Distillation is the primary stage of petroleum refining, which separates crude oil into hydrocarbon groups. The subsequent goods are directly related to the features of the crude oil being handled. Furthermore, Most of these products are transformed into operational products by changing their physical and molecular structures through conversion, reforming and by cracking processes. Petroleum liquid feedstock -naphtha is a product, which is the mixture of various hydrocarbons that are extremely flammable and volatile, and are obtained during distillation of coal tar or petroleum or by the distillation of wood and also known by various names such as petroleum naphtha, wood naphtha and coal tar naphtha. Gas oil can be defined as a group of petroleum distillation products with boiling points between lubricating oil and kerosene.
The primary and secondary applications of Petroleum Liquid Feedstock naphtha and gas oil are the production of gasoline, fuels, solvents which are used industrially, diesel and secondary application of petroleum liquid feedstock naphtha and gas oil is in the production of petrochemical products such as propylene and ethylene, by steam cracking by using naphtha as feedstock.
Consumption of petroleum liquid feedstock naphtha and gas oil is expected to increase significantly worldwide, and on the basis of region, North America is expected to witness healthy growth in the market due to steam cracker feedstock demand, consumption is projected to exponentially increase in Canada for heavy crude blending for dilution purposes and slightly for direct blending into gasoline and isomerization for the enhancement of octane.
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When compared to petroleum liquid feedstock -light naphtha, consumption of heavy naphtha is expected to increase prominently. Gasoline and aromatics production are the main drivers for the growth of the petroleum liquid feedstock naphtha and gas oil market. Mainly, heavy naphtha is utilised in refineries, the main stream of heavy naphtha being its use as reformer feed for the production of high octane gasoline and aromatics.
Petroleum Liquid Feedstock Market- Naphtha and Gas Oil: Market Dynamics
Innovative technologies in petroleum liquid feedstock market is expected to grow significantly over the forecast period 2016-2026, petroleum liquid feedstock naphtha and gas oil demand is primarily driven from the transportation industry. When analysed on the basis of geography, more demand growth is expected from Southeast Asia, India and the Middle East.
The transportation sector is estimated for almost over half of petroleum liquid feedstock naphtha and gas oil consumption, and is primarily accounted by domestic transportation such as motor vehicles and international bunkers such as marine fuel, and secondly usage from industrial and commercial sectors. The relatively high consumption of petroleum liquid feedstock naphtha and gas oil in these sectors is expected to drive the demand in the near future. Heavy naphtha is expected to witness a healthy growth rate in the forecast period. The growth factors driving heavy naphtha are application in aromatics and gasoline, as it is used in the production of high quality aromatics and high octane gasoline. The fall in oil prices over the past few years hamper the naphtha and gas oil market growth.
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Petroleum Liquid Feedstock Market- Naphtha and Gas Oil: Segmentation
Petroleum Liquid Feedstock Market- Naphtha and Gas Oil is segmented mainly on the basis of application, type and product type.
On the basis of type, thepetroleum liquid feedstock market- naphtha and gas oil, is segmented as follows;
- Light Naphtha
- Heavy Naphtha
On the basis of application, thepetroleum liquid feedstock market- naphtha and gas oil, is segmented as follows;
- Industrial Solvents
- Cleaning Fluids
- Adulterant to petrol
On the basis of product type, the petroleum liquid feedstock market- naphtha and gas oil, is segmented as fallows
Some of the market players of Petroleum Liquid Feedstock Market are as follows Ethylene
- Exxon Mobil
- Reliance Industries
- British Petroleum
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Petroleum Liquid Feedstock Market- Naphtha and Gas Oil: Market Participants
Examples of some of the market participants identified across the value chain of petroleum liquid feedstock market- naphtha and gas oil include Exxon Mobil, Shell, Reliance Industries, British Petroleum and CNPC among others.
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