Renewable Naphtha Market by Product Type, End-Users, and Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2030

Description

Persistence Market Research has recently conducted an in-depth analysis of the Renewable Naphtha Market, providing a comprehensive report on the global landscape. This report offers key insights into market dynamics, trends, opportunities, and challenges, offering a detailed overview of the market structure. The research publication presents exclusive data and statistics, projecting the anticipated growth trajectory of the Renewable Naphtha Market from 2023 to 2030.

The renewable naphtha market is expected to grow steadily, with a projected compound annual growth rate (CAGR) of 12.4%. This expansion will see its value rise from US$4.2 billion in 2023 to reach US$9.6 billion by the conclusion of 2030.

Key Insights:

Renewable Naphtha Market Size (2023E): US$4.2 Bn

Projected Market Value (2030F): US$9.6 Bn

Global Market Growth Rate (CAGR 2023 to 2030): 12.4%

Historical Market Growth Rate (CAGR 2018 to 2022): 10.6%

Renewable Naphtha Market - Report Scope

The global renewable naphtha market is a dynamic sector within the energy industry, focusing on environmentally friendly alternatives to traditional naphtha derived from fossil fuels. Produced through advanced bio-refining methods utilizing feedstocks like waste materials, phytoplankton, or agricultural residues, this sustainable derivative plays a vital role in various sectors, including transportation and petrochemicals. Its compatibility with the global shift towards reducing carbon footprints and adopting greener energy sources underscores its significance. At the core of its importance is the potential to revolutionize the petrochemical industry by offering an eco-friendly substitute without compromising efficiency or functionality. Several factors drive the expansion of this market. Heightened environmental awareness and stringent regulations promoting sustainability are pushing businesses towards renewable naphtha adoption. Technological advancements in bio-refining have improved cost-effectiveness, while growing concerns over air quality and climate change amplify the demand for cleaner fuels. Collaborations among industry leaders and government-backed initiatives supporting renewable energy sources play pivotal roles in fostering innovation and steering the market towards a sustainable and resilient future.

Market Growth Drivers

Amidst the dynamic landscape of the global renewable naphtha market, one pivotal factor stands out: stringent environmental regulations. Governments worldwide are increasingly recognizing the urgent need to address climate change and curb carbon emissions, leading to the implementation of comprehensive regulations aimed at promoting sustainability across various industries. In this regulatory framework, the renewable naphtha market plays a crucial role in mitigating the environmental impact associated with conventional fossil fuels. Backed by global agreements and treaties, environmental regulations compel industries to reevaluate their practices and transition to more sustainable alternatives. Renewable naphtha, sourced from environmentally friendly materials like agricultural residues, plays a key role in meeting these regulatory demands. Government initiatives such as stringent emission regulations, carbon pricing systems, and renewable energy targets create a favorable environment for the growth of the renewable naphtha sector.

Notably, regions prioritizing environmental concerns have witnessed significant transformations. For instance, European countries have taken the lead in implementing policies incentivizing the adoption of renewable energy sources. The European Union's Renewable Energy Directive sets ambitious targets for the share of renewable energy in the overall energy mix, highlighting the region's commitment to sustainable practices.

Market Restraints

While the global renewable naphtha market holds promise for a sustainable future, it faces significant obstacles, particularly in overcoming technological barriers to production. The intricate processes involved in converting sustainable feedstocks into high-quality naphtha present challenges that require innovative solutions. A key challenge lies in the scalability and efficiency of bio-refining techniques. Transitioning from fossil-based to renewable naphtha requires the deployment of advanced technologies to ensure both ecological sustainability and economic feasibility. Issues such as achieving and maintaining cost competitiveness while consistently delivering high yields hinder widespread adoption of renewable naphtha. Moreover, cost competitiveness and economic viability are significant concerns for the renewable naphtha market. Despite its environmental advantages, the production of renewable naphtha often entails higher expenses compared to conventional fossil-based alternatives, posing a major barrier to its widespread use. Achieving cost parity with fossil fuel-derived naphtha is a critical challenge. The procurement, refining, and conversion of bio-based feedstocks into renewable naphtha require substantial investments in technology and infrastructure due to their complex nature. This can result in increased production costs, impacting the market's competitiveness purely from an economic perspective.

