South America Naphtha Consumption to Cross 36 Million Metric Tons by 2026
Rising gasoline consumption in
Brazil, coupled with naphtha demand by Venezuela to use as a diluent for extra
heavy crude oil and addition of naphtha based petrochemical plants to fuel
South America naphtha consumption through 2026
According to TechSci Research report “South America Naphtha Demand Supply Analysis, By End Use, By Region, Forecast
& Opportunities, 2011 – 2026”, South America naphtha
consumption is projected to cross 36.94 million metric tons by 2026. Major
demand for naphtha in the region emanates from Brazil, which, along with
Argentina and Venezuela, accounted for a lion’s share in South America naphtha
consumption in 2016. Brazil relies on naphtha imports to fuel its domestic
petrochemical industry, while Venezuela relies on heavily on naphtha imports,
as it is used as a diluent for extra heavy crude oil for easy exports.
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17 market data Tables and 36 Figures spread through 55
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America Naphtha Demand Supply Analysis"
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In terms of type, Heavy naphtha
dominated the market and the trend is expected to continue over the forecast
period. South America is a key importer
of light and heavy naphtha and the US and Algeria are major sources of naphtha
imports to the region. Saudi Arabia, Qatar and UAE are some other countries
that also exported naphtha to South America. Gasoline Blending and Reforming were the major demand
generators for South America naphtha consumption market and will remain the
leading demand generators through 2026.
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“Owing
to recovery in Brazil’s economy and surging petrochemical industry, the country
intends to capitalize on the low-cost naphtha imports to increase margins and
compete in global petrochemical business. Brazil is one of the largest chemical
industries in the world and this is projected to fuel demand for naphtha during
the forecast period.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“South America
Naphtha Demand Supply Analysis, By End Use, By Region, Forecast &
Opportunities, 2011 – 2026” has evaluated the South 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 South America naphtha market.
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