Market research analysts estimate the global naphtha market to grow a CAGR of almost 5% between 2016 and 2020. The market is primarily driven by the upsurge in the demand for gasoline across the globe. The need for naphtha, which is important in the blending of gasoline, is increasing rapidly due to the increase in demand for transportation and subsequently, gasoline. Currently, the APAC region dominates the global naphtha market by accounting for a market share of around 61%. The rise in demand for petrochemicals, especially plastics, in rising economies such as India, China, and Korea is projected to boost growth in the market in this region by 2020.

The new market research report presents a breakdown and analysis of naphtha segments by application.

“Previously, the availability of abundant supplies of gas at virtually no cost had put the petrochemical industry at a distinct cost advantage with most naphtha being exported. The ongoing shift of the Middle East from a gas surplus state to that of shortage in the coming years is expected to reflect positively on the market. This shift is prompting petrochemical producers to move towards a shift in the technology based on naphtha by making changes to the basic operating fundamentals that were employed over the last decade,” according to the report.

To Get more information visit @ http://www.bigmarketresearch.com/global-naphtha-2016-2020-market

In 2015, the gasoline segment dominated the naphtha market globally by occupying around 51% of the overall market share. It’s role as a gasoline blending component due its properties that are very close to gasoline is the key factor for the growth of this segment. The gasoline segment is expected to continue its dominance over the forecast period due to the increasing demand for plastics, especially in APAC.

The key vendors in the global naphtha market include BP, Dow Chemicals, Chevron, ExxonMobil, OAO Novatek, Total, SABIC, Shell Chemicals, MRPL, and Sinopec. The market primarily comprises those companies that have crude refining capacity. It is primarily dominated by the integrated oil and gas companies, who have complete control over the entire supply chain. This helps them to manipulate the demand-supply dynamics of naphtha as per their profit interests. Moreover, as the entire market share is controlled by big oil companies or chemical companies, the entry of new players will be minimal in the market during the forecast period.

To Enquiry about report visit @ http://www.bigmarketresearch.com/report-enquiry/571652