Global Renewable Naphtha Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview

of Global Renewable Naphtha market:
The latest research study on the global Renewable Naphtha market finds that the global Renewable Naphtha market reached a value of USD 146.36 million in 2022. It’s expected that the market will achieve USD 755.35 million by 2028, exhibiting a CAGR of 31.46% during the forecast period.

Renewable naphtha is a by-product of renewable diesel, derived from oils and fats. Compared with petroleum-based naphtha, it reduces harmful emissions. The properties of renewable naphtha allow it to be used as a raw material for the production of renewable chemicals and bioplastics, and it can also be used as a biological component of gasoline.

Influence of COVID-19 Outbreak on Renewable Naphtha Industry Development
The global outbreak of COVID-19 has a negative impact on the renewable naphtha industry. The outbreak of the epidemic has caused countries to enter a state of lockdown, and the demand for transportation fuel has dropped sharply. The demand for ethanol and biodiesel has also been hit, and the demand for renewable naphtha has also fallen. With the relaxation of national restrictions, demand is expected to rebound. At the same time, supply difficulties are affected by the epidemic, and it is more difficult for manufacturers to operate under conditions of weak demand and tight profits. In addition to the energy and fuel industries, another application market for renewable naphtha, the chemical raw material industry is also hit by the epidemic, with demand declining and production constraints.

The growing demand for renewable plastics will be an opportunity for the development of renewable naphtha
Renewable naphtha significantly reduces carbon emissions. Naphtha is a key material for the production of plastics, and Dow currently uses renewable naphtha to produce bio-based polyethylene in its factories. The polyethylene can be used in packaging fields such as food packaging to reduce food waste. The use of renewable naphtha as a raw material for plastics can realize the development of plastics business to a circular economy. The world is paying more and more attention to environmental protection, and the growing demand for renewable plastics will be an opportunity for the development of renewable naphtha.

The application of renewable naphtha in the gasoline industry is promoting the development of this market
Renewable naphtha can be used as a biological component of gasoline, which reduces harmful emissions and is more environmentally friendly. At the same time, cost-effective renewable naphtha has attracted the attention of oil producers and their end-use industries. The gasoline industry has made great strides in using more renewable fuels and is promoting the development of the renewable naphtha market.

As the demand for renewable naphtha rises, so does the cost of renewable naphtha
Renewable naphtha is an intermediate product that can be converted into gasoline, plastic and other products. Renewable naphtha is a by-product produced when a refinery converts renewable raw materials into diesel. In the past, the production of renewable naphtha was not high due to low prices and low demand. However, in recent years, the demand and cost of renewable naphtha have increased.

Unstable downstream demand for renewable naphtha
Renewable naphtha can be used as a biological component of gasoline or as a raw material in bioplastics. It is also a valuable product. The biggest risk associated with renewable naphtha is that renewable naphtha may lack a viable buyer. Although renewable naphtha has many uses, buyers of bio-naphtha are not allowed to sign long-term purchase contracts. Renewable naphtha is purchased on the spot market, so when demand decreases, there may be a surplus of renewable naphtha.

Region Overview:
In 2022, the share of the Renewable Naphtha market in Europe stood at 48.03%.

Company Overview:
UPM-Kymmene Oyj is one of the major players operating in the Renewable Naphtha market, holding a share of 24.63% in 2023.

UPM-Kymmene Oyj
UPM-Kymmene Oyj engages in the provision of forestry services and the manufacture of paper products. Its principal activities are manufacturing paper and converting materials and wood products. The company operates its business through segments: Pulp, Timber, Biofuels, Energy, Label, Specialty Papers, Communication Papers, Plywood, Bio-composites and Other operations.

Neste Oyj
Neste Oyj operates as an independent northern European oil refining and marketing company. The Company focuses on traffic fuels and other value-added petroleum products with reduced environmental impact.

Segmentation Overview:
Among different product types, Light segment is anticipated to contribute the largest market share in 2028.

Application Overview:
The market's largest segment by application is the segment Chemical Feedstock, with a market share of 57.29% in 2022.

The report covers a research time span from 2018 to 2029; combines extensive quantitative analysis and exhaustive qualitative analysis; presents not only an overview of the global Renewable Naphtha market in metrics of sales, revenue, growth rate, but also a deeper dive into the segmented market by region, product type and downstream industry, showing the readers a clear and distinct picture of how the market is distributed from different perspectives.

For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.

As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.

Research Scope
This report provides an overview of the global Renewable Naphtha market and analyzes the segmented market by product type, downstream industry, and region, presenting data points such as sales, revenue, growth rate, explaining the current status and future trends of the Renewable Naphtha and its sub-markets in an intuitive way.

Key Companies in the global Renewable Naphtha market covered in Chapter 3:
World Energy
Diamond Green Diesel
Neste Oyj
UPM-Kymmene Oyj
Renewable Energy Group, Inc.
East Kansas Agri Energy

In Chapter 4 and Chapter 14.2, on the basis of types, the Renewable Naphtha market from 2018 to 2029 is primarily split into:
Light
Heavy

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Renewable Naphtha market from 2018 to 2029 covers:
Chemical Feedstock
Energy and Fuel

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:
North America (United States, Canada)

Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)

Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)

Latin America (Brazil, Mexico, Argentina)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)

Key Factors Considered

COVID-19
Amid the COVID-19 crisis, the Renewable Naphtha market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research.

Regional Conflict / Russia-Ukraine War
The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it’s going to evolve in the years to come.

Challenges & Opportunities
Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.

Chapter Outline

Chapter 1 starts the report with a brief overview of the research scope, as well as the definitions of the target market and the subdivisions.

Chapter 2 integrates and sketches the research findings and conclusions in a clear and explicit way.

Chapter 3 presents the competitive landscape by displaying the sales, revenue, and market shares of the top players. It also profiles the major market participants with their business introductions, sales, price, revenue, gross, growth rates, etc.

Chapter 4 breaks down the market by different product types and shares data correspondingly with the aim of helping the readers know how the market is distributed by type.

Chapter 5 segments the market by downstream industry, with data covers sales, revenue, and growth rate tracing back to 2018.

Chapter 6 is the analysis of the whole market industrial chain, ranging from upstream raw materials to downstream customers, with regional conflicts taken into consideration.

Chapter 7 elaborates on market dynamics. Factors that drive, challenge, or restrain the market are all listed, together with industry news, opportunities, impacts of COVID-19, and SWOT analysis.

Chapter 8 shows the breakdown data at the regional level, which enables the readers to picture the regional competitive pattern of the market and learn about the revenue, sales, and market share of all the major regions.

Chapter 9-13 focus on each and every of the major region, specifically, North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Sales, price, revenue, gross, gross margin, among others, will be all be presented.

Chapter 14 forecasts the future trend of the market not only as a whole but also from the perspective of all segments.

Years considered for this report:

Historical Years:

2018-2022

Base Year:

2022

Estimated Year:

2023

Forecast Period:

2023-2029