VM&P Naphtha market has witnessed a growth from USD 3,450 million to USD 6,210 million from 2023 to 2031 with a CAGR of 5.6%
A comprehensive analysis of the market for the anticipated term is provided in the report on the global VM&P naphtha market (2022-2030). The study includes a number of divisions as well as an analysis of the trends and other elements that are significantly influencing the market. These variables, or the market dynamics, include the motivators, inhibitors, opportunities, and difficulties through which the market impact of these variables is described. Opportunities and challenges are external market aspects, whereas drivers and restraints are inner market forces. The Global VM&P Naphtha Market analysis offers a prediction of how the market will evolve in terms of revenue over the forecast period.
This study offers a complete environment for the investigation of the global market for VM&P naphtha. The report’s market estimations came from extensive secondary research, primary interviews, and internal expert reviews. These market estimates have been taken into account by researching how numerous social, political, and economic factors, as well as the present market dynamics, are affecting the growth of the global VM&P Naphtha Market.
The Porter’s Five Forces analysis, which explains the five forces: buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the global VM&P Naphtha Market, is included in the chapter along with the market overview, which includes the market dynamics. It describes the different parties, including system integrators, middlemen, and end users.
The increasing demand for paints & coatings is expected to boost the VM&P naphtha market growth during the forecast period due to enhancement properties in coating. In addition, increasing construction and reconstruction activities across the globe and rising government expenditure on developing infrastructure are expected to increase demand for paints and coating products, which is expected to support the VM&P naphtha market’s growth. Furthermore, rapid industrialization in developing and developed countries and the wide applicability of aliphatic solvents in various industry verticals are other significant factors expected to drive market growth during the forecast period. Surging demand for paints & coatings from decorative, automotive, industrial, and protective paints & coatings industries is fuelling the growth of the VM&P naphtha market across the globe. Increasing demand for residential and commercial buildings from emerging economies acts as an opportunity for the growth of the VM&P naphtha market.
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Some of the key players operating in the global VM&P naphtha market include:
- Exxon Mobil Corporation
- Kleenheat
- bp p.l.c.
- Bharat Petroleum Corporation Limited
- Flaga Gmbh
- Repsol
- Chevron Corporation
- Petroliam Nasional Berhad (PETRONAS)
- Phillips 66 Company
- JGC HOLDINGS CORPORATION
- China Gas Holdings Ltd.
- Shell group of companies
- Reliance Industries Limited
- Saudi Aramco
- Qatargas Operating Company Limited
- Total Se
- Others
Segments
By Type
- Heavy Naphtha
- Light Naphtha
By Application
- Chemicals
- Energy and Additives
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