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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Bio Naphtha Market Share by Source
Bio naphtha is a by-product of hydrogenated vegetable oil and sustainable aviation fuel. Due to the nature of hydrogenated vegetable oil technology it finds wide applications in conventional petroleum refineries. This technology can be easily adapted and used to produce conventional equipment and logistics for ships. It also has low capital costs due to high credit values. These plants are actively spread across North America, Europe and Asia and are slowly expanding in South America too, supporting the growth of the bio naphtha market.
Sustainable aviation fuel acts as a replacement for jet fuel. It is an essential contributing factor to the decarbonisation of the aviation industry. Although it’s still lacking in terms of legislative support from the world, European countries have already made it mandatory to blend sustainable aviation fuel for conventional jets.
Bio Naphtha Market Report Snapshots
Bio Naphtha Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global market size for bio naphtha was estimated to be 645.41 thousand tonnes by volume in 2023.
The expected market size is projected to reach an approximate volume of 3099.02 thousand tonnes by 2032.
The global market for bio naphtha is expected to grow at a CAGR of 19% between 2024 and 2032.
Naphtha is a flammable liquid hydrocarbon mixture. Bio naphtha refers to naphtha produced by the hydro-treatment of renewable sources.
The key drivers of the market are the rising demand for home decor materials, consumer electronics and automotive vehicles, implementation of government policies and technological advancements.
The market for bio naphtha is segmented on the basis of source, end use, distribution channels and regions.
Key market players include Neste Oil, UPM Corporation, Eni S.p.A., Total Energies SE, Royal Dutch Shell Plc, Sunshine Kaidi New Energy Group Co., Ltd., Preem AB, OMV Group, Repsol, S.A., and Phillips 66, among others.
Major regional markets for bio naphtha include North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
Bio naphtha consists of primarily paraffin.
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India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124