The Global Renewable Naphtha Market was valued at USD 604.3 Million in 2022 and is projected to reach USD 1,485.8 Million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period. This robust growth is being propelled by stringent environmental regulations, escalating demand for bio-based chemicals, and the critical role of renewable naphtha as a feedstock for Sustainable Aviation Fuel (SAF) and bioplastics.

As the world transitions towards a circular bioeconomy, renewable naphtha is emerging as a cornerstone for decarbonizing hard-to-abate sectors. This versatile, drop-in biofuel co-product is reshaping supply chains. In this blog, we profile the Top 10 Companies in the Renewable Naphtha Industry—a dynamic mix of biofuel giants, chemical producers, and green technology innovators.

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🔟 1. Neste Corporation

Headquarters: Espoo, Finland
Key Offering: Renewable Naphtha, Neste MY Renewable Plastics™ feedstock

Neste is the global leader in renewable diesel and a dominant force in renewable naphtha production. Its proprietary NEXBTL technology efficiently co-produces high-purity renewable naphtha alongside renewable diesel, making it a key supplier to the sustainable chemicals and plastics industries.

Sustainability Initiatives:

• Targeting carbon-neutral production by 2035

• Expanding global production capacity to 6.8 million tons of renewable products annually

• Strategic partnerships with chemical companies for renewable polymers

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9️⃣ 2. Diamond Green Diesel (A Joint Venture of Valero and Darling Ingredients)

Headquarters: Norco, Louisiana, USA
Key Offering: Renewable Diesel, Renewable Naphtha

Diamond Green Diesel operates one of the largest renewable diesel plants in the world. As a major producer, its renewable naphtha output is a significant by-product, primarily supplied to the North American market for gasoline blending and as a chemical feedstock.

Sustainability Initiatives:

• Uses recycled animal fats and used cooking oil as feedstocks

• Significantly reduces lifecycle greenhouse gas emissions compared to fossil fuels

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8️⃣ 3. UPM Biofuels

Headquarters: Helsinki, Finland
Key Offering: UPM BioVerno Naphtha, Renewable Fuels

UPM Biofuels is a pioneer in advanced biofuels derived from sustainable forest biomass. Its UPM BioVerno naphtha is a distinctive product made from crude tall oil, a residue of pulp production, offering a unique pathway to decarbonize the plastics and chemicals value chain.

Sustainability Initiatives:

• World’s first commercial-scale biorefinery in Lappeenranta, Finland

• Focus on creating a sustainable forest-based bioeconomy

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7️⃣ 4. Renewable Energy Group, Inc. (A Subsidiary of Chevron)

Headquarters: Ames, Iowa, USA
Key Offering: Renewable Diesel, Biodiesel, Renewable Naphtha

Renewable Energy Group (REG) is a leading North American biofuels producer, now integrated into Chevron’s portfolio. Its bio-refineries co-produce renewable naphtha, supporting Chevron’s broader strategy to advance lower carbon energy solutions.

Sustainability Initiatives:

• Leader in utilizing diverse feedstocks, including waste and residues

• Committed to producing 100,000 barrels per day of renewable fuels by 2030

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6️⃣ 5. TotalEnergies

Headquarters: Paris, France
Key Offering: Bio-naphtha, Sustainable Aviation Fuel (SAF)

TotalEnergies is actively transforming its conventional refineries into integrated platforms for biofuels. The company produces bio-naphtha at several of its European sites, leveraging its refining expertise and extensive distribution network to supply the growing market for renewable chemical feedstocks.

Sustainability Initiatives:

• Aiming for 10% sustainable aviation fuel in its global aviation fuel sales by 2030

• Investing in biorefineries and plastic recycling to build a circular economy

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5️⃣ 6. ENI S.p.A.

Headquarters: Rome, Italy
Key Offering: HVO (Hydrotreated Vegetable Oil), Renewable Naphtha

Italian energy major ENI is a significant player in the European biofuels market. It has converted traditional refineries in Venice and Gela into bio-refineries that produce hydrogenated biofuels, including renewable naphtha, supporting the decarbonization of transport and chemicals.

