DUBLIN, June 1, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Naphtha Market 2016-2020" report to their offering.
The global naphtha market to grow at a CAGR of 4.5% during the period 2016-2020
Global Naphtha Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend that is expected to have a positive impact on the market is the spotlight on Asian economies. The significant developments in the naphtha market are expected to come from the APAC, which is home to some key rising economies like China and India. It also houses some key naphtha consumers, such as South Korea, Taiwan, and Japan that have based a significant portion of their infrastructure growth on naphtha.
According to the report, a key growth driver is the rise in demand for petrochemicals. Plastics in the 21st century are seen as the building blocks for building the national infrastructure of a country. They are used everywhere in all the aspects of life. One of the strongest drivers for the naphtha market is the huge demand that the developing economies have for petrochemicals, primarily ethylene and propylene for production of plastics.
Further, the report states that a major challenge that could hamper market growth is the high volatility of crude oil prices.
- Shell Chemicals
- Saudi Basic Industries Corporation (SABIC)
- Mangalore Refinery and Petrochemicals Limited
- OAO Novatek
- DOW Chemicals
Other prominent vendors
- Indian Oil Corporation
- Lotte Chemical Corporation
- Mitsubishi Chemical
For more information visit http://www.researchandmarkets.com/research/zqct6z/global_naphtha
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-naphtha-market-2016-2020---rise-in-demand-for-petrochemicals--high-volatility-of-crude-oil-prices--spotlight-on-asian-economies---research-and-markets-300278066.html
SOURCE Research and Markets