Growing petrochemical derivatives demand from key end-use industries such as packaging, transportation and construction is expected to drive this segment over the forecast period. The application segment is also expected to witness the highest growth of 7.7% in terms of value over the forecast period.
Further key findings from the report suggest:
Grand View Research has segmented the naphtha market on the basis of application and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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