Summary

Bio-based Naphtha Market Size
The global bio-based naphtha market size was valued at $1,276.67 million in 2024 and is projected to reach $3,411.54 million by 2030, growing at a CAGR of 17.8% during the forecast period.

Bio-based Naphtha Market Overview
Bio-based naphtha is a renewable alternative to traditional fossil-fuel-derived naphtha, produced from biomass sources such as agricultural residues, vegetable oils, and other organic materials. It serves as a versatile feedstock in the chemical industry, used for the production of plastics, synthetic rubbers, and other petrochemical products. The process of creating bio-based naphtha involves converting biomass through various chemical and biochemical processes, resulting in a product with similar properties to conventional naphtha but with a significantly lower carbon footprint. This renewable feedstock is gaining attention due to its potential to reduce greenhouse gas emissions, decrease reliance on fossil fuels, and contribute to a more sustainable and circular economy. Bio-based naphtha is also used in the production of biofuels, further enhancing its role in the transition towards greener energy solutions.

Bio-based Naphtha Market Dynamics
• The bio-based naphtha market is expected to witness significant growth in the future due to rising demand for sustainable and eco-friendly alternatives to fossil fuels, increasing government regulations and incentives for renewable energy sources, and the growing adoption of bio-based chemicals in various industries.
• Additionally, the advances in biotechnology and bio-refining processes and rising consumer awareness and preference for green products are the prominent factors driving the growth of the market.
• However, the high production costs compared to conventional naphtha and limited availability of feedstock for bio-based naphtha production are restraining the market growth.
• On the contrary, the development of cost-effective production technologies and expansion of bio-based naphtha applications in new industries are creating opportunities for market growth.

By Source, the Vegetable Oil Segment Constitutes Immense Share with Bio-based Naphtha Market
The vegetable oil segment holds a significant share within the bio-based naphtha market owing to the increasing need for sustainable and renewable alternatives to fossil-fuel-based products. Vegetable oils provide a readily available and abundant biomass feedstock that can be efficiently converted into bio-based naphtha through established chemical and biochemical processes. This aligns with the growing global emphasis on reducing carbon emissions and environmental impact, as bio-based naphtha offers a lower carbon footprint compared to its fossil-fuel counterpart. Additionally, vegetable oil-derived naphtha is gaining traction in the production of bio-based plastics and chemicals, which are in high demand due to consumer preference for eco-friendly products and stringent regulatory policies promoting sustainability. The versatility of vegetable oil as a feedstock, combined with advancements in bio-refining technologies, enhances the economic viability and scalability of bio-based naphtha production. Furthermore, the agricultural sector's capacity to supply large volumes of vegetable oil supports a consistent and reliable source of raw material, further propelling the market growth for bio-based naphtha in this segment.

By Geography, Europe is Projected to Show Strong Presence in the Bio-based Naphtha Market
Europe is anticipated to show a robust presence during the forecast period. European Union policies, such as the European Green Deal and the Renewable Energy Directive, promote the use of renewable and bio-based materials, creating a favorable market environment for bio-based naphtha. Additionally, Europe has a well-developed infrastructure for renewable energy and bio-refining technologies, facilitating the efficient production and integration of bio-based naphtha into various industrial processes. The automotive and chemical industries in Europe are increasingly adopting bio-based naphtha to produce bio-plastics and other sustainable materials, in response to consumer demand for eco-friendly products and corporate sustainability goals. Furthermore, Europe’s strong agricultural sector provides a steady supply of biomass feedstocks, such as vegetable oils, which are essential for producing bio-based naphtha. This combination of regulatory support, technological advancement, and availability of raw materials significantly drives the demand for bio-based naphtha in the European market.

Key Target Audience:
• Renewable Energy Firms
• Automotive Industry
• Agricultural Industry
• Government and Regulatory Bodies
• Research and Development Institutions
• Environmental Organizations
• Consumer Goods Companies

List of the Key Players Profiled in the Report Includes:
• Dow Inc.
• Eni Sustainable Mobility
• Fuenix Ecogy
• Gevo Inc
• Honeywell
• Neste Oyj
• Nordic ElectroFuel
• Preem AB
• Repsol S.A.
• Royal DSM N.V.
• SABIC
• TotalEnergies

Recent Developments:
• In May 2024, Honeywell announced transformational new naphtha to ethane and propane (NEP) process designed to enhance the efficiency of light olefin production and reduce CO2 emissions per metric ton of olefin produced globally. Ethane and propane serve as ideal feedstocks for producing ethylene and propylene, which are crucial petrochemicals used in the manufacturing of chemicals, plastics, and fibers. This innovation highlights Honeywell's commitment to aligning its portfolio with three significant megatrends, including the energy transition.

Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Source:
• Biomass
• Vegetable Oil

Market by, Downstream Application:
• Bio-PE
• Bio-PP
• Bio-PVC

Market by, Application:
• Gasoline
• Petrochemical
• Chemicals
• Fertilizers
• Construction
• Bio Benzene
• Bio Pheno
• Other Applications

Market by, Geography:
The bio-based naphtha market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:
• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:
The report “Global Bio-based Naphtha Market: Industry Analysis, Opportunities and Forecast up to 2030” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:
• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

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Table of Contents

1 Market Introduction
1.1 Market Definition
1.2 Research Scope and Segmentation
1.3 Stakeholders
1.4 List of Abbreviations

2 Executive Summary

3 Research Methodology
3.1 Identification of Data
3.2 Data Analysis
3.3 Verification
3.4 Data Sources
3.5 Assumptions

4 Market Dynamics
4.1 Market Drivers
4.2 Market Restraints
4.3 Market Opportunities
4.4 Market Challenges

5 Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry in the Market

6 Global Bio-based Naphtha Market by, Source
6.1 Overview
6.2 Biomass
6.3 Vegetable Oil

7 Global Bio-based Naphtha Market by, Downstream Application
7.1 Overview
7.2 Bio-PE
7.3 Bio-PP
7.4 Bio-PVC

8 Global Bio-based Naphtha Market by, Application
8.1 Overview
8.2 Gasoline
8.3 Petrochemical
8.3.1 Ethylene
8.3.2 Propylene
8.3.3 Butadiene
8.4 Chemicals
8.5 Fertilizers
8.6 Construction
8.7 Bio Benzene
8.8 Bio Pheno
8.9 Other Applications

9 Global Bio-based Naphtha Market by, Geography
9.1 Overview
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 France
9.3.3 UK
9.3.4 Italy
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 South Korea
9.4.5 Australia
9.4.6 New Zealand
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Brazil
9.5.2 Argentina
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 UAE
9.6.2 Saudi Arabia
9.6.3 Qatar
9.6.4 Iran
9.6.5 South Africa
9.6.6 Rest of Middle East & Africa

10 Key Developments

11 Company Profiling
11.1 Dow Inc.
11.1.1 Business Overview
11.1.2 Product/Service Offering
11.1.3 Financial Overview
11.1.4 SWOT Analysis
11.1.5 Key Activities
11.2 Eni Sustainable Mobility
11.3 Fuenix Ecogy
11.4 Gevo Inc
11.5 Honeywell
11.6 Neste Oyj
11.7 Nordic ElectroFuel
11.8 Preem AB
11.9 Repsol S.A.
11.10 Royal DSM N.V.
11.11 SABIC
11.12 TotalEnergies