The Global Bionaphtha (Bio-based Naphtha) Market was valued at USD 980.5 Million in 2025 and is projected to reach USD 2.1 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 16.5% during the forecast period (2024–2030). This remarkable growth is being fueled by escalating demand for sustainable feedstocks in chemical and fuel production, stringent environmental regulations, and the global push towards a circular bioeconomy.

As industries seek to decarbonize and reduce their reliance on fossil-based resources, bionaphtha emerges as a critical drop-in solution for producing biofuels, bioplastics, and biochemicals. This market is defined by the innovative companies developing and supplying this versatile bio-intermediate. In this blog, we profile the Top 10 Companies in the Bionaphtha Industry—biofuel giants, energy majors, and chemical specialists who are building the foundation for a more sustainable industrial future.

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🔟 1. Neste Corporation

Headquarters: Espoo, Finland
Key Offering: Neste RE™, a bio-based raw material for polymers and chemicals

Neste is a global leader in renewable and circular solutions, with its bionaphtha, marketed as Neste RE, being a prime example. Derived from 100% renewable raw materials like waste and residue oils, it serves as a sustainable drop-in feedstock for the plastics and chemicals industries, enabling the production of a wide range of everyday products with a significantly lower carbon footprint.

Sustainability Initiatives:

• Aims to help its customers reduce GHG emissions by at least 20 million tons annually by 2030

• Investment in increasing renewable product refining capacity to 6.8 million tons by the end of 2026

• Pioneering chemical recycling to transform plastic waste into a raw material for new plastics

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9️⃣ 2. UPM Biofuels

Headquarters: Helsinki, Finland
Key Offering: UPM BioVerno Naphtha

UPM Biofuels is a frontrunner in advanced biofuels production, with its proprietary UPM BioVerno naphtha being a cornerstone product. Produced from sustainable, certified crude tall oil—a residue of the pulp-making process—it is an ideal renewable feedstock for producing bio-based plastics, solvents, and other chemicals, directly substituting fossil naphtha.

Sustainability Initiatives:

• Operates one of the world’s first commercial-scale wood-based biorefineries in Lappeenranta, Finland

• Committed to the UN’s Business Ambition for 1.5°C pledge

• Focus on creating a sustainable future for the forest, pulp, and paper industries through bio-innovation

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8️⃣ 3. ENI S.p.A.

Headquarters: Rome, Italy
Key Offering: Bionaphtha from the Venice and Gela biorefineries

ENI has strategically converted its traditional refineries in Venice and Gela into advanced biorefineries, making it a major European producer of bionaphtha. Using Eni’s proprietary Ecofining™ technology, the company processes biological feedstocks, including used cooking oil and animal fats, to produce high-quality bionaphtha for the chemical sector.

Sustainability Initiatives:

• Target to exceed 5 million tonnes/year of bio-refining capacity by 2025 and 6 million by 2030

• Integration of bionaphtha production with existing petrochemical assets to create bio-based polymers

• Commitment to achieving carbon neutrality (Net Zero) by 2050

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7️⃣ 4. TotalEnergies

Headquarters: Paris, France
Key Offering: Bionaphtha from the La Mède biorefinery and other European sites

TotalEnergies is a key player in the energy transition, with bionaphtha being an important part of its bio-based product portfolio. Its La Mède biorefinery in France produces bionaphtha alongside other biofuels, utilizing a range of vegetable oils. The company is actively developing pathways to produce bionaphtha from advanced feedstocks.

Sustainability Initiatives:

• Goal to produce nearly 5% biojet and bionaphtha by 2030

• Investment in bio-plastics production through joint ventures, using bionaphtha as a feedstock

• Net-zero ambition across all its operations by 2050

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6️⃣ 5. Preem AB

Headquarters: Stockholm, Sweden
Key Offering: Renewable naphtha from the Lysekil refinery

Preem, Sweden’s largest fuel company, is aggressively expanding its renewable fuel production, with bionaphtha as a critical output. Through its Preem Evolution initiative, the company is investing heavily to increase the co-processing of renewable raw materials at its Lysekil refinery, positioning itself as a leading supplier of sustainable feedstocks for the Nordic chemical industry.

Sustainability Initiatives:

• Ambition to refine nearly 5 million cubic meters of renewable raw materials by 2030

• Investment in Preem Evolution to significantly increase renewable fuel and bionaphtha production capacity

• Commitment to producing 5 million tonnes of renewable products by 2030

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5️⃣ 6. Phillips 66

Headquarters: Houston, Texas, USA
Key Offering: Renewable naphtha from the Rodeo Renewed refinery conversion

Phillips 66 is undertaking one of the world’s most significant refinery conversions with its Rodeo Renewed project in California. This initiative will transform the San Francisco Refinery into a world-leading renewable fuels facility, producing substantial volumes of bionaphtha alongside renewable diesel and jet fuel from used cooking oil, fats, and greases.

