India Naphtha Market to Grow with a CAGR of 3.65% through 2030
Huge demand for ethylene and propylene in petrochemical
sector to produce plastics and growing automotive industry are factors driving
the India Naphtha Market in the forecast period 2026-2030.
According to TechSci Research report, “India Naphtha
Market- By Region, Competition, Forecast and Opportunities,
2019-2030”, the India Naphtha Market was valued at 24,435.34 thousand Metric
Tonnes in 2024 and is anticipated to project significant to reach 29,416.22
thousand Metric Tonnes in 2030 with a CAGR of 3.78%.
In recent years, the India Naphtha Market has
witnessed significant growth propelled by various factors contributing to its
expansion and diversification. One notable development is the increasing demand
for naphtha as a feedstock in the petrochemical industry. India's burgeoning
population, coupled with rapid urbanization and industrialization, has led to a
surge in the consumption of petrochemical products, thereby driving the demand
for naphtha. The country's strategic geographic location and its
growing importance as a manufacturing hub have further fueled the demand for
naphtha, particularly in sectors such as plastics, textiles, and automotive.
The Indian government's initiatives to promote
domestic manufacturing under schemes like "Make in India" have
bolstered investments in the petrochemical sector, thereby creating a conducive
environment for the growth of the naphtha market. Moreover, the liberalization
of foreign direct investment (FDI) norms in key sectors has attracted
significant investments from global players, leading to the establishment of
new petrochemical plants and capacity expansions, which, in turn, have
augmented the demand for naphtha.
Another noteworthy development is the increasing
adoption of naphtha as a cleaner alternative to coal in the production of power
and heat. With growing concerns over environmental pollution and the need to
reduce greenhouse gas emissions, industries are increasingly shifting towards
cleaner fuels, including naphtha, which offers lower emissions compared to
coal. This shift is expected to further drive the demand for naphtha in the
coming years, particularly in sectors such as power generation, where the need
for cleaner energy sources is paramount.
Moreover, technological advancements in naphtha
processing and refining have led to the production of higher-quality naphtha
with improved properties, thereby expanding its application scope across
various industries. The growing emphasis on sustainable practices
and the circular economy has led to initiatives aimed at recycling and
repurposing naphtha-based products, further driving market growth. Overall,
these recent developments indicate a promising outlook for the India Naphtha
Market, with continued expansion expected in the foreseeable future.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "India Naphtha Market.”
The India Naphtha Market is segmented into type, end
user, regional distribution, and company.
Based on the end use, the agriculture segment has
emerged as the fastest-growing end-user segment in the Indian market for
Naphtha. This development signifies a notable shift in the utilization of
naphtha within the agricultural sector, highlighting its increasing importance
in agricultural processes and practices. The adoption of naphtha in agriculture
may be attributed to various factors such as its role in pesticide and
fertilizer production, as well as its use in machinery and equipment
operations. Additionally, the growing focus on modern agricultural techniques
and practices, coupled with the need for efficient and cost-effective
solutions, likely contributes to the rise of naphtha usage in this sector. This
trend underscores the versatility of naphtha and its significance across diverse
industries, including agriculture, reflecting its potential to drive further
growth and innovation in the Indian market.
Based on the region, the western region has emerged as
the fastest-growing region in recent years. This growth trend underscores the
region's increasing demand for naphtha and its expanding significance in
various industries. The Western region encompasses major industrial hubs and
economic centers, including Gujarat and Maharashtra, which host a significant
portion of India's petrochemical and manufacturing industries. The strategic
location of these states, along with supportive infrastructure and policies,
has attracted considerable investments in the petrochemical sector, thereby
driving naphtha demand. The Western region's proximity to major ports
facilitates efficient import and export of naphtha, further contributing to
market growth. Likewise, the region's focus on industrialization, urbanization,
and infrastructure development reinforces the demand for naphtha across sectors
such as plastics, textiles, and automotive, fueling its rapid expansion in the
Western Indian market.
Major companies operating in India 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
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“The India Naphtha Market has experienced substantial
growth driven by several key factors. The increasing demand for naphtha as a
feedstock in the petrochemical industry, fueled by India's population growth,
urbanization, and industrialization, stands out prominently. Government
initiatives such as "Make in India" and liberalized FDI norms have
further propelled investments in the petrochemical sector, augmenting naphtha
demand. Naphtha's adoption as a cleaner alternative to coal in
power generation and heating processes aligns with environmental concerns,
contributing to market expansion. Technological advancements in naphtha
processing and refining have enhanced its quality and widened its application
scope across industries. Moreover, initiatives promoting sustainable practices
and circular economy principles drive the recycling and repurposing of
naphtha-based products, fostering continued growth in the India Naphtha Market,”
said Mr. Karan Chechi, Research Director, TechSci Research, a
research-based management consulting firm.
“India Naphtha Market, By Type (Light Naphtha,
Heavy Naphtha), By End User (Petrochemical, Agriculture, Paints & Coatings,
Aerospace, Others), By Region, Competition, Forecast & Opportunities,
2020-2030F”, has evaluated the future growth potential of India Naphtha Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Naphtha Market.
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