According to the new report published by Value Market Research, the Global Petroleum Liquid Feedstock Market was valued USD 258.8 BN (by revenue) in 2018. It is presumed to touch USD 329.2 BN by 2025 with a CAGR of 3.5% from 2019-2025. Growing demand for petrochemicals feedstock for various operation at manufacturing site coupled with the growing demand for naptha and ethane is predominantly driving the market growth. Also, increasing production of fertilizers, clothing, detergents, plastics, and tires which require petroleum feedstock is again expected to shape the industry structure. Expanding automotive industry and increasing number of industries which uses petroleum feedstock in the production of gasoline and synthetic aromatics is further anticipated to boost market demand. Moreover, growing demand of naptha for diluting heavy crude oil in the blending process during gasoline production coupled with the expanding chemical sector is also presumed to increase the market value over the forecast timeline.
Petroleum liquid feedstock is a raw liquid materials which are used in petrochemical and refineries industry for converting them into petroleum products which are used across various manufacturing industries. They are basically used to produce naphtha and gas oil which are further used to manufacture ethylene, benzene, naphthalene, propylene, and hexane. The product is also used across processing and manufacturing industries for the production of aromatics such as toluene, benzene, and xylene which are used in chemical and other industries that require a large amount of crude oil and gas and its derivatives.
The report "Global Petroleum Liquid Feedstock Market Report By Type (Naphtha And Gasoil), Application (Industrial Solvents, Gasoline, Cleaning Fluids, Adulterant To Petrol, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation, And Forecast, 2018-2025" uncovers important perspective of the market such as dynamics, growth factor, imitations, challenges, competitive dashboard as well as their major contribution in the market.
Segmentation incorporates type, application, and region. Type include naphtha and gasoil. Out of which, naptha is dominating the market owing to the rising demand for the product across the hydrocarbon cracking process in the petrochemical industry. Also, segment growth can be attributed to the growing demand for transportation fuel around the globe. The application encompasses industrial solvents, gasoline, cleaning fluids, adulterant to petrol, and others. Among which, gasoline is leading the market owing to the rising production of automotive which uses gasoline as transportation fuel coupled with the growing demand of the product as an aviation fuel propeller for aircraft. Geographical segmentation covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is ruling the overall market owing to the rising demand for petroleum products along with the expanding petrochemical and refinery industry in the region.
The Report Segments Global Petroleum Liquid Feedstock Market -
Adulterant to petrol
Middle East & Africa
Players Profiled in the Report:
British Petroleum, CNPC, Exxon MobilShell, and Reliance Industries.
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