How big is the Naphtha Market | Growth, Size & Industry Insight 2031

How big is the Naphtha Market?

The market growth is driven by surging demand for petrochemicals, rising transportation fuel consumption, and increased refinery capacities across developing economies.

Key Growth Drivers of the Naphtha Market

• Escalating demand for olefins (ethylene and propylene) in the plastics and polymers industries
• Growing use of naphtha as a feedstock in steam cracking and reforming processes
• Rising energy needs and transportation fuel consumption in emerging markets
• Expanding chemical manufacturing activities globally
• Refinery capacity expansions and integration of petrochemical complexes

Naphtha Market Trends

The Naphtha Market is witnessing a shift towards light naphtha for petrochemical feedstock due to its high hydrogen-to-carbon ratio. An uprising use of naphtha crackers is on the rise in Asia-pacific, especially in China and India. The use of technology in catalytic cracking (and shale gas extraction) has affected the competitive price of naphtha. It is also characterised by the trend of the flexibility of feedstocks that is observed in contemporary refineries and petrochemical plants.

Emerging Developments in the Naphtha Market

Bio-naphtha is emerging as viable options in Europe and North America because of the sustainability regulations in these regions. Key players are turning to process optimisation and emission minimisation technologies. Refiners and petrochemical companies are increasingly forming strategic alliances in order to have an integrated operation and maintain constant feedstock supply. Refineries are also adopting digital twin and AI-based refinery management systems to enhance the yield and the economics of the refinery.

List of Leading Companies in the Naphtha Market

Below is a comprehensive list of the leading market players driving growth in this sector:

1.ExxonMobil Corporation

Major global supplier of light and heavy naphtha used in petrochemical and gasoline blending.

2.Royal Dutch Shell plc

Offers a broad range of refined petroleum products including naphtha for feedstock and fuel.

3.Chevron Corporation

Supplies naphtha products to petrochemical industries globally with integrated refinery operations.

4.Indian Oil Corporation Ltd. (IOCL)

India’s leading naphtha producer and exporter, primarily serving fertilizer and petrochemical sectors.

5.Reliance Industries Limited

Operates one of the world’s largest refineries and is a key exporter of naphtha from India.

6.Saudi Aramco

Produces and exports large volumes of naphtha for petrochemical and industrial uses globally.

7.BP plc

Engaged in refining and trading of naphtha for use in gasoline blending and ethylene production.

8.TotalEnergies SE

Key global player in the naphtha market, serving European and Asian petrochemical industries.

9.Lotte Chemical Corporation

Operates naphtha cracking centres for downstream production of plastics and resins.

10.ENI S.p.A.

Provides naphtha for fuel and petrochemical markets, with sustainable sourcing initiatives.

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