Naphtha can be defined as a flammable liquid hydrocarbon blend which is also called by names Nephi and naphthar. Naphtha is produced by the combination of natural gas condensates, petroleum distillates, and the distillation of coal tar and peat.
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It is primarily utilised as solvents and diluents and also as a raw material for the transformation to gasoline. Naphtha is chiefly comprised of straight-chain alkanes or paraffin; however, it can also have cyclohexanes (naphthenes) and aromatics. The key utilisation of naphtha is as a solvent; hence, it is used to mix other substances and clean metals.
Globally, the United States, South Korea, and Vietnam are the three important exporters of naphtha.
Key Details About the Naphtha Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Naphtha price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Naphtha Price Trend, chart, including India Naphtha price, USA Naphtha price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Naphtha Price Trend:
Naphtha is extensively utilised as a solvent and also in hydrocarbon cracking, laundry soaps, and cleaning fluids. In addition, it is also employed to produce varnishes, and at times it is utilised as a fuel for camp stoves, blowtorches, lanterns, cigarette lighters, heating units, and a diluent for painting. Its competence to burn reasonably efficiently makes it popularly used as an additive to other fuels.
Moreover, naphtha is employed as a raw material for manufacturing plastics such as polyethylene and polypropylene. Besides, several naphtha chemicals are also utilised as raw materials for producing petrochemicals consisting of gasoline and butane. Apart from this, a large volume of naphtha is also used in the energy industry every year. Because of its low evapouration point, it is primarily utilised as a diluter for paints, asphalt, and varnish. Furthermore, it is also largely used for dry-cleaning purposes.
Key Players:
- China Petrochemical Corporation
- Reliance Industries Limited
- Shell Chemicals
- Exxon Mobil Corporation
- Indian Oil Corporation Limited
- Novatek
- SABIC
News & Recent Development:
- October 2022: LG Chem closed its naphtha crackers based in South Korea to carry out maintenance work for seven weeks. This maintenance shutdown will impact the supply of petrochemicals in the region.
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