North America Naphtha Consumption to Cross 216 Million Metric Ton by 2026
Surging gasoline consumption across
the region, shifting of naphtha based crackers towards shale gas given the
shale gas boom in U.S. are some factor set to drive North America naphtha
consumption market through 2026.
According to TechSci Research report “North America Naphtha Demand Supply Analysis, By End Use, Forecast &
Opportunities, 2011 – 2026”, North America naphtha
consumption is projected to cross 216.34 million metric tons by 2026. Rising demand
for gasoline in North America is anticipated to boost naphtha consumption for
gasoline blending in the coming years. According to BP Statistical, North
America gasoline consumption stood at 10.72 million barrels/day in 2015,
registering an increase of 2% over the previous year. Although naphtha based
crackers are shifting towards shale gas, the country would continue to dominate
naphtha consumption in the region during the forecast period as well.
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Naphtha exports from North
America increased from around 7 MMT in 2011 to over 14 MMT in 2015. The
increase in naphtha exports can be attributed to growing naphtha production in
the North America. Gasoline Blending and Reforming were
the major demand generators for North America naphtha consumption market and
will continue dominating the market through 2026.
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“North America accounted for the second
largest share in naphtha consumption across the globe, due to growing
automobile market and rising demand for gasoline in the United States. A large
amount of naphtha would be consumed domestically by refineries in the country
to address the growing demand for gasoline.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“North America
Naphtha Demand Supply Analysis, By End Use, Forecast & Opportunities, 2011
– 2026” has evaluated the North America naphtha market and provides
the statistics and information on market structure, industry behavior and trends.
The report includes market projections and demand forecasting. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and analyzes
emerging trends for North America naphtha market.
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