Europe naphtha consumption market is projected to register negative CAGR by 2026
The reason behind the negative CAGR can be attributed to the closure of naphtha based crackers as they have become uneconomical owing to price volatility associated with naphtha and easy availability of cheaper alternative feedstock i.e. natural gas.
New cracker capacities are being added that use natural gas as feedstock and are very price competitive in comparison to petrochemicals derived from naphtha cracking. The shale gas boom in the United States has altered economics of global petrochemical business making them competitive to prices offered by Middle East and Africa. Prominent European players in petrochemical business are adding gas based cracker capacities with the US supplying ethane for feeding their expanding capacities.
The study is useful in providing answers to past, current and future trends of naphtha consumption in Europe market. This study helps in analysing specific country naphtha consumption trend which are useful for industry stakeholders such as naphtha producers (refiners), Natural Gas Liquid (NGL) plants, crude oil suppliers, naphtha traders, shipping companies, regulatory bodies.