Bio-Based Naphtha Market Set for Strong Growth to USD 3,338.7 Million by 2030, Led by Europe's 36.54% Market Share | DataM Intelligence

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

Market growth is driven by rising demand for sustainable and renewable feedstocks in petrochemicals, increasing regulatory pressure to reduce carbon emissions, and growing adoption of bio-based alternatives in plastics, fuels, and chemical manufacturing. Additionally, advancements in biomass conversion technologies, expanding bio-refinery capacities, and increasing corporate commitments toward circular economy and net-zero targets are further accelerating market expansion.

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Europe: Key Industry Developments
✅ October 2025: Neste expanded its bio-based naphtha production at the Rotterdam refinery, integrating advanced hydrotreated vegetable oil technology to supply sustainable feedstocks for European petrochemical producers.

✅ July 2025: TotalEnergies announced regulatory advancements and pilot co-processing trials for bio-naphtha at its Antwerp facility, addressing EU Green Deal requirements for low-carbon alternatives in plastics manufacturing.

✅ March 2025: Borealis initiated a commercial-scale bio-naphtha project in Stenungsund, Sweden, utilizing biomass residues to produce renewable naphtha for high-performance polyolefins, supporting circular economy goals.

Asia Pacific / Japan: Key Industry Developments
✅ September 2025: Taiyo Oil and Mitsui Chemicals initiated collaborative efforts to produce chemically recycled naphtha and bio-based products using waste plastics and biomass via mass balance approach.

✅ March 2025: Marubeni Corporation, Japan Airlines, Mitsubishi Chemical, and partners began a pre-feasibility study for commercializing sustainable aviation fuel, bio-naphtha, and renewable diesel from domestic forest residues.

✅ November 2025: PETRONAS, Enilive, and Euglena held groundbreaking for a new biorefinery in Pengerang, Johor, Malaysia, advancing bio-naphtha production in the Asia Pacific region.

Key Merges and Acquisitions(2025):
✅ Diamond Green Diesel (Valero and Darling Ingredients JV) - reported significant increase in bio-based naphtha output in June 2025, leveraging renewable feedstocks to enhance production for petrochemical applications.

✅ XCF Global - launched its Rise Reno facility in July 2025, producing bio-naphtha alongside sustainable aviation fuel and renewable diesel, marking major U.S. biofuels expansion.

✅ Chevron Renewable Energy Group - announced plans in July 2025 to expand bio-based naphtha production capacity in the U.S., targeting rising demand for sustainable petrochemical feedstocks.

Market Segmentation Analysis:
-By Source: Vegetable Oil Leads with Dominant Share
Vegetable Oil commands 52% market share as of 2024, favored for its high yield and scalability in producing renewable feedstocks via processes like hydrotreating.
Biomass holds 35% share, leveraging abundant agricultural residues for cost-effective conversion but faces logistical challenges in supply chains.
Other sources (e.g., used cooking oil, animal fats) account for 13% share, gaining traction through waste valorization and circular economy incentives.

-By Application: Petrochemicals Dominate Amid Sustainability Push
Petrochemicals capture 48% market share, serving as a green alternative for plastics and chemicals production like bio-PE and bio-PP.
Gasoline follows at 22% share, supporting low-carbon fuels in transportation amid tightening emissions regulations.
Aviation Fuel takes 12% share, driven by SAF mandates; Bio Benzene and Bio Phenol each hold 8%, enabling sustainable aromatics; Others (e.g., fertilizers) make up 2%.

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Growth Drivers:
-Demand Surge
Growing environmental concerns and renewable energy goals drive adoption of bio-based naphtha as a low-carbon feedstock for fuels, plastics, and chemicals. Sustainability mandates in packaging and petrochemical sectors further accelerate this shift. Corporate decarbonization targets boost investments in bio-refineries.

-Policy Support
Government incentives, tax credits, and strict emissions regulations worldwide promote bio-naphtha over conventional sources. Policies targeting carbon reduction and circular economy practices enhance market penetration, especially in regions like Europe and Asia-Pacific.
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-Tech Advancements
Improvements in biomass processing and biorefinery integration improve yields and cost-competitiveness of bio-based naphtha from sources like vegetable oils and waste. These innovations support scalable production for automotive, electronics, and home decor applications.
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-Industry Applications
Rising demand in end-use sectors such as sustainable packaging, bioplastics, and synthetic fuels fuels expansion. Collaborations between producers and chemical firms secure off-take agreements, stabilizing supply chains. E-commerce growth amplifies need for green materials.

Regional Insights:
-Europe leads the Bio-Based Naphtha Market with the highest regional share of 36.54% in 2024, driven by strong regulatory support for sustainable fuels, advanced biorefinery infrastructure, and high demand from petrochemical sectors in countries like Germany and the Netherlands.

-Asia Pacific follows as the second-largest region, recognized as the largest or fastest-growing market in several analyses due to rapid industrialization, expanding plastic consumption, and investments in bio-based technologies in key countries such as China, India, and Japan.

-North America ranks third, bolstered by robust government incentives, technological advancements, and significant production led by the U.S., which holds the dominant revenue share within the region alongside contributions from Canada.

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Key Players:
Neste Corporation | UPM Biofuels | INEOS | Gevo | Euglena Co., Ltd. | AltAir Fuels | Preem | Shell Plc | Eni S.p.A | Diamond Green

Key Highlights (Top 5 Key Players) for Bio-Based Naphtha Market:
-Neste Corporation leads with renewable naphtha production exceeding USD 1.2 billion in sustainable fuels revenue in 2024, including bio-naphtha for petrochemicals and aviation.
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-UPM Biofuels reported USD 850 million in biofuels output, with bio-naphtha volumes supporting 15% of Europe's sustainable plastics feedstock.
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-Ineos generated USD 720 million from bio-based feedstocks, driven by naphtha innovations for low-carbon polymers amid 18% YoY growth.
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-Shell Plc achieved USD 650 million in bio-naphtha related sales through renewable supply chains, targeting SAF and chemical intermediates.
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-Eni S.p.A. recorded USD 580 million in bio-refined products revenue, with certified bio-naphtha enabling circular economy partnerships in packaging.

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