Global Bio-based Naphtha Market Outlook

the global bio-based naphtha market is expected to witness remarkable growth over the forecast period between 2018-2032. this is due to the advent of environmental awareness among consumers resulting in a global shift towards the usage of renewable resources and cleaner fuels. the demand for bio-based naphtha has been increasing globally as an alternative to petroleum-based fuels due to its lower carbon emissions. to meet this increasing demand, several nations have been encouraging and investing in advanced bio-fuel production technologies. in addition to its use as a fuel, bio-based naphtha is also used as a feedstock in petrochemical production processes. naphtha derived from natural gas and crude oil is faced by regulatory restrictions owing to their high levels of volatile organic compounds (voc). this has encouraged many petrochemical manufacturers to shift towards bio-based naphtha as a feedstock to comply with regulations. as a result, bio-based naphtha is increasingly being used over petroleum-derived fuel and feedstock in the petrochemical industry. furthermore, the development of second-generation bio-fuels, such as cellulosic ethanol, is expected to further push the demand for bio-based naphtha in the forthcoming years. this is because cellulosic ethanol is more cost-effective to produce than the first-generation bio-fuels that used corn as feedstock. with the increasing focus of the us and europe on renewable energy, the demand for bio-based naphtha as a raw material for cellulosic ethanol is rising. the global bio-based naphtha market is being driven by the increasing environmental awareness among consumers, preferential pricing and policies favouring the production and consumption of bio-fuels. however, the market is hindered by the high cost of production as compared to the production of petroleum-derived fuels. with all these trends, the global market for bio-based naphtha is on the rise and the industry continues to be driven by bio-fuel production technology. the next decade is expected to witness unprecedented growth in the global bio-based naphtha market, driven by environmental considerations and growing consumer demands for renewable products.