Report Code: A07609 | Pages: NA | Mar 2023 | 1173 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Petroleum Liquid Feedstock Market
Request Now !Petroleum liquid feedstock is a crude material, which is utilized in industrial procedure to produce energy. It is utilized to create oil-based commodities. Unrefined petroleum is utilized in a refining procedure to get gas. Petroleum liquid feedstock is a blend of different sorts of hydrocarbons that are intensely combustible and unstable, and are acquired by refining oil, coal, and wood. It is also called oil naphtha, coal naphtha, and wood naphtha. Further, oil-based commodities are changed into operational items by adjusting their physical and compound structure by distillation.Â
COVID-19 scenario analysis:
The fall in oil prices in recent years hinders the petroleum liquid feedstock market development. In addition, the growth of electric vehicles in developed region impacts the demand for petroleum liquid feedstock. In the coming years, developing regions, such as Asia-Pacific, is expected to witness the adoption of electrical vehicles. Â Â
The petrochemical sector is a major industry that propels the petroleum liquid feedstock market. Rise in adoption of petrochemical items from end-use industries, such as construction, plastic, transportation, and others, has been propelling the petrochemical industry growth. One of the major uses of petroleum liquid feedstock is in the manufacturing and processing of aromatics. There is significant increase in demand for aromatic products, such as xylene, benzene, and toluene, from various end-use sectors such as chemical industries, owing to their expanding application as feedstock for numerous items. This is anticipated to drive the growth of the petroleum liquid feedstock market.Â
Rise in advancements in technologies in the petroleum liquid feedstock market is expected to drive the market growth over the come years. The demand for petroleum liquid feedstock is basically driven by the transportation sector. Petroleum liquid feedstock naphtha and oil are utilized by local transportation, such as engine vehicles, motor vehicles, and bunkers, including marine fuel and used in the industrial and business sectors. Based on region, more development is expected from India, Southeast Asia, and the Middle East. Heavy naphtha is expected to witness the fastest growth rate during the forecast period. The factors propelling the demand for heavy naphtha are application in aromatics and fuel as it is utilized in the production of top-quality aromatics and high-octane gas.Â
Key benefits of the report:
Petroleum Liquid Feedstock Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | Exxon Mobil Corporation, Shell, Reliance Industries, British Petroleum, China National Petroleum Corporation, Chevron Phillips Chemical Company, Flint Hills Resources, Idemitsu Kosan Co., Ltd., China Petroleum and Chemical Corporation, Royal Dutch Shell plc., Total S.A., YPF |
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