Naphtha Market To Grow At A CAGR Of 3.4% From 2015 To 2022: Grand View Research Inc.
San Francisco, 15 April 2019: The Report Naphtha Market Analysis By Application (Chemical, Energy & Fuel) And Segment Forecasts To 2022 Global Naphtha Market size was 270.7 million tons in 2014 and is anticipated to grow at a CAGR of 3.4% from 2015 to 2022. Increasing global demand for transportation fuel is expected to drive growth. Demand is also being driven by its robust use for hydrocarbon cracking process in the petrochemical industry. Naphtha is an essential part of hydrocarbon cracking process, which is conducted under extreme pressure and heat, as it exhibits superior heat resistant properties. Various environmental regulations and region dependent pricing also make the choice for usage of naphtha materials in the production process.The global demand is estimated to be worth USD 183.38 billion by 2022. Chemical feedstock was the largest application of naphtha accounting for 65% of the total market share in 2014 and is anticipated to grow at a CAGR of 7.7%