VM&P Naphtha Market Analysis By Type(Heavy Naphtha, Light Naphtha), By Application(Chemicals, Energy and Additives) & Forecast 2024-2035
- PUBLISHED ON
- 9/22/2022
- NO OF PAGES
- 225
- CATEGORY
- Energy & Power
The 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%
VM& P Naphtha is the short form of the compound pure varnish maker and painter naphtha. It is a medium boiling and medium evaporating aliphatic hydrocarbon solvent. It has different trade names such as the painter naphtha, petroleum ether, refined solvent naphtha, and petroleum spirit. It is an aliphatic hydrocarbon solvent mixture distilled from petroleum. Its characteristics are similar to mineral spirits, although it is more volatile and dries faster. It produces a faster drying time and has a higher strength and faster evaporation rate than "100% Mineral Spirits".
Furthermore, it can be used for thinning oil-based paint, enamel and varnish. It is commonly used to clean greasy, waxy, oily surfaces and machine parts. It has a nice sweet odor and is suitable for most solvent-based finishes, making it a popular choice for long-term applications. It operates similarly to lighter fluid and is an excellent solvent for removing sticky or label residue. It is used as a solvent in making adhesives, varnishes, lacquers, coatings, rubber, resins, textiles and printing inks, and in diluting paints. For instance, Pro’s and DIY’ers, Klean-Strip is the leading brand of solvents, thinners, removers, and cleaners. Klean-Strip VM&P Naphtha can be used in place of paint thinner for oil-based paint, varnish and enamel when a faster drying time is desired. It works to clean greasy, waxy, oily surfaces and machine parts and can also be used when spraying to help prevent runs.
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.
However, short-term exposure to VM&P naphtha may cause euphoria, dizziness, irritation to skin & eyes, giddiness and nausea & headaches, sometimes resulting in unconsciousness. In addition, long-term effects include headache, muscular weakness, damage to lungs & skin, fatigue, numbness, neurological disorders and blurred vision. Such effect of solvents on the human body is expected to hinder the market growth during the forecast period.
Moreover, real estate activities have experienced significant growth coupled with rapid industrialization in the Middle East Countries like Saudi Arabia and the United Arab Emirates. Therefore, the construction sector has experienced significant growth in the Middle East. The construction industry has a need for paints and coatings, cleaning and degreasing agents, and adhesives, which in turn creates a demand for aliphatic hydrocarbon solvents and thinners such as VM&P naphtha. VM&P naphtha has a high number of applications and can be used as a thinner for paints & coatings, as a solvent in hydrocarbon cracking, in laundry soaps, organic chemistry, cleaning fluids, and various other applications. It is also used to make varnish and to fuel camping cook stoves and lamps as well as to process fuels, such as gasoline and kerosene.
Type Insights
Light naphtha boils between 35°C and 130°C and has a higher paraffin content than heavy naphtha. Heavy naphtha, on the other hand, boils between 130°C and 210°C and contains many naphthenes and aromatics. Heavy naphtha is often further refined, while light naphtha is the least processed product in refineries. The heavy naphtha cut is typically sent to a reformer to upgrade it for use as a gasoline blendstock. For example, Shell Chemicals' VM&P Naphtha HT is a highly refined, hydrotreated, medium-evaporating petroleum solvent. Used as a diluent and solvent in fast-drying lacquers, paints, varnishes and inks. The product has high cycloparaffin content and has low aromatics, sulfur, and odor.
Application Insights
VM&P naphthas are primarily C7-C11 refined petroleum solvents, composed of 55% paraffins, 30% monocycloparaffins, 2% dicycloparaffins, and 12% alkylbenzenes. It is mainly used as a thinner and cleaning agent. Small amounts of low surface tension solvents such as VM&P Naphtha have been used to lower the surface tension of liquid coatings. Solvents as additives have the advantage that they evaporate during air drying or baking and do not remain in the coating like surfactants. VM&P Naphtha is an excellent thinner for oil-based paints, enamels and varnishes. Its fast drying properties offer better results in a limited amount of time and fewer passes when spraying.
Regional Insights
Asia Pacific dominated the VM&P naphtha market with a share of more than 37%, followed by North America and Europe. Due to the high demand application from countries like China, India and Japan the market for VM&P naphtha has been increasing. Rise in urbanization, population, and increase in the income of the middle-class population of the region have resulted in increased demand for residential and commercial buildings in the Asia Pacific, thereby contributing to the growth of the aliphatic hydrocarbon solvents & thinners market in this region. For example, in 2018, the Indian government has announced an investment worth USD 31,650 billion for the construction of 100 cities, under the smart cities plan. 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion (~USD 28.18 billion), over the coming five years creating scope for the application of aliphatic hydrocarbon solvents & thinners in paints and coatings. The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities, over the next ten years creating a major scope for construction activity thereby increasing the market for aliphatic hydrocarbon solvents & thinners over the coming years.
