Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1.08 Billion | USD 4.60 Billion | 14.2% | 2024 |
FrequentlyAsked Questions
A by-product of the manufacturing of Hydrotreated Vegetable Oil (HVO), also known as renewable diesel and Sustainable Aviation Fuel (SAF), is bio-based naphtha (bio-naphtha). Gasification can also be used to create it as a stand-alone product. When mixing gasoline or making sustainable plastic, bio-naphtha can be utilized as a direct replacement for fossil-based naphtha.
The global bio-based naphtha market is expected to grow due to rising demand for sustainable fuels, stringent environmental regulations, and increasing adoption in bio-plastics and green chemistry applications.
According to a study, the global bio-based naphtha market size was worth around USD 1.08 Billion in 2024 and is expected to reach USD 4.60 Billion by 2034.
The global bio-based naphtha market is expected to grow at a CAGR of 14.2% during the forecast period.
North America is expected to dominate the bio-based naphtha market over the forecast period.
Leading players in the global bio-based naphtha market include Royal DSM N.V., Diamond Green Diesel (DGD), Eni Sustainable Mobility, Gevo Inc, Honeywell, Ineos Group Limited, LyondellBasell Industries Holdings B.V., Euglena Co. Ltd., Forge Hydrocarbons Corporation, Galp Energia, SGPS S.A., Fuenix Ecogy, Eco Environmental, Dow Inc., Kaidi, Neste Oyj, Nordic ElectroFuel, Phillips 66, Preem AB, Repsol S.A., Resynergi Inc, SABIC, Shell, St1 Oy, TotalEnergies Corbion, UPM Biofuels, Versalis SpA, among others.
The report explores crucial aspects of the bio-based naphtha market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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