Renewable Naphtha Market

Discover the latest market trends and opportunities in the Renewable Naphtha market, including growth projections and industry challenges

Rising Focus on Sustainable Energy Driving Market Expansion

Category: Oil & Gas Published Date : Feb-23 ID: CVC-22487 Format: PDF Pages: 275

Report Highlights

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.

Key Market Trends

The Rise of Circular Economy in Renewable Naphtha Production

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.

Digitalizing the Renewable Naphtha Supply Chain: Revolutionizing the Industry

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.

Market Drivers

Increasing Demand for Sustainable Products Drives Renewable Naphtha Market

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.

Favorable Government Policies and Incentives Boost Renewable Naphtha Market

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.

Segmentation Insights

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.

Most Popular (Fastest Growth Rate)

Light Naphtha (Fuel Blending)

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.

Most Selling (Largest Market Share)

Heavy Naphtha (Feed for Plastics Production)

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.

Trending (Gaining Traction)

Light Naphtha (Feed for H2 Production)

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.

Regional Insights

Europe: A Dominant Market with High Demand in Renewable Energy

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.

Asia: A Growing Market with Increasing Demand for Sustainable Energy

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.

Technological Innovations and Investments to Drive North America’s Renewable Naphtha Market

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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Report Includes

Research Scope/Taxonomy
Market Analysis by Product Type:

  • Light Naphtha
  • Heavy Naphtha

Market Analysis by Application:

  • Fuel Blending
  • Feed for H2 Production
  • Feed for Plastics Production
  • ?Ethylene
  • ?Propylene
  • ?Butadiene
  • ?Others

Market analysis by region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Middle East & Africa
  • East Asia
  • South Asia & Pacific

Analyst Credentials

Key Companies Profiled

  • Neste
  • ENI
  • Darling Ingredients Inc.
  • CNPC
  • Diamond Green Diesel
  • Renewable Energy Group, Inc.
  • Marathon Petroleum Corp.
  • Preem
  • Phillips 66
  • UPM Biofuels

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 Ethylene Propylene Butadiene 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 U.S. 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 Brazil Mexico 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 Germany Italy France UK Spain Netherlands Norway Russia 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 China Japan South Korea India Indonesia Thailand Vietnam Australia & New Zealand 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 Saudi Arabia Turkey U.A.E. 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 South Africa Nigeria Egypt 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