Key Companies Insights
Key players are focusing on technology collaborations, partnerships, mergers and acquisitions strategies to gain competitive advantage and expand product portfolios and business footprints. In addition, constant research and development bring innovative products to market. New product launches and continuous innovation are key strategies adopted by the major players. For example, AMBERLAC 13-038 is a vinyl toluene modified alkyd supplied by VM&P Naphtha that can be used in aerosol coatings, toy coatings, plastic coatings, industrial primers and topcoats. This product is resistant to aliphatic solvents and provides good gloss and colour.
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
By Geography
· North America
o U.S.
o Canada
o Mexico
· Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
· Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
· Latin America
o Brazil
o Argentina
o Colombia
· MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
Base Year: 2023Historic Year: 2016-2022
Forecast: 2024-2035
1 VM&P Naphtha Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of VM&P Naphtha
1.3 VM&P Naphtha Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of VM&P Naphtha
1.4.2 Applications of VM&P Naphtha
1.5 Market Exchange Rate
2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source
3 Market Competition Analysis
3.1 ARAMCO Market Performance Analysis
3.1.1 ARAMCO Basic Information
3.1.2 Product and Service Analysis
3.1.3 Strategies for Company to Deal with the Impact of COVID-19
3.1.4 ARAMCO Sales, Value, Price, Gross Margin 2016-2021
3.2 Total Market Performance Analysis
3.2.1 Total Basic Information
3.2.2 Product and Service Analysis
3.2.3 Strategies for Company to Deal with the Impact of COVID-19
3.2.4 Total Sales, Value, Price, Gross Margin 2016-2021
3.3 Mangalore Refinery and Petrochemicals Limited Market Performance Analysis
3.3.1 Mangalore Refinery and Petrochemicals Limited Basic Information
3.3.2 Product and Service Analysis
3.3.3 Strategies for Company to Deal with the Impact of COVID-19
3.3.4 Mangalore Refinery and Petrochemicals Limited Sales, Value, Price, Gross Margin 2016-2021
3.4 ADNOC Market Performance Analysis
3.4.1 ADNOC Basic Information
3.4.2 Product and Service Analysis
3.4.3 Strategies for Company to Deal with the Impact of COVID-19
3.4.4 ADNOC Sales, Value, Price, Gross Margin 2016-2021
3.5 BP Market Performance Analysis
3.5.1 BP Basic Information
3.5.2 Product and Service Analysis
3.5.3 Strategies for Company to Deal with the Impact of COVID-19
3.5.4 BP Sales, Value, Price, Gross Margin 2016-2021
3.6 ONGC Market Performance Analysis
3.6.1 ONGC Basic Information
3.6.2 Product and Service Analysis
3.6.3 Strategies for Company to Deal with the Impact of COVID-19
3.6.4 ONGC Sales, Value, Price, Gross Margin 2016-2021
3.7 Hindustan Petroleum Corporation Limited Market Performance Analysis
3.7.1 Hindustan Petroleum Corporation Limited Basic Information
3.7.2 Product and Service Analysis
3.7.3 Strategies for Company to Deal with the Impact of COVID-19
3.7.4 Hindustan Petroleum Corporation Limited Sales, Value, Price, Gross Margin 2016-2021
3.8 Shell Chemicals Market Performance Analysis
3.8.1 Shell Chemicals Basic Information
3.8.2 Product and Service Analysis
3.8.3 Strategies for Company to Deal with the Impact of COVID-19
3.8.4 Shell Chemicals Sales, Value, Price, Gross Margin 2016-2021
3.9 PEMEX Market Performance Analysis
3.9.1 PEMEX Basic Information
3.9.2 Product and Service Analysis
3.9.3 Strategies for Company to Deal with the Impact of COVID-19
3.9.4 PEMEX Sales, Value, Price, Gross Margin 2016-2021
3.10 Sinopec Market Performance Analysis
3.10.1 Sinopec Basic Information
3.10.2 Product and Service Analysis
3.10.3 Strategies for Company to Deal with the Impact of COVID-19
3.10.4 Sinopec Sales, Value, Price, Gross Margin 2016-2021
