Renewable Naphtha Market Size, Share, By Product Type, Feedstock, Application, and Region - Trends, Analysis, and Forecast till 2035

Renewable Naphtha Market Size, Share, By Product Type, Feedstock, Application, and Region - Trends, Analysis, and Forecast till 2035

Renewable naphtha is an intermediary product that converts to gasoline, plastics, or feedstock for hydrogen production. Target market is driven by increasing demand for eco-friendly alternatives for synthetic plastic, consumer preference toward bio-based products. In addition, consumption of renewable naphtha in production of bio plastics & hydrogen, rising concern regarding harmful greenhouse emissions are another factors propelling growth of the global market.

Renewable Naphtha Market Report Highlights:

• Renewable naphtha market size is expected to grow at USD 1749.6 Million by 2035.
• The target market was valued at USD 535.6 Million in 2024.
• Target market is expanding at a CAGR of 13.9%.
• Europe held the largest share of the market in 2024.
• Asia Pacific is projected to be the fastest-growing market in the coming years.
• By product type, the marker is dominated by the light naphtha segment.
• On the basis of feedstock, the used cooking oil segment is leading the market.
• Under application, the fuel bending segment is expected to lead the market during the forecast period.

Renewable Naphtha Market Key Highlights:

• In June 2024, QatarEnergy entered into a long-term agreement to supply ENEOS Corporation, a prominent refining and petrochemical company based in Japan, with up to 9 million tons of Naphtha over 10 years. This agreement is the largest and longest commitment in more than a decade of collaborations between the two companies.
• In April 2024, JX Nippon Oil & Gas Exploration Corporation and Sumitomo Corporation executed consortium agreements to manage investment in the Louisiana Green Fuels BECCS project at Port of Columbia, Caldwell Parish, Louisiana. The Project is developing a sustainable aviation fuel (“SAF”) production plant with renewable Naphtha as a byproduct utilizing woody biomass waste, such as thinning, with the production capacity of 32 million gallons (120,000 kiloliters) per year.

Renewable Naphtha Market Report Analysis:

Analysis for Naphtha from Renewable Feedstock:

For instance, according to research article by TOPSOE, refineries already have access to renewable naphtha, which is advantageous given the growing consumer and regulatory demands for non-fossil fuel sources. A natural by-product of turning renewable feedstock into fuel is naphtha. Bionaphtha can be separated and thermally broken down to produce ethylene and propylene, two basic chemicals required to make plastic, in addition to being utilised as a fuel and feedstock source.

Naphtha is renewable and already produced during the fuel production process, which gives it an edge over other feeds. By selling its renewable naphtha, refiners can increase its value. Because of its paraffinic molecules and low to no oxygen or impurities, renewable naphtha can be used as feed for steam crackers in the plastics industry. It can also be used as feed for H2bridge, an integrated hydrogen unit that converts renewable feed sources into hydrogen with minimal greenhouse gas emissions.

Browse ∼42 market data tables and ∼40 figures through ∼167 slides and in-depth TOC on “Renewable Naphtha Market Size, Share, By Product Type, Feedstock, Application, and Region - Trends, Analysis, and Forecast till 2035”

Renewable Naphtha Market Competitive Landscape:

The key players operating in the renewable naphtha market are World Energy, LLC, PAO NOVATEK, Indian Oil Corporation Ltd., Shell, Chevron, EXXONMOBIL, SABIC, UPM, SolvChem, QatarEnergy, Vinati Organics Limited, and Clean Planet Energy.