Renewable Naphtha Market Overview
According to a research survey conducted by ChemView Consulting, the current valuation of the Global Renewable Naphtha Market is worth US$ 490.7 Mn in 2022. The market value of stainless steel is expected to reach US$ 1,216.1 Mn by 2032, growing at a CAGR of 9.5% over the forecast period.
Renewable naphtha is a byproduct that refineries currently make when they turn renewable feedstock into diesel. It is an intermediary product that can be converted to gasoline, polymers, or feedstock to manufacture hydrogen.
ChemView Consulting has analyzed that rising production and vehicle fleets drive demand for renewable naphtha. After the economic slump brought on by COVID-19, global vehicle production is increasing steadily. Crude oil is the source of traditional fuels like gasoline and diesel used in automobiles. When these fuels are used, toxic pollutants, including NOx, SOx, CO2, and other greenhouse gases, are released into the atmosphere, endangering the environment and ecosystem. A fantastic alternative to fossil fuels, renewable naphtha mixed fuel emits fewer hazardous emissions than traditional fossil fuels.
The market for renewable naphtha is expected to be dominated by the light naphtha segment, which is expected to account for 92.8% of the market. Sales of light renewable naphtha will continue to benefit from the growing desire for eco-friendly alternatives to plastic and the rising demand for bio-based materials. Manufacturers in the renewable naphtha market are investing in research and development to bring new goods to call for various applications, given the nature of the product and scope of use.
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Segments Covered in Report
- Light Naphtha
- Heavy Naphtha
- Fuel Blending
- Feed for H2 Production
- Feed for Plastics Production
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Renewable Naphtha Market
- Based on the type, the market for renewable naphtha is expected to be dominated by the light naphtha segment, which is expected to account for 92.8% of the market.
- Based on the application, about 72.9% of the market for renewable naphtha is anticipated to be accounted for the segment used as feed to manufacture plastic.
- A market share of 33.33% for renewable naphtha in Europe is anticipated for Germany. Several companies in Germany are increasing their production capacity to meet the rising demand for renewable naphtha.
Key companies covered in the market study are Neste, ENI, Darling Ingredients Inc., CNPC, Diamond Green Diesel, Renewable Energy Group, Inc., Marathon Petroleum Corp., Preem, Phillips 66, and UPM Biofuel.
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Report Key Highlights
- Detailed information on factors that will assist Global Renewable Naphtha’s growth during the next ten years
- Assessment of the historical and current Global Renewable Naphtha Market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
- The growth of the market across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa
- Segment-wise, country-wise, and region-wise market analysis
- Key drivers, restraints, opportunities, and key emerging trends impacting market growth
- Predictions on critical supply, demand, and technological trends and changes in consumer behavior
- Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies
About ChemView Consulting
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