DUBLIN, Nov. 21, 2023 /PRNewswire/ — The “Bio-Based Naphtha: Global Markets” report has been added to ResearchAndMarkets.com’s offering.
The global market for bio-based naphtha was estimated to be worth $1.4 billion in 2022. The market is projected to grow at a compound annual growth rate (CAGR) of 18.3% from 2023 to 2028, and it is expected to reach $3.9 billion by 2028.
Bio-based naphtha can help enterprises in adhering to these rules and bolster their reputations for sustainability. Similar to conventional naphtha, bio-based naphtha is primarily used as a feedstock for petrochemical crackers or as a component in gasoline blending. Overall, the need for bio-based naphtha is fueled by the aim of building a more environmentally friendly and sustainable economy, increasing energy security, and satisfying consumer demand for eco-friendly goods and materials.
In this report, the global market’s bio-based naphtha has been segmented based on source, application and geography. The major oil producers are constantly battling to become more sustainable to maintain their dominance in the developing market for more sustainable fuels. They use funding schemes and technological advancements that will boost demand for bio-based naphtha. For instance, in 2021, Mitsui Chemicals, a Japanese petrochemical producer, signed an agreement to buy bio-naphtha from a biofuel producer, Neste, and a Japanese trading company, Toyota Tsusho, as part of its measures to meet its 2050 decarbonization goal. The used cooking oil (UCO) segment currently dominates the market with a value of $479.0 million in 2022. It is estimated the UCO source segment will expand at a CAGR of 18.2%, and it is predicted to reach $1.3 billion by 2028.
Five geographical regions have been identified for the bio-based naphtha market: North America, Asia-Pacific, Europe, the Middle East and Africa, and Latin America. In 2022, the global market for bio-based naphtha was dominated by Europe. The Europe bio-based naphtha market generated $734.2 million in revenue in 2022, holding 52.0% of the global market. A few of the main factors propelling the North American market are the existence of several domestic and foreign companies, the accessibility of resources, technological advancements, and the spike in demand for biopolymers. The North America market for bio-based naphtha was estimated to be worth $336.8 million in 2022. It is anticipated that this market will develop at a CAGR of 18.1% and reach $924.8 million by 2028.
The report analyzes the global bio-based naphtha market based on the segmentation of source and application. These segmentations are further analyzed at the global and regional levels.
Key Report Highlights:
- 133 data tables and 27 additional tables
- A comprehensive overview of the global market for bio-based naphtha (bio-naphtha)
- Analyses of the global market trends, with market revenue (sales figures) for 2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Understanding of the upcoming market potential for bio-based naphtha, assessment of the global bioplastics and biofuels markets, and areas of focus to forecast this market for bio-naphtha into various segments and sub-segments
- Estimation of the actual market size and revenue forecast for global bio-based naphtha market in USD million values, and corresponding market share analysis based on the source of feedstock, application, and region
- In-depth information (facts and figures) concerning the major factors influencing the demand for bio-based naphtha market (opportunities, drivers and challenges) with respect to specific growth trends, upcoming prospects, and contributions to the overall market
- Market outlook and assessment of the renewable diesel and sustainable aviation fuels markets, increasing R&D activities in bio-naphtha, pricing, consumption and estimated production capacities
- A look at the recent market trends, regulatory concerns, and ESG (Environmental, Social, and Governance) developments in global bio-based naphtha market
- Review of the key patent grants and recent patent applications on bio-based naphtha market, with emphasis on emerging technologies and new developments within the bio-based naphtha industry
- A look at the main producers of bioplastics and biofuels, and analyze the structure of bio-based naphtha industry (e.g., market shares, concentration, and recent merger and acquisition (M&A) activities etc.)
- Identification of the key players operating in the market, and analysis of their competitive landscape based on recent developments, segmental revenues, and operational integration
- Descriptive company profiles of the leading global players of the industry, including Eni, Diamond Green Diesel, Neste, Preem, Repsol and UPM Biofuels
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
- Introduction to Bio-Based Naphtha
- Organic Waste as Feedstock
Chapter 4 Market Dynamics
Chapter 5 Market Breakdown by Source
- Market for Bio-Based Naphtha by Source
- Market Size and Forecast
- Biomass
- Vegetable Oil
- Used Cooking Oil
- Animal Fat
- Other Sources
Chapter 6 Market Breakdown by Application
- Market for Bio-Based Naphtha by Application
- Market Size and Forecast
- Gasoline
- Plastic Production
Chapter 7 Market Breakdown by Region
Chapter 8 Sustainability in the Bio-Based Naphtha Industry: An ESG Perspective
- Importance of ESG in the Bio-Based Naphtha Industry
- ESG Ratings and Metrics: Understanding the Data
- ESG Practices in the Bio-Based Naphtha Industry
- ESG Carbon Footprint Issue Analysis
- Regulatory and Sustainability Programs
- Current Status of ESG in the Market for Bio-Based Naphtha
- Case Studies: Examples of Successful ESG Implementation
- Future of ESG: Emerging Trends and Opportunities
- Concluding Remarks
Chapter 9 Emerging Technologies
- Highlights, Overview and Summary
- Market Trends: Bio-Based Naphtha
- New Product and Technology Development
Chapter 10 Mergers and Acquisitions
Chapter 11 Competitive Landscape
Chapter 12 Company Profiles
- Chevron Renewable Energy Group
- Diamond Green Diesel
- Eni S.P.A.
- Neste Oyj
- Preem
- Repsol
- Shell
- Totalenergies
- UPM Biofuels
For more information about this report visit https://www.researchandmarkets.com/r/tw26j4
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