Opportunities

An unprecedented catalyst driving the global renewable naphtha market is the surging demand for sustainable aviation fuel (SAF). As the aviation sector seeks to curb carbon emissions, renewable naphtha emerges as a crucial component in SAF development, offering a lucrative avenue for market expansion. Historically challenged by decarbonization efforts, the aviation industry is under increasing pressure to adopt sustainable practices. With global obligations to reduce greenhouse gas emissions, airlines are actively exploring the feasibility of SAF as an alternative to traditional aircraft fuels, with derivatives of renewable naphtha from bio-based sources presenting a viable solution. Renewable naphtha shares similar chemical properties with conventional aviation fuel, making it a seamless substitute requiring minimal adjustments to existing aircraft and infrastructure. The International Air Transport Association (IATA) forecasts a significant rise in SAF demand in the coming years. Environmental advocates, governments, and airlines are advocating for the incorporation of SAF into aviation fuel blends, presenting renewable naphtha with a substantial market opportunity. Airlines are increasing investments in SAF to enhance their environmental credentials and meet emissions reduction targets, with renewable naphtha positioned as a key facilitator in achieving these sustainability goals.

Key Questions Answered in Report::

What is the current size and forecasted growth rate of the global renewable naphtha market?
What are the primary drivers and challenges affecting the growth of the renewable naphtha market?
What are the key technological advancements and innovations influencing renewable naphtha production?
What are the main sources of feedstock utilized in the production of renewable naphtha?
How does renewable naphtha compare to conventional naphtha in terms of cost, efficiency, and environmental impact?
What are the regulatory frameworks governing the production and usage of renewable naphtha across different regions?

Competitive Intelligence and Business Strategy

Prominent players in the fiercely competitive global renewable naphtha market, such as Neste Corporation, UPM Biofuels, and Amyris Inc., employ diverse strategies to bolster and expand their market presence. Central to their approach is a strong focus on innovation. These companies invest significantly in research and development to enhance the efficiency of their renewable naphtha production processes. By leveraging cutting-edge technologies, they can reduce production costs while simultaneously improving product yield and quality. Their unwavering commitment to innovation positions them at the forefront of technological advancements in the renewable energy sector, a key factor in maintaining their dominance in the market. Moreover, these industry leaders actively engage in policy advocacy and formation. They participate in industry forums, contribute to the development of regulatory frameworks, and advocate for policies aligned with their objectives. Their proactive involvement in shaping policy establishes them as influential figures and key stakeholders in the broader discourse on renewable energy, further solidifying their impact on market dynamics. In summary, dominant players achieve market leadership through a combination of strategies, including innovation, strategic partnerships, scalability, sustainability, and active involvement in policy development. By employing this multifaceted approach, they not only strengthen their current market positions but also position themselves as leaders in shaping the future direction of the global renewable naphtha market.

Key Companies Profiled
Neste Oyj
ENI SPA
Darling Ingredients Inc.
CNPC
Diamond Green Diesel
Renewable Energy Group, Inc.
Marathon Petroleum Corp
Preem
Philips 66
UPM Biofuels

Renewable Naphtha Market Segmentation

By Product Type:
Light Naphtha
Heavy Naphtha
By Application:
Fuel Blending
Feed for H2 Production
Feed for Plastics Production
Ethylene
Propylene
Butadiene
Others
By Region:
North America
Europe
East Asia
South Asia & Oceania
Latin America
Middle East & Africa

Product Code: PMRREP33673

1. Executive Summary

1.1. Global Renewable Naphtha Market Snapshot, 2023 and 2030
1.2. Market Opportunity Assessment, 2023 - 2030, US$ Mn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Product Type Lifecycle Analysis
2.4. Global Renewable Naphtha Market: Value Chain
- 2.4.1. List of Raw Product Type Supplier
- 2.4.2. List of Manufacturers
- 2.4.3. List of Distributors
- 2.4.4. List of Vehicle Product Types
- 2.4.5. Profitability Analysis
2.5. Porter Five Force's Analysis
2.6. Geopolitical Tensions: Market Impact
2.7. Macro-Economic Factors
- 2.7.1. Global Sectorial Outlook
- 2.7.2. Global GDP Growth Outlook
- 2.7.3. Global Parent Market Overview
2.8. Forecast Factors - Relevance and Impact
2.9. Regulatory and Technology Landscape

