According to ChemAnalyst report, “India Naphtha Market: Plant Capacity, Production, Operating Efficiency, Technology, Process, Demand & Supply, Type, Application, End Use, Distribution Channel, Region, Competition, Trade, Market Analysis, 2015-2030", Naphtha demand in India stood at 20 million tonnes in 2019 and is projected to grow at a CAGR of 6.25% in the forecast period. Government of India’s “Hydrocarbons Vision – 2025” aimed at expanding indigenous production of petroleum products and reducing import bill by 2025 is likely to support the Naphtha market growth in the forecast period.
Naphtha is used as a feedstock to produce a vast variety of petrochemicals such as Ethylene, Propylene, Styrene, Butadiene etc. which find varied applications in industries like rubber, plastics, solvents, and many others. Increasing penetration of Naphtha across several value chains further catalyzed by increasing interest of the state-owned refiners to gain from the synergies between refineries and the petrochemicals is expected to give a tremendous boost to the Naphtha demand during the forecast period.

Read Full Report Here: https://www.chemanalyst.com/industry-report/india-naphtha-market-88

Sudden outbreak of Coronavirus has caused Naphtha to witness an oversupply situation further heightened by trade disruptions due to demand destruction amid nationwide lockdown imposed to contain the spread of the virus. Demand for oil products largely remained hard hit throughout the Q4 FY20 and Q1 FY21, due to lesser fuel consumption while travel restrictions remained despite relaxations in lockdown.
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