Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 870 Million | USD 2755 Million | 15.5% | 2022 |
FrequentlyAsked Questions
A by-product of the manufacturing of Hydrotreated Vegetable Oil (HVO), also known as renewable diesel and Sustainable Aviation Fuel (SAF), is bio-based naphtha (bio-naphtha). Gasification can also be used to create it as a stand-alone product. When mixing gasoline or making sustainable plastic, bio-naphtha can be utilized as a direct replacement for fossil-based naphtha.
The global bio-based naphtha market trends will be impacted by a sharp rise in demand for bioplastics. A petrochemical feedstock called bio-naphtha serves as a building block for the chemicals and aromatics needed to make polyester and other packaging materials. Businesses have been inspired to create new goods as a result of the need for single-use packaging solutions. Using these materials is intended to accelerate biodegradation rates. Additionally, increasing efforts will support the development and acceptance of sustainable solutions.
According to the report, the global bio-based naphtha market size was worth around USD 870 million in 2022 and is predicted to grow to around USD 2755 million by 2030.
The global Bio-based Naphtha market is expected to grow at a CAGR of 15.5% during the forecast period.
The global Bio-based Naphtha market growth is expected to be driven by Europe. It is currently the world’s highest revenue-generating market due to the growing circular economy initiatives.
The global Bio-based Naphtha market is dominated by players like Royal DSM N.V., Diamond Green Diesel (DGD), Eni Sustainable Mobility, Gevo, Inc, Honeywell, Ineos Group Limited, LyondellBasell Industries Holdings B.V., Euglena Co., Ltd., Forge Hydrocarbons Corporation, Galp Energia, SGPS, S.A., Fuenix Ecogy, Eco Environmental, Dow, Inc., Kaidi, Neste Oyj, Nordic ElectroFuel, Phillips 66, Preem AB, Repsol S.A., Resynergi, Inc, SABIC, Shell, St1 Oy, TotalEnergies Corbion, UPM Biofuels and Versalis SpA among others.
The Bio-based Naphtha market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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