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Global Bio Naphtha Market Share, Trends, Research: By Source: HVO (Hydrogenated Vegetable Oil), SAF (Sustainable Aviation Fuel), Others; By End-Use: Petrochemicals, Transportation, Utilities, Others; By Distribution Channels: Direct, Indirect; Regional Analysis; Competitive Landscape; Industry Events and Developments; 2022-2027

Global Bio Naphtha Market Outlook

The global market size for bio naphtha reached an approximate size of 455 thousand tonnes by volume in 2021. The global bio naphtha market is expected to grow at a CAGR of 19.10% between 2022 and 2027, to reach a volume of 1293.2 thousand tonnes by 2027.

 

News and Development in the market

In September 2022, Keenan Recycling, a national food waste recycling business, unveiled its new hybrid vehicle at RWM & Letsrecycle Live in Birmingham. This vehicle replaces fossil diesel fuel with a mixture of hydrotreated vegetable oil (HVO) and hydrogen gas, resulting in a reduction in carbon dioxide emissions. This allows the company to draw further economic and environmental utilisation from food waste.

 

In February 2022, Honeywell UOP, using its Ecofining technology, that it jointly developed with Eni SpA, formulated a process for producing high yields of bio naphtha from bio based feedstock such as cooking oil and animal fats. It claims that this process reduces greenhouse gas and carbon dioxide emissions. 

 

In December 2021, Mitsui Chemicals, a Japanese petrochemical producer, announced that it started producing 3000t of bio naphtha as its contribution to 2050 decarbonisation goal. It plans to combine bio naphtha with conventional naphtha to manufacture bio-petrochemical products, supplementing the global bio naphtha market.

 

In June 2021, Neste announced a long-term agreement with LyondellBasell, one of the world’s largest plastics and chemicals companies. Under the agreement, LyondellBasell would source Neste’s 100% renewable feedstock Neste RE™, made from bio-based sources. The feedstock would be processed by LyondellBasell in Germany to produce polymers under the brand CirculenRenew.


 
In January 2021, UPM BioFuels announced the expansion of its biofuel capabilities, starting the engineering phase of a next generation biorefinery. The new refinery is expected to have an annual production capacity of 500,000 tonnes, scaling up the capabilities of UPM BioFuels. The new biorefinery would introduce multiple sustainable feedstocks and lower CO2 emissions. 

 

Key Trends in the Market

Naphtha is a flammable liquid hydrocarbon mixture, and bio naphtha refers to naphtha produced by the hydro treatment of the renewable sources. It consists of mainly paraffin and is obtained from exhausted food oils, vegetable oils, or any organic waste such as petroleum distillates. They are used as a feedstock for petrochemical crackers. 

 

  • The key drivers of the bio naphtha market are the rising demand for home decor materials, consumer electronics and automotive vehicles. The promotion of bio-based petrol and diesel by governments worldwide is also helping in the upsurge of demand in the market. 
  • Several experiments highlight the progress made in the cracking of naphtha, which is a key trend in the bio naphtha market. The demand for increased light olefin yields has encouraged the study of steam cracking of renewable naphtha and also paved new roads in the market, helping in the overall growth of the market globally.
  • Strict implementation of government policies regarding pollution, fuel blending practices, and fuel composition by regulatory bodies has encouraged the majority of the population to accept the use of renewable fuels such as bio naphtha. These developments will increase the growth of the bio naphtha market year-over-year at a fast rate.
  • Increase in adoption of advanced technology such as NExBTL helps in the production of bioplastics which in turn can be used in industries that use renewable raw materials like automotive industries. Bioplastics can be recycled with conventional fossil-based plastic products, and then used in energy generation as a fuel.  

 

Market Analysis 

Based on source, the global bio naphtha market is divided into hydrogenated vegetable oil (HVO), sustainable aviation fuel (SAF), and others. On the basis of end use the market can be segmented into petrochemicals, transportation, utilities, and others. Based on distribution channels, it is divided into direct and indirect. By region, the market is categorised into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. 

 

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global bio naphtha market, covering their competitive landscape and latest developments.