3. Global Renewable Naphtha Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

3.1. Key Highlights
- 3.1.1. Market Volume (Units) Projections
- 3.1.2. Market Size and Y-o-Y Growth
- 3.1.3. Absolute $ Opportunity
3.2. Market Size (US$ Mn) Analysis and Forecast
- 3.2.1. Historical Market Size Analysis, 2013-2016
- 3.2.2. Current Market Size Forecast, 2018-2026
3.3. Global Renewable Naphtha Market Outlook: Product Type
- 3.3.1. Introduction / Key Findings
- 3.3.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Product Type, 2018 - 2022
- 3.3.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
  - 3.3.3.1. Light Naphtha
  - 3.3.3.2. Heavy Naphtha
3.4. Market Attractiveness Analysis: Product Type
3.5. Global Renewable Naphtha Market Outlook: Application
- 3.5.1. Introduction / Key Findings
- 3.5.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Application, 2018 - 2022
- 3.5.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
  - 3.5.3.1. Fuel Blending
  - 3.5.3.2. Feed for H2 Production
  - 3.5.3.3. Feed for Plastics Production
    - 3.5.3.3.1. Ethylene
    - 3.5.3.3.2. Propylene
    - 3.5.3.3.3. Butadiene
    - 3.5.3.3.4. Others
3.6. Market Attractiveness Analysis: Application

4. Global Renewable Naphtha Market Outlook: Region

4.1. Key Highlights
4.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Region, 2018 - 2022
4.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Region, 2023 - 2030
- 4.3.1. North America
- 4.3.2. Europe
- 4.3.3. East Asia
- 4.3.4. South Asia and Oceania
- 4.3.5. Latin America
- 4.3.6. Middle East & Africa (MEA)
4.4. Market Attractiveness Analysis: Region

5. North America Global Renewable Naphtha Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

5.1. Key Highlights
5.2. Pricing Analysis
5.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 5.3.1. By Country
- 5.3.2. By Product Type
- 5.3.3. By Application
5.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 5.4.1. U.S.
- 5.4.2. Canada
5.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 5.5.1. Light Naphtha
- 5.5.2. Heavy Naphtha
5.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 5.6.1. Fuel Blending
- 5.6.2. Feed for H2 Production
- 5.6.3. Feed for Plastics Production
  - 5.6.3.1. Ethylene
  - 5.6.3.2. Propylene
  - 5.6.3.3. Butadiene
  - 5.6.3.4. Others
5.7. Market Attractiveness Analysis

6. Europe Global Renewable Naphtha Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

6.1. Key Highlights
6.2. Pricing Analysis
6.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 6.3.1. By Country
- 6.3.2. By Product Type
- 6.3.3. By Application
6.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 6.4.1. Germany
- 6.4.2. France
- 6.4.3. U.K.
- 6.4.4. Italy
- 6.4.5. Spain
- 6.4.6. Russia
- 6.4.7. Turkiye
- 6.4.8. Rest of Europe
6.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 6.5.1. Light Naphtha
- 6.5.2. Heavy Naphtha
6.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 6.6.1. Fuel Blending
- 6.6.2. Feed for H2 Production
- 6.6.3. Feed for Plastics Production
  - 6.6.3.1. Ethylene
  - 6.6.3.2. Propylene
  - 6.6.3.3. Butadiene
  - 6.6.3.4. Others
6.7. Market Attractiveness Analysis

7. East Asia Global Renewable Naphtha Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 7.3.1. By Country
- 7.3.2. By Product Type
- 7.3.3. By Application
7.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 7.4.1. China
- 7.4.2. Japan
- 7.4.3. South Korea
7.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 7.5.1. Light Naphtha
- 7.5.2. Heavy Naphtha
7.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 7.6.1. Fuel Blending
- 7.6.2. Feed for H2 Production
- 7.6.3. Feed for Plastics Production
  - 7.6.3.1. Ethylene
  - 7.6.3.2. Propylene
  - 7.6.3.3. Butadiene
  - 7.6.3.4. Others
7.7. Market Attractiveness Analysis

8. South Asia & Oceania Global Renewable Naphtha Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 8.3.1. By Country
- 8.3.2. By Product Type
- 8.3.3. By Application
8.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 8.4.1. India
- 8.4.2. Southeast Asia
- 8.4.3. ANZ
- 8.4.4. Rest of South Asia & Oceania
8.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 8.5.1. Light Naphtha
- 8.5.2. Heavy Naphtha
8.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 8.6.1. Fuel Blending
- 8.6.2. Feed for H2 Production
- 8.6.3. Feed for Plastics Production
  - 8.6.3.1. Ethylene
  - 8.6.3.2. Propylene
  - 8.6.3.3. Butadiene
  - 8.6.3.4. Others
8.7. Market Attractiveness Analysis

