The Reports and Insights, a leading market research company, has recently releases report titled “Renewable Naphtha Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Renewable Naphtha Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Renewable Naphtha Market?
The renewable naphtha market size reached US$ 472.4 Million in 2023. Looking forward, Reports and Insights expects the market to reach US$ 1,104.8 Million by 2032, exhibiting a growth rate (CAGR) of 9.9% during 2024-2032.
What are Renewable Naphtha?
Renewable naphtha is a form of naphtha created from sustainable sources like biomass, algae, or waste products using methods such as pyrolysis, gasification, or fermentation. While chemically akin to conventional naphtha from fossil fuels, it serves as a greener alternative. This renewable naphtha can serve as a raw material for manufacturing different chemicals, including plastics, solvents, and fuels, offering a sustainable and eco-friendly substitute to traditional naphtha sourced from crude oil.
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What are the growth prospects and trends in the Renewable Naphtha industry?
The renewable naphtha market growth is driven by various factors. The market for renewable naphtha is experiencing notable growth, fueled by a heightened emphasis on sustainable options within the petrochemical sector. Environmental considerations and regulatory frameworks promoting renewable energy sources are propelling the adoption of renewable naphtha, sourced from biomass, algae, or waste materials. This eco-conscious alternative is increasingly utilized as a raw material for a range of chemicals, including plastics and solvents. Furthermore, advancements in conversion technologies and governmental support for renewable energy are driving further market expansion. Hence, all these factors contribute to renewable naphtha market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Feedstock:
- Vegetable Oils
- Animal Fats
- Algal Biomass
- Other Biomass
By Technology:
- Hydrotreating
- Deoxygenation
- Hydrogenation
By Application:
- Chemicals & Polymers
- Fuels
- Others
By End-Use Industry:
- Petrochemicals
- Transportation
- Others
Segmentation By Region:
North America:
- United States
- Canada
Asia Pacific:
- China
- India
- Japan
- South Korea
- Australia & New Zealand
- Association of Southeast Asian Nations (ASEAN)
- Rest of Asia Pacific
Europe:
- Germany
- The U.K.
- France
- Spain
- Italy
- Russia
- Poland
- BENELUX (Belgium, the Netherlands, Luxembourg)
- NORDIC (Norway, Sweden, Finland, Denmark)
- Rest of Europe
Latin America:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
The Middle East & Africa:
- Saudi Arabia
- United Arab Emirates
- South Africa
- Egypt
- Israel
- Rest of MEA (Middle East & Africa)
Who are the key players operating in the industry?
The report covers the major market players including:
- Neste Corporation
- TotalEnergies
- Repsol S.A.
- Eni S.p.A.
- Honeywell UOP
- Chevron Corporation
- Axens
- INEOS Group AG
- Preem AB
- OMV Aktiengesellschaft
- Enerkem Inc.
- REG Life Sciences LLC
- Clariant AG
- Dow Inc.
- LyondellBasell Industries N.V.
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