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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Key Trends in the Market
Naphtha is a flammable liquid hydrocarbon mixture, and bio naphtha refers to naphtha produced by the hydro treatment of the renewable sources. It consists of mainly paraffin and is obtained from exhausted food oils, vegetable oils, or any organic waste such as petroleum distillates. They are used as a feedstock for petrochemical crackers.
- The key drivers of the bio naphtha market are the rising demand for home decor materials, consumer electronics and automotive vehicles. The promotion of bio-based petrol and diesel by governments worldwide is also helping in the upsurge of demand in the market.
- Several experiments highlight the progress made in the cracking of naphtha, which is a key trend in the bio naphtha market. The demand for increased light olefin yields has encouraged the study of steam cracking of renewable naphtha and also paved new roads in the market, helping in the overall growth of the market globally.
- Strict implementation of government policies regarding pollution, fuel blending practices, and fuel composition by regulatory bodies has encouraged the majority of the population to accept the use of renewable fuels such as bio naphtha. These developments will increase the growth of the bio naphtha market year-over-year at a fast rate.
- Increase in adoption of advanced technology such as NExBTL helps in the production of bioplastics which in turn can be used in industries that use renewable raw materials like automotive industries. Bioplastics can be recycled with conventional fossil-based plastic products, and then used in energy generation as a fuel.
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
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+91-858-608-1494
Philippines
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+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