9. Latin America Global Renewable Naphtha Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 9.3.1. By Country
- 9.3.2. By Product Type
- 9.3.3. By Application
9.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Rest of Latin America
9.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 9.5.1. Light Naphtha
- 9.5.2. Heavy Naphtha
9.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 9.6.1. Fuel Blending
- 9.6.2. Feed for H2 Production
- 9.6.3. Feed for Plastics Production
  - 9.6.3.1. Ethylene
  - 9.6.3.2. Propylene
  - 9.6.3.3. Butadiene
  - 9.6.3.4. Others
9.7. Market Attractiveness Analysis

10. Middle East & Africa Global Renewable Naphtha Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 10.3.1. By Country
- 10.3.2. By Product Type
- 10.3.3. By Application
10.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 10.4.1. GCC
- 10.4.2. Egypt
- 10.4.3. South Africa
- 10.4.4. Northern Africa
- 10.4.5. Rest of Middle East & Africa
10.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 10.5.1. Light Naphtha
- 10.5.2. Heavy Naphtha
10.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 10.6.1. Fuel Blending
- 10.6.2. Feed for H2 Production
- 10.6.3. Feed for Plastics Production
  - 10.6.3.1. Ethylene
  - 10.6.3.2. Propylene
  - 10.6.3.3. Butadiene
  - 10.6.3.4. Others
10.7. Market Attractiveness Analysis

11. Competition Landscape

11.1. Market Share Analysis, 2022
11.2. Market Structure
- 11.2.1. Competition Intensity Mapping By Market
- 11.2.2. Competition Analog IC
- 11.2.3. Apparent Product Capacity
11.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 11.3.1. Neste Oyj
  - 11.3.1.1. Overview
  - 11.3.1.2. Segments and Product
  - 11.3.1.3. Key Financials
  - 11.3.1.4. Market Developments
  - 11.3.1.5. Market Strategy
- 11.3.2. ENI SPA
  - 11.3.2.1. Overview
  - 11.3.2.2. Segments and Product
  - 11.3.2.3. Key Financials
  - 11.3.2.4. Market Developments
  - 11.3.2.5. Market Strategy
- 11.3.3. Darling Ingredients Inc.
  - 11.3.3.1. Overview
  - 11.3.3.2. Segments and Product
  - 11.3.3.3. Key Financials
  - 11.3.3.4. Market Developments
  - 11.3.3.5. Market Strategy
- 11.3.4. CNPC
  - 11.3.4.1. Overview
  - 11.3.4.2. Segments and Product
  - 11.3.4.3. Key Financials
  - 11.3.4.4. Market Developments
  - 11.3.4.5. Market Strategy
- 11.3.5. Diamond Green Diesel
  - 11.3.5.1. Overview
  - 11.3.5.2. Segments and Product
  - 11.3.5.3. Key Financials
  - 11.3.5.4. Market Developments
  - 11.3.5.5. Market Strategy
- 11.3.6. Renewable Energy Group, Inc.
  - 11.3.6.1. Overview
  - 11.3.6.2. Segments and Product
  - 11.3.6.3. Key Financials
  - 11.3.6.4. Market Developments
  - 11.3.6.5. Market Strategy
- 11.3.7. Marathon Petroleum Corp
  - 11.3.7.1. Overview
  - 11.3.7.2. Segments and Product
  - 11.3.7.3. Key Financials
  - 11.3.7.4. Market Developments
  - 11.3.7.5. Market Strategy
- 11.3.8. Preem
  - 11.3.8.1. Overview
  - 11.3.8.2. Segments and Product
  - 11.3.8.3. Key Financials
  - 11.3.8.4. Market Developments
  - 11.3.8.5. Market Strategy
- 11.3.9. Philips 66
  - 11.3.9.1. Overview
  - 11.3.9.2. Segments and Product
  - 11.3.9.3. Key Financials
  - 11.3.9.4. Market Developments
  - 11.3.9.5. Market Strategy
- 11.3.10. UPM Biofuels
  - 11.3.10.1. Overview
  - 11.3.10.2. Segments and Product
  - 11.3.10.3. Key Financials
  - 11.3.10.4. Market Developments
  - 11.3.10.5. Market Strategy

12. Appendix

12.1. Research Methodology
12.2. Research Assumptions
12.3. Acronyms and Abbreviations