Home / Knowledge / News / Textiles / Global demand for naphtha to rise by 2020: OPEC
Global demand for naphtha to rise by 2020: OPEC
13
Nov '13
Global demand for naphtha will expand faster than any other light products through 2020, spurred by rising needs of the petrochemical industry in Asia, as per the latest report by the Organization of Petroleum Exporting Countries (OPEC).
 
According to the 7th edition of the annual World Oil Outlook 2013 report of OPEC, the naphtha use in the Asia-Pacific region will grow by 22 percent to 4.4 million barrels per day (bpd) in this period, with China accounting for more than a third of the increase.
 
As per OPEC report, the expected growth in the demand for naphtha is double than the expected growth in the demand for other petrochemical feedstock such as ethane and propane which is expected to increase to 3.2 million bpd by 2020.
 
“Naphtha is anticipated to be the fastest growing light product over the forecast period especially in developing Asian countries,” the report adds.
 
However, according to the OPEC report, “the Middle East and the US are also foreseen some new major petrochemicals project, but as these are mostly based on ethane usage, naphtha demand growth in these countries is expected to be limited in the future.”
 
In terms of the petrochemical sector, the report states “there has been a rapid expansion in the petrochemical sector in several OPEC Member Countries throughout the last few decades.”
 
“In Saudi Arabia, two projects using ethane and naphtha as feedstock, are to be ready by 2015 and 2016, which will add 1.6 million tons of annual ethylene capacity in the country, whereas by 2014, three new projects will become operational in Iran, adding 3.2 million tons per year of ethylene capacity based on ethane and 120,000 tons of annual propylene capacity in the country,” the report adds.
 
OPEC is a permanent intergovernmental organization of 12 oil-exporting developing nations, and it coordinates and unifies the petroleum policies of its member countries. 
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search