NEW YORK, Aug. 29, 2023 (GLOBE NEWSWIRE) — ReportLinker.com announces the release of the “Bio-Based Naphtha: Global Markets” report –
The base year for the analysis has been considered as 2022, and the market estimates and forecasts for 2023 to 2028 are given. Market estimates are provided in terms of revenue (US$, millions) only.
On the basis of source, the market is segmented into –
– biomass.
– Vegetable oil.
– Used cooking oil.
– animal fat.
– Other.
On the basis of application, the market is segmented into –
plastic production
– Bio Polythene.
– Bio Polypropylene.
Bio polyolefins.
– Other.
Other.
Reports include:
– 133 data tables and 27 additional tables
– A comprehensive overview of the global market for Bio-based Naphtha (Bio-Naphtha)
– Analysis of global market trends with market revenue (sales figures) for 2022, projections to 2023 and compound annual growth rate (CAGR) projections to 2028
– To understand the upcoming market prospects for Bio-based Naphtha, evaluation of the global Bioplastics and Biofuels markets, and areas of focus to forecast this market for Bio-based Naphtha across various segments and sub-segments.
Estimates of the actual market size and revenue forecast for the global bio-based naphtha market in US$ million value, and respective market share analysis based on source of feedstock, application, and region
– In-depth information (Facts & Figures) related to key factors influencing the demand for Bio-Based Naphtha market (Opportunities, Drivers & Challenges) with respect to specific growth trends, upcoming prospects and contribution to the overall market
– Market outlook and assessment of renewable diesel and sustainable aviation fuel markets, growth in R&D activities in bio-naphtha, pricing, consumption and estimated production capacity
– A look at the recent market trends, regulatory concerns, and ESG (Environmental, Social and Governance) developments in the global Bio-based Naphtha market
– A review of major patent grants and recent patent applications on the Bio-based Naphtha market, with an emphasis on emerging technologies and new developments within the Bio-based Naphtha industry.
– A look at the main producers of Bioplastics and Biofuels, and an analysis of the structure of the Bio-based Naphtha industry (for example, market share, concentration, and recent mergers and acquisitions (M&A) activities, etc.)
– Identification of key players operating in the market, and analysis of their competitive landscape based on recent developments, segmental revenue and operational integration
– Descriptive company profiles of leading global players in the industry including Eni, Diamond Green Diesel, Neste, Preem, Repsol and UPM Biofuels
Summary:
The global market for bio-based naphtha was projected to be $REDACTED billion in 2022. The market is projected to grow at a compound annual growth rate (CAGR) of REDACTED% from 2023 to 2028, and is expected to reach $REDACTED. billion by 2028.
Bio-based naphtha can help enterprises comply with these regulations and enhance their reputation for sustainability. Similar to conventional naphtha, bio-based naphtha is primarily used as a feedstock for petrochemical crackers or as a component in gasoline blending.
Overall, the aim of creating a more eco-friendly and sustainable economy, enhancing energy security, and meeting consumer demand for eco-friendly goods and materials drive the need for bio-based naphtha.
In this report, the Bio-based Naphtha of the global market has been segmented on the basis of source, application, and geography. Major oil producers are increasingly struggling to become more sustainable in order to maintain their dominance in the developing market for more sustainable fuels.
They use funding schemes and technological advancements that will boost the demand for bio-based naphtha. For example, in 2021, Mitsui Chemicals, a Japanese petrochemical maker, signed an agreement to buy bio-naphtha from Neste, a biofuel producer, and a Japanese trading company. company, Toyota Tsusho, as part of measures to meet its 2050 decarbonisation target.
The used cooking oil (UCO) segment currently dominates the market with a value of $REDACTED million in 2022. It is projected that the UCO source segment will expand at a CAGR of REDACTED%, and is expected to reach $REDACTED billion by 2028.
Five geographic regions have been identified for the bio-based naphtha market: North America, Asia-Pacific, Europe, Middle East & Africa, and Latin America. In 2022, Europe is expected to dominate the global market for bio-based naphtha.
Europe bio-based naphtha market to generate revenue of REDACTED million in 2022, REDACTED % of global market. Some of the main factors boosting the North American market are the existence of several domestic and foreign companies, access to resources, technological advancements, and increasing demand for biopolymers.
The North American market for bio-based naphtha was projected to be $REDACTED million in 2022. It is projected that this market will grow at a CAGR of REDACTED% and reach $REDACTED million by 2028.
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Source: www.globenewswire.com