 

  • Neste Oil
  • UPM BioFuels 
  • Eni
  • Total Energies
  • Royal Dutch Shell
  • Kaidi Finland (Sunshine)
  • Preem
  • OMV
  • Repsol
  • Phillips 66
  • Others

 

Market Share by Source

Bio naphtha is a by-product of hydrogenated vegetable oil and sustainable aviation fuel. Due to the nature of hydrogenated vegetable oil technology it finds wide applications in conventional petroleum refineries. This technology can be easily adapted and used to produce conventional equipment and logistics for ships. It also has low capital costs due to high credit values. These plants are actively spread across North America, Europe and Asia and are slowly expanding in South America too, supporting the growth of the bio naphtha market.

 

Sustainable aviation fuel acts as a replacement for jet fuel. It is an essential contributing factor to the decarbonisation of the aviation industry. Although it’s still lacking in terms of legislative support from the world, European countries have already made it mandatory to blend sustainable aviation fuel for conventional jets. 

 

Market Share by Region

The Asia Pacific has been leading the global bio naphtha market by region because of the rising consumption of plastic by the countries of the region and also due to rapid growth in end-user industries such as petrochemical, transportation and utilities. China, India and Japan are the major countries influencing the market in the Asia Pacific. Technological developments such as increase in chemical factories in China and rise in enhanced distillation methods is another factor influencing the market. 

 

Moreover, Arab Gulf countries also play a major role in global biofuels supply by exporting a large volume of feedstock for bio naphtha, mainly as used cooking oil and hydrogenated vegetable oil. The steady feedstock supply is contributing in the progress of the bio naphtha market regionally and globally. 

 

Competitive Landscape

Neste Oil is the world’s largest producer of renewable diesel and was established in 1948. It is an oil refining and marketing company located in Finland. It is the world’s first company to supply bio naphtha on a commercial scale. It concentrates on low-emission and high-quality traffic fuels for better functioning of society. NExBTL was launched by the company to produce bioplastics that can be beneficially used in various industries. 

 

UPM Biofuels was established in 2015 in Finland and has a strong presence in the bio naphtha market. Its products can be used in place of fossil-fuel raw materials in numerous innovative products such as plastics, glue, and films. UPM BioVerno is a key product line of the company. It assures to be 100% bio-based and offer products with similar properties to fossil-based naphtha. 

 

Eni, a global energy company, was founded in 1953 in Milan, Italy. They work to support changes that create long-term value and provide an opportunity for all to have access to dependable and clean energy. It focuses on issues such as decarbonisation while working to protect the environment. They believe to be getting closer to their goal of decarbonisation by 2040 by providing their clients with decarbonised products and services. 

 

Other market players include Total Energies, Royal Dutch Shell, Kaidi Finland (Sunshine), Preem, OMV, Repsol, Phillips 66 and others. 

