Rising Focus on Sustainable Energy Driving Market Expansion
Category: Oil & Gas Published Date : Feb-23 ID: CVC-22487 Format: PDF Pages: 275
According to a research survey conducted by ChemView Consulting, Renewable Naphtha Market is estimated to be worth US$ 515.27 Mn in 2023. The market is expected to grow at a CAGR of 10.50 % between 2023 and 2033 to hit US$ 1398.49 Mn by 2033 end.
With the increasing demand for sustainable and renewable sources of energy, the renewable naphtha market is expected to witness a significant shift towards circular economy practices. In this trend, renewable naphtha production will be largely focused on recycling waste materials and converting them into high-quality naphtha. By using circular economy practices, the renewable naphtha market can reduce waste, minimize greenhouse gas emissions, and increase resource efficiency.
As the renewable naphtha market grows, there is a need for better supply chain management to ensure efficient production, storage, and distribution of renewable naphtha. The trend towards digitalization will enable renewable naphtha producers to leverage advanced technologies such as blockchain, artificial intelligence, and the Internet of Things (IoT) to optimize the supply chain, enhance transparency, and reduce costs. This trend will revolutionize the renewable naphtha market by providing real-time monitoring, improved tracking and tracing, and data-driven decision-making.
The global demand for renewable and sustainable products is growing rapidly due to increasing awareness of climate change and environmental degradation. As a result, the renewable naphtha market is experiencing significant growth. Renewable naphtha is a bio-based liquid hydrocarbon that is produced from biomass feedstocks such as sugarcane, corn, and wheat. The renewable naphtha is a drop-in replacement for traditional fossil fuel-based naphtha, making it a viable alternative for various applications.
The renewable naphtha market is experiencing significant growth due to favorable government policies and incentives. Many governments around the world are promoting the use of renewable energy and sustainable products to reduce greenhouse gas emissions and combat climate change. As a result, they are providing various incentives and subsidies to encourage the production and use of renewable naphtha. Additionally, many governments are implementing regulations and mandates that require companies to reduce their carbon footprint and use sustainable products. These regulations are creating a market for renewable naphtha as a viable alternative to traditional fossil fuel-based products. As a result, the renewable naphtha market is expected to grow as more governments implement favorable policies and incentives.
After conducting a thorough analysis of the Renewable Naphtha Market, we have identified the top three trending segments in the industry. These segments are experiencing high demand, strong market growth, and extensive adoption.
Light Naphtha has emerged as the most popular choice in the Renewable Naphtha Market for fuel blending. This type of naphtha is a valuable component for gasoline production and is also used in the blending of aviation fuels. Its low boiling point and high octane number make it ideal for improving the quality and performance of gasoline. The high purity and cost-effectiveness of light naphtha make it the preferred choice for consumers seeking efficient and sustainable fuel blending solutions.
Heavy Naphtha is the most selling product in the Renewable Naphtha Market for the feed for plastics production. This type of naphtha is a crucial feedstock for the production of various plastics, such as ethylene, propylene, butadiene, and others. Heavy naphtha offers a sustainable and eco-friendly alternative to traditional petroleum-based feedstock’s, reducing the carbon footprint of plastic production. The high quality and versatility of heavy naphtha make it the go-to choice for consumers seeking sustainable feedstock solutions in the plastics industry.
Light Naphtha is gaining significant traction in the Renewable Naphtha Market as a feed for H2 production. This type of naphtha is a valuable source of hydrogen, a crucial component for fuel cell technology and other industrial applications. Light naphtha offers a sustainable and efficient alternative to traditional fossil fuel-based sources of hydrogen, reducing the carbon footprint of H2 production. The high purity and cost-effectiveness of light naphtha make it the trending choice for consumers seeking sustainable hydrogen feedstock solutions.
The European renewable naphtha market is thriving due to its high demand in renewable energy applications, including transportation fuels and chemicals. Germany, France, and the United Kingdom lead the market with their advanced manufacturing capabilities and innovative technologies, making Europe a key player in the global renewable naphtha industry.
The Asian market, including countries like China, India, and Japan, is witnessing rapid growth in the renewable naphtha market. The region’s increasing demand for sustainable energy and the implementation of renewable energy policies have contributed to the rising demand for renewable naphtha. The increasing focus on product development and the cost-competitive advantages of the region make Asia an attractive market for renewable naphtha manufacturers and investors. Businesses in the Asia Pacific region are increasingly adopting sustainability goals and commitments to reduce their environmental impact. For example, the Japanese multinational company, Toshiba, has set a goal to achieve net-zero greenhouse gas emissions by 2050. Many other companies in the region are also making similar commitments. These sustainability goals are driving the demand for Renewable Naphtha as a sustainable and eco-friendly fuel source.
The renewable naphtha market in North America is poised for rapid growth, driven by technological innovations and increased investments in the sector. With advancements in bio-refining technology and increased R&D efforts, renewable naphtha is becoming more cost-effective and efficient, making it a viable alternative to traditional fossil fuels. Investments in the renewable naphtha sector are also on the rise, with a growing number of companies entering the market and expanding their production capabilities. This is expected to drive down costs and increase the availability of renewable naphtha, making it more accessible to a wider range of industries.
