India Development News & Foreign Investment Opportunities

Naphtha demand to grow at 6.18% CAGR

Petchem to drive demand

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Petchem to drive demand

Nayara Energy.

The demand for naphtha in India is projected to grow at a CAGR of 6.18% during 2019-2030 to reach 37,158 thousand tonnes by 2030.

It was t 17,908 thousand tonnes in 2018, according to a ResearchAndMarkets report “India Naphtha Comprehensive Techno-Commercial Market Analysis and Forecast, 2013-2030” released 17 May 2019.

Demand expected from petrochemicals, mainly ethylene and propylene for the production of plastics coupled with increasing use of naphtha in the refining industry which uses it as a raw material for the processes of steam cracking, naphtha reforming and gasoline blending.

Naphtha is a major raw material used for the production of gasoline, which is widely used in the automotive industry.

Naphtha is used to dilute heavy oil to make high-octane gas and lighter fluid, as well as to clean metal.

Moreover, rising use of primarily produced chemicals from naphtha such as ethylene, styrene, and butadiene in rubber, plastics, and solvents production is expected to boost the demand for naphtha in the country during 2013-2030.

Some of the major players operating in the country’s naphtha market are Bharat Petroleum Corporation Limited, Gail (India) Limited, Indian oil Corporation Limited, Hindustan Petroleum Corporation Limited, Nayara Energy, Oil and Natural Gas Corporation Limited, Reliance Industries Limited, etc. fiinews.com

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