3.11 Kuwait Petroleum Corporation Market Performance Analysis
3.11.1 Kuwait Petroleum Corporation Basic Information
3.11.2 Product and Service Analysis
3.11.3 Strategies for Company to Deal with the Impact of COVID-19
3.11.4 Kuwait Petroleum Corporation Sales, Value, Price, Gross Margin 2016-2021
4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global VM&P Naphtha Production and Value by Type
4.1.1 Global VM&P Naphtha Production by Type 2016-2021
4.1.2 Global VM&P Naphtha Market Value by Type 2016-2021
4.2 Global VM&P Naphtha Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Heavy Naphtha Market Production, Value and Growth Rate
4.2.2 Light Naphtha Market Production, Value and Growth Rate
4.3 Global VM&P Naphtha Production and Value Forecast by Type
4.3.1 Global VM&P Naphtha Production Forecast by Type 2021-2026
4.3.2 Global VM&P Naphtha Market Value Forecast by Type 2021-2026
4.4 Global VM&P Naphtha Market Production, Value and Growth Rate by Type Forecast 2021-2026
4.4.1 Heavy Naphtha Market Production, Value and Growth Rate Forecast
4.4.2 Light Naphtha Market Production, Value and Growth Rate Forecast
5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global VM&P Naphtha Consumption and Value by Application
5.1.1 Global VM&P Naphtha Consumption by Application 2016-2021
5.1.2 Global VM&P Naphtha Market Value by Application 2016-2021
5.2 Global VM&P Naphtha Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 Chemicals Market Consumption, Value and Growth Rate
5.2.2 Energy and Additives Market Consumption, Value and Growth Rate
5.3 Global VM&P Naphtha Consumption and Value Forecast by Application
5.3.1 Global VM&P Naphtha Consumption Forecast by Application 2021-2026
5.3.2 Global VM&P Naphtha Market Value Forecast by Application 2021-2026
5.4 Global VM&P Naphtha Market Consumption, Value and Growth Rate by Application Forecast 2021-2026
5.4.1 Chemicals Market Consumption, Value and Growth Rate Forecast
5.4.2 Energy and Additives Market Consumption, Value and Growth Rate Forecast
6 Global VM&P Naphtha by Region, Historical Data and Market Forecasts
6.1 Global VM&P Naphtha Sales by Region 2016-2021
6.2 Global VM&P Naphtha Market Value by Region 2016-2021
6.3 Global VM&P Naphtha Market Sales, Value and Growth Rate by Region 2016-2021
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 Middle East and Africa
6.4 Global VM&P Naphtha Sales Forecast by Region 2021-2026
6.5 Global VM&P Naphtha Market Value Forecast by Region 2021-2026
6.6 Global VM&P Naphtha Market Sales, Value and Growth Rate Forecast by Region 2021-2026
6.6.1 North America
6.6.2 Europe
6.6.3 Asia Pacific
6.6.4 South America
6.6.5 Middle East and Africa
7 United State Market Size Analysis 2016-2026
7.1 United State VM&P Naphtha Value and Market Growth 2016-2021
7.2 United State VM&P Naphtha Sales and Market Growth 2016-2021
7.3 United State VM&P Naphtha Market Value Forecast 2021-2026
8 Canada Market Size Analysis 2016-2026
8.1 Canada VM&P Naphtha Value and Market Growth 2016-2021
8.2 Canada VM&P Naphtha Sales and Market Growth 2016-2021
8.3 Canada VM&P Naphtha Market Value Forecast 2021-2026
9 Germany Market Size Analysis 2016-2026
9.1 Germany VM&P Naphtha Value and Market Growth 2016-2021
9.2 Germany VM&P Naphtha Sales and Market Growth 2016-2021
9.3 Germany VM&P Naphtha Market Value Forecast 2021-2026
10 UK Market Size Analysis 2016-2026
10.1 UK VM&P Naphtha Value and Market Growth 2016-2021
10.2 UK VM&P Naphtha Sales and Market Growth 2016-2021
10.3 UK VM&P Naphtha Market Value Forecast 2021-2026
11 France Market Size Analysis 2016-2026
11.1 France VM&P Naphtha Value and Market Growth 2016-2021
11.2 France VM&P Naphtha Sales and Market Growth 2016-2021
11.3 France VM&P Naphtha Market Value Forecast 2021-2026
12 Italy Market Size Analysis 2016-2026
12.1 Italy VM&P Naphtha Value and Market Growth 2016-2021
