Naphtha Market To Reach $245.82 Billion By 2030 | CAGR: 4.4%

Naphtha Market Growth & Trends

The global naphtha market size is expected to reach USD 245.82 billion by 2030, and projected to grow at a CAGR of 4.4% from 2025 to 2030, according to a new report by Grand View Research, Inc. Increasing global demand for transportation fuel is expected to drive growth. Demand is also being driven by its robust use for hydrocarbon cracking process in the petrochemical industry.

Naphtha is an essential part of hydrocarbon cracking process, which is conducted under extreme pressure and heat, as it exhibits superior heat resistant properties. Various environmental regulations and region dependent pricing also make the choice for usage of naphtha materials in the production process.The global demand is estimated to be worth USD 254.3 billion by 2030.

Chemical feedstock was the largest application of naphtha accounting for 69.93% of the total market share in 2023 and is anticipated to grow at a CAGR of 4.5% over the forecast period. Chemical feedstock is used for steam cracking process which produces gasoline. Growing demand for gasoline is expected to subsequently bolster demand. Lighter grades of the product are used for petrochemical steaming process, which produces rubber, olefins, polymers and aromatics.

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Naphtha Market Report Highlights

• Light naphtha dominated the global naphtha market with the largest revenue share of 61.4% in 2024. Light naphtha is highly sought after in the petrochemical industry due to its high paraffin content, used to produce plastics and chemical compounds.

• Chemicals led the market and accounted for the largest revenue share of 68.0% in 2024. Naphtha is primarily used to produce gas, ethylene, and propylene.

• Asia Pacific naphtha market dominated the global market with the largest revenue share of 43.5% in 2024.

Naphtha Market Segmentation

Grand View Research has segmented the global naphtha market on the basis of product type, application, and region:

Naphtha Product Type Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• Light Naphtha

• Heavy Naphtha

Naphtha Application Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• Chemicals

• Energy/Fuel

• Others

Naphtha Regional Outlook (Volume, Million Metric Tons; Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players of Naphtha Market

• Reliance Industries Limited

• Exxon Mobil Corporation

• Saudi Arabian Oil Co.

• LG Chem

• Formosa Petrochemical Corporation

• Shell plc

• Indian Oil Corporation Ltd

• Asahi Kasei Corporation

• Petróleos Mexicanos

• JFE Chemical Corporation