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Source
  • End-Use
  • Distribution Channels
  • Region
Breakup by Source
  • HVO (Hydrogenated Vegetable Oil)
  • SAF (Sustainable Aviation Fuel)
  • Others
Breakup by End-Use
  • Petrochemicals
  • Transportation
  • Utilities
  • Others
Breakup by Distribution Channels
  • Direct
  • Indirect
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Price Analysis
  • Historical Price Trends
  • Forecast Price Trends
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Neste Oil
  • UPM BioVerno
  • Eni
  • Total Energies
  • Royal Dutch Shell
  • Kaidi Finland (Sunshine)
  • Preem
  • OMV
  • Repsol
  • Phillips 66
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Bio Naphtha Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Bio naphtha Historical Market (2017-2021) 
    8.3    Global Bio naphtha Market Forecast (2022-2027)
    8.4    Global Bio naphtha Market by Source
        8.4.1    HVO (Hydrogenated Vegetable Oil)
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    SAF (Sustainable Aviation Fuel)
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Others
    8.5    Global Bio naphtha Market by End-Use
        8.5.1    Petrochemicals
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Transportation
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Utilities
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Others
    8.6    Global Bio naphtha Market by Distribution Channels
        8.6.1    Direct
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Indirect
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
    8.7    Global Bio naphtha Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021) 
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021) 
            8.7.2.3    Forecast Trend (2022-2027)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2017-2021) 
            8.7.3.3    Forecast Trend (2022-2027)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2017-2021) 
            8.7.4.3    Forecast Trend (2022-2027)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2017-2021) 
            8.7.5.3    Forecast Trend (2022-2027)
9    North America Bio naphtha Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2017-2021) 
        9.1.3    Forecast Trend (2022-2027)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2017-2021) 
        9.2.3    Forecast Trend (2022-2027)
10    Europe Bio naphtha Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2017-2021) 
        10.1.3    Forecast Trend (2022-2027)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2017-2021) 
        10.2.3    Forecast Trend (2022-2027)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2017-2021) 
        10.3.3    Forecast Trend (2022-2027)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2017-2021) 
        10.4.3    Forecast Trend (2022-2027)
    10.5    Finland
        10.5.1    Market Share
        10.5.2    Historical Trend (2017-2021) 
        10.5.3    Forecast Trend (2022-2027)
    10.6    Netherlands
        10.6.1    Market Share
        10.6.2    Historical Trend (2017-2021) 
        10.6.3    Forecast Trend (2022-2027)
    10.7    Sweden
        10.7.1    Market Share
        10.7.2    Historical Trend (2017-2021) 
        10.7.3    Forecast Trend (2022-2027)
    10.8    Others
11    Asia Pacific Bio naphtha Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2017-2021) 
        11.1.3    Forecast Trend (2022-2027)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2017-2021) 
        11.2.3    Forecast Trend (2022-2027)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2017-2021) 
        11.3.3    Forecast Trend (2022-2027)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2017-2021) 
        11.4.3    Forecast Trend (2022-2027)
    11.5    Others
12    Latin America Bio naphtha Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2017-2021) 
        12.1.3    Forecast Trend (2022-2027)
    12.2    Mexico
        12.2.1    Market Share
        12.2.2    Historical Trend (2017-2021) 
        12.2.3    Forecast Trend (2022-2027)
    12.3    Others
13    Middle East and Africa Bio naphtha Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2017-2021) 
        13.1.3    Forecast Trend (2022-2027)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2017-2021) 
        13.2.3    Forecast Trend (2022-2027)
    13.3    South Africa
        13.3.1    Market Share
        13.3.2    Historical Trend (2017-2021) 
        13.3.3    Forecast Trend (2022-2027)
    13.4    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Production Cost Analysis, By Major Producing Countries
16    Price Analysis

    16.1    North America Historical Price Trends (2017-2021) and Forecast (2022-2027)
    16.2    Europe Historical Price Trends (2017-2021) and Forecast (2022-2027)
    16.3    Asia Pacific Historical Price Trends (2017-2021) and Forecast (2022-2027)
    16.4    Latin America Historical Price Trends (2017-2021) and Forecast (2022-2027)
    16.5    Middle East and Africa Historical Price Trends (2017-2021) and Forecast (2022-2027)
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Neste Oil
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    UPM BioVerno
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Eni
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Total Energies
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Royal Dutch Shell
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Kaidi Finland (Sunshine)
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    Preem
            17.2.7.1    Company Overview
            17.2.7.2    Product Portfolio
            17.2.7.3    Demographic Reach and Achievements
            17.2.7.4    Certifications
        17.2.8    OMV
            17.2.8.1    Company Overview
            17.2.8.2    Product Portfolio
            17.2.8.3    Demographic Reach and Achievements
            17.2.8.4    Certifications
        17.2.9    Repsol
            17.2.9.1    Company Overview
            17.2.9.2    Product Portfolio
            17.2.9.3    Demographic Reach and Achievements
            17.2.9.4    Certifications
        17.2.10    Phillips 66
            17.2.10.1    Company Overview
            17.2.10.2    Product Portfolio
            17.2.10.3    Demographic Reach and Achievements
            17.2.10.4    Certifications
        17.2.11    Others
18    Key Trends and Developments in the Market

Key Questions Answered in the Report

The global market size for bio naphtha was estimated to be 455 thousand tonnes by volume in 2021.

The expected market size is projected to reach an approximate volume of 1293.2 thousand tonnes by 2027.

The global market for bio naphtha is expected to grow at a CAGR of 19.10% between 2022 and 2027.

Naphtha is a flammable liquid hydrocarbon mixture. Bio naphtha refers to naphtha produced by the hydro-treatment of renewable sources.

The key drivers of the market are the rising demand for home decor materials, consumer electronics and automotive vehicles, implementation of government policies and technological advancements. 

The market for bio naphtha is segmented on the basis of source, end use, distribution channels and regions. 

Key market players include Neste Oil, Eni, UPM BioFuels, Total Energies, Royal Dutch Shell, Kaidi Finland (Sunshine), Preem, OMV, Repsol, and Phillips 66, among others.

Major regional markets for bio naphtha include North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.

Bio naphtha consists of primarily paraffin.

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