According to ChemAnalyst report, “India Naphtha Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, Type, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, Port-Wise Import, FY2015-FY2032”, The India Naphtha Market is likely to grow at a CAGR of 5.16% during the forecasted period by FY2032. The end-use industries of Gasoline Blending, Steam Cracking, and Naphtha Reforming are anticipated to swell the demand for Naphtha in India in the forthcoming years.
Naphtha is a volatile, colourless hydrocarbon that is typically separated from petroleum refineries by boiling coal tar or fractional distilling crude oil. In order to manufacture high-octane gas, lighter fluid, and to clean metal, naphtha is typically used to dilute heavy oil. Naphtha is a crucial Petro-based raw material used for the production of gasoline, which is predominantly used in automotive industry. Naphtha is employed to dilute heavy oil to produce high-octane gas and lighter fluid. The demand for naphtha in the nation is anticipated to increase during the forecast period due to the increased use of chemicals that are predominantly manufactured from naphtha, such as ethylene, styrene, and butadiene, which are further used for the production of rubber, plastics, and solvents. Naphtha is primarily employed as a base material for the production of high-grade gasoline through the catalytic reforming process. India’s “Hydrocarbons Vision – 2025” aimed at expanding indigenous production of petroleum products and reducing the demand-supply gap by FY2025 is likely to support the Naphtha market expansion in the forecast period.
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The India Naphtha Market is segmented based on type, end-use, sales channel, and region. Based on type, the global Naphtha market is divided into Light Naphtha and Heavy Naphtha. Heavy Naphtha is dominating the market. Light naphtha is used in steam crackers as a petrochemical feedstock to produce ethylene, which is then used to make polyethylene and other products. Light Naphtha is rich in olefins. Hence, it is the most preferred feed for steam crackers for producing a wide range of olefins /polyolefins such as ethylene, propylene, etc. Heavy Naphtha is mainly used for the production of aromatic products such as Benzene, Toluene, Xylene, etc. In addition, Heavy Naphtha is also used in gasoline reforming to increase its octane number.
Based on end-use, the India Naphtha market is segregated into Gasoline Blending, Steam Cracking, Naphtha Reforming, and Others. Among these, Gasoline Blending is dominating the segment of Naphtha. This segment held roughly 62% of the Naphtha market in FY2023. Due to the increasing demand for high-octane fuel from the transportation industry, India’s Gasoline blending is anticipated to maintain its dominance in the forthcoming years. This industry is followed by Steam Cracking applications which are expanding exponentially due to the rigorous expansion of the domestic refiners with India’s rising focus on the “Make in India” policy. Additionally, rising demand for olefins and polyolefins for making plastics used in the construction, electrical and electronics, and packaging industries, as well as increasing use of aromatics in the production of edible oils, rubber, and personal care products, will further drive the market growth in the upcoming years.
Based on region, the India Naphtha Market is segregated into North, South, East, and West. In the historic period of FY2015-FY2023, West India has been dominating the market followed by East India. is mostly due to an increase in naphtha demand in downstream industries and end-user industries including crude blending, steam cracking, motor petrol mixing, reformation to aromatics, etc.
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“India Naphtha Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, Type, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, Port-Wise Import, FY2015-FY2032” Significant players in the India Naphtha market are Hindustan Petroleum Corporation Limited, Reliance Indusries Limited, HPCL-Mittal Energy Ltd (HMEL), Bharat Petroleum Corporation Limited, Oil and Natural Gas Corporation Limited, Indian Oil Corporation Limited, Nayara Energy Limited, Gail (India) Limited, Numaligarh Refinery Limited (NRL), and Others.
“Naphtha is a volatile, colourless hydrocarbon which is used to manufacture high-octane gas, lighter fluid, and to clean metal, naphtha is typically used to dilute heavy oil. Fast-growth rate of transportation sector coupled with rise in sale of vehicles across India is creating a demand for olefin-rich Naphtha for gasoline blending purposes which is anticipated to mainly drive the India Naphtha market in the forecast period by FY2032. Furthermore, other applications of naphtha such as Steam Cracking also contributes finely to the market expansion. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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