Renewable Naphtha Market: Overview
The ethanol industry has posited vast interest in renewable naphtha market. Naphtha has been heralded as an excellent chemical feedstock. Over the years, advances made in the chemistry related to its synthesis have pushed renewable naphtha to become a key in promoting the feasibility of renewable chemistry such as renewable chemicals and bio-plastics. Cost-effective synthesis of renewable naphtha has attracted the attention of oil producers and their end-use industries. Two of the key application areas in the renewable naphtha market are in sustainable aviation fuel and renewable diesel. Thus, the automotive industry is seeing considerable market proposition in renewable naphtha. It is used extensively as bio-based fuel component in mixing with these fuels to make more environmental friendly.
The study on the renewable naphtha market offers insights on the key growth dynamics, new avenues, recent technological strides, promising regional markets, and revenue/volume share and size of all key segments. The research also highlights applications with vast potential opportunities during the assessment period.
Renewable Naphtha Market: Key Trends
One of the key technological trends is advances being made in cracking of naphtha. The drive for this has emanated from the growing industry demand for the production of light olefins. The demand for high light olefin yields has spurred on research on steam cracking of renewable naphtha. A number of pilot experiments highlight that.
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Strides being made by acceptance of alternate sources of energy is a key trend propelling the consumption of renewable naphtha. Stringent implementation of pollution norms and regulations that are made by regulatory bodies from time to time has boosted its adoption.
Growing application of renewable naphtha in making renewable chemicals is opening new avenues in the market. The renewable naphtha market has seen rapidly expanding research and development activities in this direction. A key aim of researchers is to make these chemicals more economical to synthesize. Strides being made in the automotive sector to adopt more renewable ingredients in the fuels used are spurring revenues in the renewable naphtha market. Advances being made by steam cracking of this renewable naphtha are opening new avenues in the market.
Renewable Naphtha Market: Competitive Analysis and Key Developments
Several players are leaning toward strategic collaborations to spur the pace of product innovation in the renewable naphtha market. They are expanding their business lines in regional as well as international markets. The rapid pace of commercialization of oil has added momentum to the revenue generation in the naphtha market. Top players are also expanding their production units in untapped markets, such as in numerous parts of the developing world. Most players are seeing new opportunities from the use of renewable naphtha in transportation sector, and are getting in partnerships to meet the demand.
Renewable Naphtha Market: Regional Assessment
North America, Latin America, Europe, China, Asia Pacific, and the Middle East and Africa are some of the key regional segments for understanding the geographical expansion of the renewable naphtha market. The presence of a large end-user base in North America and European countries make these regional markets increasingly prominent in the expansion of the global renewable naphtha market. Asia Pacific has seen the emergence of new revenue streams in India and China. The growth is fueled by the rise in industry interest in renewable chemicals over the past few years. Further, a burgeoning oil sector in the Middle East makes the region highly lucrative in terms of new demand in the global renewable naphtha market.
Some of the prominent players in the renewable naphtha market are Sunshine Biofuels, Honeywell UOP, UPM Biofuels, Renewable Energy Group, Inc., and Neste Oyj.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.