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Research Scope/Taxonomy
Market Analysis by Product Type:
Market Analysis by Application:
Market analysis by region:
Key Companies Profiled
1.1. Global Market Snapshot
1.2. Key Success Factors
1.3. Strategic Analysis and Recommendations
2.1. Market Taxonomy
2.2. Market Definitions
3.1. Preliminary Investigation & Research Design
3.2. Secondary Research & Primary Research
3.3. Data Analysis & Econometric Modelling
3.4. Expert Data Validation
4.1. Supply-Side Trends
4.2. Demand-Side Trends
5.1. Global Market Value (US$ Mn) Analysis, 2017 – 2032
5.2. Incremental $ Opportunity Index, 2022-2032
5.3. Global Market Volume (Tons) Analysis, 2017 – 2032
6.1. Regional Level Pricing Analysis and Forecast
6.1.1. Manufacturers Level Pricing
6.1.2. Distributor Level Pricing
6.2. Global Pricing Analysis Benchmark
6.3. Cost Breakdown Analysis
7.1. Cross Analysis of Product Type W.R.T. Application
8.1. Regional Supply Vs. Demand Gap Assessment
8.2. Top Producing Countries Analysis
9.1. Macroeconomic Factors
9.2. Forecast Factors
9.3. Market Dynamics
9.3.1. Driver
9.3.2. Restraint
9.3.3. Opportunity
9.4. Supply Chain Analysis
9.4.1. List Raw Material Suppliers
9.4.2. List of Manufacturers
9.4.3. List of Distributors
9.4.4. List of End-Users
9.4.5. End-Users Consumption Analysis
9.4.6. Average Profitability Margin Analysis
9.5. Covid-19 Impact Assessment
9.5.1. Economy/Cluster Projections
9.5.2. Covid-19 Economic Assessment
9.5.3. Impact on Target Market
9.5.4. Recovery Scenario
9.6. Regulatory Framework
9.6.1. Regulations of Key Countries
9.6.2. Potential Impact of Regulations
9.7. Porter’s Five Forces Analysis
9.8. Technology Landscape
10.1. Introduction
10.2. Key Market Trends
10.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Product Type [Value (US$ Mn) and Volume (Tons) Analysis]
10.3.1. Light Naphtha
10.3.2. Heavy Naphtha
10.4. Market Attractiveness Analysis by Product Type
11.1. Introduction
11.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Application [Value (US$ Mn) and Volume (Tons) Analysis]
11.2.1. Fuel Blending
11.2.2. Feed for H2 Production
11.2.3. Feed for Plastics Production
11.2.3.1. Ethylene
11.2.3.2. Propylene
11.2.3.3. Butadiene
11.2.3.4. Others
11.3. Market Attractiveness Analysis by Application
12.1. Introduction
12.2. Key Market Trends
12.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. Asia-Pacific
12.3.5. Middle East
12.3.6. Africa
12.4. Market Attractiveness Analysis by Region
13.1. Introduction
13.2. Key Market Trends
13.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
13.3.1. By Country
13.3.1.1. U.S.
13.3.1.2. Canada
13.3.2. By Product Type
13.3.3. By Application
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Product Type
13.4.3. By Application
14.1. Introduction
14.2. Key Market Trends
14.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
14.3.1. By Country
14.3.1.1. Brazil
14.3.1.2. Mexico
14.3.1.3. Rest of Latin America
14.3.2. By Product Type
14.3.3. By Application
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Product Type
14.4.3. By Application
15.1. Introduction
15.2. Key Market Trends
15.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
15.3.1. By Country
15.3.1.1. Germany
15.3.1.2. Italy
15.3.1.3. France
15.3.1.4. UK
15.3.1.5. Spain
15.3.1.6. Netherlands
15.3.1.7. Norway
15.3.1.8. Russia
15.3.1.9. Rest of Europe
15.3.2. By Product Type
15.3.3. By Application
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Product Type
15.4.3. By Application
16.1. Introduction
16.2. Key Market Trends
16.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
16.3.1. By Country
16.3.1.1. China
16.3.1.2. Japan
16.3.1.3. South Korea
16.3.1.4. India
16.3.1.5. Indonesia
16.3.1.6. Thailand
16.3.1.7. Vietnam
16.3.1.8. Australia & New Zealand
16.3.1.9. Rest of Asia-Pacific
16.3.2. By Product Type
16.3.3. By Application
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Product Type
16.4.3. By Application
17.1. Introduction
17.2. Key Market Trends
17.3. Pricing Analysis
17.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
17.4.1. By Country
17.4.1.1. Saudi Arabia
17.4.1.2. Turkey
17.4.1.3. U.A.E.
17.4.1.4. Rest of the Middle East
17.4.2. By Product Type
17.4.3. By Application
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Product Type
17.5.3. By Application
18.1. Introduction
18.2. Key Market Trends
18.3. Pricing Analysis
18.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
18.4.1. By Country
18.4.1.1. South Africa
18.4.1.2. Nigeria
18.4.1.3. Egypt
18.4.1.4. Rest of Africa
18.4.2. By Product Type
18.4.3. By Application
18.5. Market Attractiveness Analysis
18.5.1. By Country
18.5.2. By Product Type
18.5.3. By Application
19.1. Tier Structure Breakdown
19.2. Market Share Analysis
19.3. Product Type Capacity Analysis
19.4. Company Footprint Analysis
19.4.1. Product Footprint of Players
19.4.2. Regional Footprint of Players
19.4.3. Channel Footprint of Players
19.5. Brand Preference Analysis
19.6. Competition Dashboard
20.1. Neste
20.1.1. Company Overview
20.1.2. Product & Financial Portfolio
20.1.3. Manufacturing Facilities
20.1.4. Recent Developments
20.1.5. SWOT Analysis
20.1.6. Strategy Overview
20.2. ENI
20.3. Darling Ingredients Inc.
20.4. CNPC
20.5. Diamond Green Diesel
20.6. Renewable Energy Group, Inc.
20.7. Marathon Petroleum Corp.
20.8. Preem
20.9. Phillips 66
20.10. UPM Biofuels