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(IT-NEWSWIRE.COM, September 03, 2018 ) This report covers the present scenario (with the base year being 2017) and the growth prospects of global Solvent Naphtha market for 2018-2023.
Solvent naphtha, which are composed of a mixture of hydrocarbons, are used in a variety of application areas and are incorporated in great number of formulated chemical products, including: architectural paints and protective coatings; printing inks and printing press cleaners; other cleaing compounds; pesticides; degreasing formulations; and household products. Solvent naphtha is a general term as each refinery produces its own naphtha with unique initial and final boiling points and other physical and composition characteristics. USA is the leading supplier of solvent naphtha, the production of which reached 1817 K MT in 2017, accounting for about 24.71% of the total global market. China, Europe, and Northeast Asia are also important supply region of solvent. Generally, the supply and demand of solvent naphtha has been stable in the global market, despite the dramatic decrease of supply in China. Despite the global economic recovery and the improvement in downstream demand, the China solvent naphtha industry is still overcapacity. And the increasingly stricter environment requirement and higher consumption tax also restrict the development of the industry. Some companies were forced to cut back production even close down some manufacturing bases. Sinopec and CNPC has sharply decreased the supply volume of solvent naphtha during the past 5 years. The top players cover Shell, ExxonMobil, Total, Chevron Phillips and SK etc., which are playing important roles in global Solvent Naphtha market. The Top 3 players in global market was 30.53% in 2017, while the share of top 5 players was 38.24%. The market is fragmented, also each company owns a broad product portfolio. Except policy affect, downstream demand is the key influence factor to the market. Paints & Coatings accounted for the largest market with about 27.51% of the global consumption for solvent naphtha in 2017. Moreover, it is anticipated to grow at a CAGR of 3.69% during the forecast period. With over 16.56% share of in the solvent naphtha market, Rubber & Resin was the second largest application market in 2017, and is anticipated to grow at a CAGR of 4.14%, in terms of consumption, during the forecast period. In recent years, sharp fluctuations of oil prices on the international market have affected the development of the world economy. Under the influence of raw material, market competitions and economic conditions, the price of solvent naphtha is also unstable. In the next few years, we predict that price will increase as the cost of crude oil has been hiking. As competition intensifies, prices gap between different brands will go narrowing.
Over the next five years, this report projects that Solvent Naphtha will register a 5.1% CAGR in terms of revenue, reach US$ 9710 million by 2023, from US$ 7200 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Solvent Naphtha market by product type, application, key manufacturers and key regions.
To calculate the market size, this report considers value and volume generated from the sales of the following segments:
Segmentation by product type: Paraffin Solvent CycloParaffin Solvent C9 Solvent C10 Solvent Other Segmentation by application: Paints & Coatings Agro Chemicals Rubber & Resin Printing Inks Industrial Cleaning Other
This report also splits the market by region: Americas United States Canada Mexico Brazil APAC China Japan Korea Southeast Asia India Australia Europe Germany France UK Italy Russia Spain Middle East & Africa Egypt South Africa Israel Turkey GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Shell ExxonMobil Total Chevron Phillips SK Calumet Idemitsu BP Dow Citgo Reliance KAPCO Mitsubishi CEPSA Ganga Rasayanie JX Nippon Oil & Energy Neste CPC Corporation Gulf Chemicals and Industrial Oils Sinopec CNPC Jiangsu Hualun Changshu Alliance Chemical Suzhou Jiutai Group
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives To study and analyze the global Solvent Naphtha consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023. To understand the structure of Solvent Naphtha market by identifying its various subsegments. Focuses on the key global Solvent Naphtha manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years. To analyze the Solvent Naphtha with respect to individual growth trends, future prospects, and their contribution to the total market. To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks). To project the consumption of Solvent Naphtha submarkets, with respect to key regions (along with their respective key countries). To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market. To strategically profile the key players and comprehensively analyze their growth strategies.
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Contact Information: Madhuri Vetal NxtGen Reports Email: sales@nxtgenreports.com Phone: +918551022388 More Report at: https://www.nxtgenreports.com/market-research-reports
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Madhuri Vetal
+918551022388
sales@nxtgenreports.com
Source: EmailWire.Com
Source: EmailWire.com
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