Sustainability Initiatives:

• Targeting complete decarbonization of products and operations by 2050

• Sourcing sustainable vegetable oils with certified supply chains

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4️⃣ 7. Preem AB

Headquarters: Stockholm, Sweden
Key Offering: Renewable Gasoline, Renewable Naphtha, Preem Evolution Diesel

Preem is Sweden’s largest fuel company and a frontrunner in renewable fuel production. Its Synsat plant enables the co-processing of renewable raw materials, yielding renewable naphtha that is a crucial component for producing renewable plastics and solvents.

Sustainability Initiatives:

• Ambitious plan to produce 5 million cubic meters of renewable fuels by 2030

• Investment in large-scale production of renewable hydrogen

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3️⃣ 8. Repsol S.A.

Headquarters: Madrid, Spain
Key Offering: Renewable Naphtha, Biofuels, Circular Polyolefins

Repsol has made a strong commitment to renewable naphtha as part of its net-zero ambition. The company produces advanced biofuels, including renewable naphtha, which serves as a feedstock for its chemical division to manufacture polymers with a reduced carbon footprint.

Sustainability Initiatives:

• Pioneering the production of certified circular polyolefins from renewable naphtha

• Investing over €4 billion in low-carbon initiatives by 2025

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2️⃣ 9. Shell plc

Headquarters: London, United Kingdom
Key Offering: Shell Renewable Naphtha, Low-Carbon Fuels

Shell is leveraging its global scale and technological expertise to become a major supplier of low-carbon energy products. Its investments in biofuels facilities, such as the Energy and Chemicals Park Rotterdam, position it as a key future supplier of renewable naphtha for chemical and fuel applications.

Sustainability Initiatives:

• Targeting to produce around 2 million tonnes of sustainable aviation fuel per year by 2025

• Developing integrated hydrogen and biofuels hubs

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1️⃣ 10. Phillips 66

Headquarters: Houston, Texas, USA
Key Offering: Renewable Naphtha, Renewable Diesel

Phillips 66 is advancing its renewable fuels strategy through its Rodeo Renewed project in California. This initiative will transform its San Francisco Refinery into one of the world’s largest renewable fuels facilities, significantly boosting its output of renewable naphtha for the Western U.S. market.

Sustainability Initiatives:

• Converting existing refineries to produce over 800 million gallons per year of renewable fuels

• Focusing on waste and sustainable feedstocks to reduce carbon intensity

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🌍 Outlook: The Future of Renewable Naphtha Is Integrated and Circular

The renewable naphtha market is at an inflection point, evolving from a niche biofuel co-product to a strategic feedstock for a sustainable economy. Its future is intrinsically linked to the growth of renewable diesel, SAF, and the bio-based chemicals sector.

📈 Key Trends Shaping the Market:

• Policy-Driven Demand: Regulations like the EU’s Renewable Energy Directive (RED II) and U.S. Renewable Fuel Standard (RFS) are creating guaranteed demand for advanced biofuels and their co-products.

• Chemical Industry Decarbonization: Major chemical companies are increasingly adopting renewable naphtha to produce “drop-in” sustainable plastics and polymers, enabling them to meet corporate sustainability targets.

• Feedstock Innovation: R&D is accelerating into advanced feedstocks beyond traditional vegetable oils, including algae, municipal solid waste, and agricultural residues, to ensure sustainability and scalability.

• Integrated Biorefineries: The trend is moving towards complex biorefineries that can flexibly produce a slate of renewable products—diesel, naphtha, jet fuel, and chemicals—maximizing value and efficiency.

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The companies leading this market are not just producing a commodity; they are building the foundational blocks for a circular, bio-based economy. By turning waste and biomass into valuable chemical building blocks, they are proving that economic growth and environmental stewardship can go hand in hand.