The global naphtha market is expected to reach USD 183.38 billion by 2022, according to a new report by Grand View Research, Inc. Growth of petrochemical industry particularly in Asia Pacific and Middle East is expected to remain a key driving factor for global naphtha market. Naphtha finds application as a feedstock in catalytic reforming for manufacturing aromatics and high octane gasoline. Shale gas boom in North America has softened ethane prices which has had a negative impact on naphtha demand. Rising R&D expenditure to develop alternative technologies such as hydro-pyrolysis and catalytic cracking of naphtha is expected to lower manufacturing cost and provide new avenues to manufacturers.
http://www.grandviewresearch.com/industry-analysis/naphtha-market
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