12.2 Italy VM&P Naphtha Sales and Market Growth 2016-2021
12.3 Italy VM&P Naphtha Market Value Forecast 2021-2026
13 Spain Market Size Analysis 2016-2026
13.1 Spain VM&P Naphtha Value and Market Growth 2016-2021
13.2 Spain VM&P Naphtha Sales and Market Growth 2016-2021
13.3 Spain VM&P Naphtha Market Value Forecast 2021-2026
14 Russia Market Size Analysis 2016-2026
14.1 Russia VM&P Naphtha Value and Market Growth 2016-2021
14.2 Russia VM&P Naphtha Sales and Market Growth 2016-2021
14.3 Russia VM&P Naphtha Market Value Forecast 2021-2026
15 China Market Size Analysis 2016-2026
15.1 China VM&P Naphtha Value and Market Growth 2016-2021
15.2 China VM&P Naphtha Sales and Market Growth 2016-2021
15.3 China VM&P Naphtha Market Value Forecast 2021-2026
16 Japan Market Size Analysis 2016-2026
16.1 Japan VM&P Naphtha Value and Market Growth 2016-2021
16.2 Japan VM&P Naphtha Sales and Market Growth 2016-2021
16.3 Japan VM&P Naphtha Market Value Forecast 2021-2026
17 South Korea Market Size Analysis 2016-2026
17.1 South Korea VM&P Naphtha Value and Market Growth 2016-2021
17.2 South Korea VM&P Naphtha Sales and Market Growth 2016-2021
17.3 South Korea VM&P Naphtha Market Value Forecast 2021-2026
18 Australia Market Size Analysis 2016-2026
18.1 Australia VM&P Naphtha Value and Market Growth 2016-2021
18.2 Australia VM&P Naphtha Sales and Market Growth 2016-2021
18.3 Australia VM&P Naphtha Market Value Forecast 2021-2026
19 Thailand Market Size Analysis 2016-2026
19.1 Thailand VM&P Naphtha Value and Market Growth 2016-2021
19.2 Thailand VM&P Naphtha Sales and Market Growth 2016-2021
19.3 Thailand VM&P Naphtha Market Value Forecast 2021-2026
20 Brazil Market Size Analysis 2016-2026
20.1 Brazil VM&P Naphtha Value and Market Growth 2016-2021
20.2 Brazil VM&P Naphtha Sales and Market Growth 2016-2021
20.3 Brazil VM&P Naphtha Market Value Forecast 2021-2026
21 Argentina Market Size Analysis 2016-2026
21.1 Argentina VM&P Naphtha Value and Market Growth 2016-2021
21.2 Argentina VM&P Naphtha Sales and Market Growth 2016-2021
21.3 Argentina VM&P Naphtha Market Value Forecast 2021-2026
22 Chile Market Size Analysis 2016-2026
22.1 Chile VM&P Naphtha Value and Market Growth 2016-2021
22.2 Chile VM&P Naphtha Sales and Market Growth 2016-2021
22.3 Chile VM&P Naphtha Market Value Forecast 2021-2026
23 South Africa Market Size Analysis 2016-2026
23.1 South Africa VM&P Naphtha Value and Market Growth 2016-2021
23.2 South Africa VM&P Naphtha Sales and Market Growth 2016-2021
23.3 South Africa VM&P Naphtha Market Value Forecast 2021-2026
24 Egypt Market Size Analysis 2016-2026
24.1 Egypt VM&P Naphtha Value and Market Growth 2016-2021
24.2 Egypt VM&P Naphtha Sales and Market Growth 2016-2021
24.3 Egypt VM&P Naphtha Market Value Forecast 2021-2026
25 UAE Market Size Analysis 2016-2026
25.1 UAE VM&P Naphtha Value and Market Growth 2016-2021
25.2 UAE VM&P Naphtha Sales and Market Growth 2016-2021
25.3 UAE VM&P Naphtha Market Value Forecast 2021-2026
26 Saudi Arabia Market Size Analysis 2016-2026
26.1 Saudi Arabia VM&P Naphtha Value and Market Growth 2016-2021
26.2 Saudi Arabia VM&P Naphtha Sales and Market Growth 2016-2021
26.3 Saudi Arabia VM&P Naphtha Market Value Forecast 2021-2026
27 Market Dynamic Analysis and Development Suggestions
27.1 Market Drivers
27.2 Market Development Constraints
27.3 PEST Analysis
27.3.1 Political Factors
27.3.2 Economic Factors
27.3.3 Social Factors
27.3.4 Technological Factors
27.4 Industry Trends Under COVID-19
27.4.1 Risk Assessment on COVID-19
27.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
27.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
27.5 Market Entry Strategy Analysis
27.5.1 Market Definition
27.5.2 Client
27.5.3 Distribution Model
27.5.4 Product Messaging and Positioning
27.5.5 Price
27.6 Advice on Entering the Market
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