United States Bio-Based Naphtha Market 2025 | Growth Drivers, Key Players & Investment Opportunities

Market Size and Growth

The Global Bio-Based Naphtha Market reached US$ 895.2 million in 2022 and is expected to reach US$ 3,338.7 million by 2030, growing with a CAGR of 18.3% during the forecast period 2024-2031

Recent Mergers and Acquisitions & Key Development:

United States: Recent Industry Developments

✅ In August 2025, ExxonMobil commenced test operations at its $10 billion petrochemical complex in Huizhou, Guangdong province. The facility, one of the few mega petrochemical plants in China wholly owned by a foreign investor, is designed to produce high-end petrochemical products, including bio-based naphtha.

✅ In July 2025, XCF Global's new Rise Reno facility commenced operations, producing sustainable aviation fuel (SAF), renewable diesel, and bio-naphtha. This facility marks a significant expansion in the U.S. biofuels sector.

✅ In July 2025, Chevron Renewable Energy Group announced plans to expand its bio-based naphtha production capacity in the U.S. The expansion aims to meet the growing demand for sustainable feedstocks in the petrochemical industry.

✅ In June 2025, Diamond Green Diesel, a joint venture between Valero and Darling Ingredients, reported a significant increase in bio-based naphtha output. The company is leveraging renewable feedstocks to produce bio-naphtha for various applications.

Japan: Recent Industry Developments

✅ In March 2025, Marubeni Corporation, Japan Airlines, Mitsubishi Chemical, and other partners initiated a pre-feasibility study for the commercialization of sustainable aviation fuel, bio-naphtha, and renewable diesel utilizing domestic forest residues. The project aims to build a domestic supply chain for these sustainable fuels.

✅ In February 2025, Mitsubishi Corporation and ENEOS Corporation began Front End Engineering Design (FEED) for a facility expected to produce approximately 300,000 tons of sustainable aviation fuel per year from FY2028 onwards. Bio-naphtha and bio-diesel fuel fractions will be byproducts of this facility.

✅ In July 2024, Suntory announced plans to produce sustainable PET bottles using bio-PTA derived from bio-naphtha, in partnership with ENEOS, Neste, and Mitsubishi. This initiative aims to reduce the carbon footprint of packaging materials.

✅ In July 2024, Petronas, Enilive SpA, and Euglena Co announced a joint venture to develop a biorefinery in Pengerang, Johor, Malaysia. The biorefinery will process approximately 650,000 tons per year of raw materials to produce sustainable aviation fuel, hydrogenated vegetable oil, and bio-naphtha

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Bio-Based Naphtha is a renewable hydrocarbon fuel derived from biomass sources such as plant oils, agricultural residues, or waste materials. It serves as a sustainable alternative to petroleum-derived naphtha, used in chemical production, biofuels, and energy applications, helping reduce carbon emissions and support a circular economy.

Key Players:

-> Neste Corporation, UPM Biofuels, INEOS, Gevo, Euglena co Ltd., AltAir Fuels, Preem, Shell Plc, Eni S.p.A and Diamond Green.

Growth Forecast Projected:

The Global Bio-Based Naphtha Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Bio-Based Naphtha Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

By Source: Vegetable Oil, Biomass, Other

By Application: Gasoline, Petrochemical, Aviation Fuel, Bio Benzene, Bio Phenol, Other

Regional Analysis for Bio-Based Naphtha Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Bio-Based Naphtha producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Bio-Based Naphtha revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Bio-Based Naphtha Market?

A: In 2022, the Bio-Based Naphtha Market was valued at US$ 895.2 million, reflecting its strong industry presence.

Q2: How large is the Bio-Based Naphtha Market expected to be by 2030?

A: By 2030, industry forecasts suggest the Bio-Based Naphtha Market will grow to around US$ 3,338.7 million, demonstrating significant expansion.

Q3: What is the growth rate of the Bio-Based Naphtha Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 18.3% during the forecast period from 2024 to 2031.

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