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Bio-based Naphtha Market Share

Report ID: GMI5510
Published Date: Mar 2023
Report Format: PDF

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Bio-based Naphtha Market Share

Preem
Shell Plc
Neste
Eni S.p.A.
UPM Biofuels
Total Energies
Diamond Green Diesel
Euglena Co., Ltd.
Kaidi Finland

are some of the leading solution providers in the global bio-based naphtha market. These companies are working on developing new strategies for innovating products along with strategic initiatives like partnerships, collaborations, and more.

To cite an instance, in 2023, to make a shift away from crude oil, Royal Dutch Shell in Germany announced plans to make naphtha using renewable energy and crops. Apart from this, the company also plans to expand an electrolysis plant that generates fossil-free hydrogen for commercial purposes. In the long run, Shell plans to replace conventional jet fuel and naphtha with synthetic power-to-liquids (ptl) produced at Weaseling, a facility that is a part of the Rhineland refinery, utilizing green electricity and biomass. Construction on the 100,000 t/a ptl plant is anticipated to start in 2023, and operations are projected to start in 2025.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of bio-based naphtha crossed USD 621 million in 2022 and is poised to record more than 17% CAGR from 2023 to 2032.

The vegetable oils segment is expected to reach USD 2.2 billion by 2032 as it is a major source of naphtha.

Europe market for bio-based naphtha is slated to observe nearly 16.5% CAGR from 2023 to 2032 due to the increasing usage of the substance for polymer production.

Preem, Shell Plc, Neste, Eni S.p.A., UPM Biofuels, Total Energies, Diamond Green Diesel, Euglena Co., Ltd., and Kaidi Finland are some of the leading companies in the global market.