Sustainability Initiatives:

• Rodeo Renewed project aims to produce over 800 million gallons per year of renewable fuels, including bionaphtha

• Target to reduce Scope 1 & 2 emissions intensity by 50% by 2050

• Focus on leveraging existing infrastructure for a lower-carbon energy transition

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4️⃣ 7. Diamond Green Diesel (A Joint Venture of Darling Ingredients and Valero)

Headquarters: Norco, Louisiana, USA
Key Offering: Renewable naphtha as a co-product of renewable diesel production

Diamond Green Diesel (DGD) is North America’s largest producer of renewable diesel. As a co-product of its hydrotreating process, DGD produces significant quantities of renewable naphtha. This high-quality bionaphtha is a valuable feedstock for the chemical industry and is distributed through its parent company Valero’s extensive logistics network.

Sustainability Initiatives:

• Operates the largest commercial-scale anaerobic digester in North America to produce renewable natural gas

• DGD’s Port Arthur plant expansion aims to increase total production capacity to 1.2 billion gallons per year of renewable diesel and naphtha

• Utilizes recycled animal fats, used cooking oil, and inedible corn oil as feedstocks

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3️⃣ 8. Repsol S.A.

Headquarters: Madrid, Spain
Key Offering: Bionaphtha from advanced biofuels units

Repsol is making significant strides in the production of biofuels, including bionaphtha, as part of its strategic plan to decarbonize its refining assets. The company is constructing advanced biofuels plants at its Cartagena and Petronor refineries, which will produce bionaphtha from organic waste, positioning Repsol as a key supplier in Southern Europe.

Sustainability Initiatives:

• Target to produce 1.3 million tonnes of sustainable biofuels by 2025 and over 2 million by 2030

• Pioneering the production of bio-based styrene from bionaphtha for circular polystyrene

• Net-zero emissions target by 2050

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2️⃣ 9. OMV AG

Headquarters: Vienna, Austria
Key Offering: Bionaphtha via co-processing at the Schwechat refinery

OMV is actively integrating bio-feedstocks into its refining operations, producing bionaphtha through co-processing at its Schwechat refinery in Austria. The company is focusing on creating a sustainable product portfolio for the chemical value chain, with bionaphtha being a key component for producing polymers with a reduced carbon footprint.

Sustainability Initiatives:

• Strategy 2030 focuses on a circular economy and sustainable fuels and chemicals

• Investment in ReOil® recycling technology to produce synthetic crude oil from plastic waste, which can be refined into bionaphtha

• Target to increase the share of circular solutions to more than 40% in the chemicals segment by 2030

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1️⃣ 10. REG (Renewable Energy Group) Inc. (A subsidiary of Chevron Corporation)

Headquarters: Ames, Iowa, USA
Key Offering: Renewable naphtha from its bio-refineries across North America

As a leading producer of biodiesel and renewable diesel, REG naturally produces bionaphtha as a co-product. With Chevron’s acquisition, REG’s technological expertise in converting diverse feedstocks is combined with Chevron’s global scale, enhancing the supply and distribution of bionaphtha to the chemical market.

Sustainability Initiatives:

• Expertise in utilizing a wide array of lower-carbon feedstocks, including inedible corn oil and used cooking oil

• Commitment to leading the energy transition through the delivery of lower carbon intensity fuels and feedstocks

• Chevron’s target to grow renewable fuel production capacity to 100,000 barrels per day by 2030

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🌍 Outlook: The Role of Bionaphtha in a Sustainable Industrial Future

The bionaphtha market is positioned at the heart of the transition towards a circular and bio-based economy. As a versatile bio-intermediate, it acts as a crucial bridge, enabling the decarbonization of two major sectors: transportation fuels and the chemical industry. The future growth trajectory is strongly linked to advancements in feedstock diversification, policy support, and the increasing demand for sustainable products from consumers and brand owners alike.

📈 Key Trends Shaping the Market:

• Policy-Driven Demand: Regulations like the EU’s Renewable Energy Directive (RED II) and ReFuelEU Aviation are creating mandatory markets for advanced biofuels, indirectly boosting bionaphtha production as a co-product.

• Chemical Industry Decarbonization: Major chemical companies are setting ambitious sustainability targets, increasing demand for drop-in bio-feedstocks like bionaphtha to produce green plastics (bio-PE, bio-PP) and chemicals.

• Feedstock Innovation: A significant shift from first-generation feedstocks (e.g., vegetable oils) to advanced and waste-based feedstocks (e.g., agricultural residues, municipal solid waste) to improve sustainability credentials and reduce land-use concerns.

• Refinery Transformation: The strategic conversion of traditional petroleum refineries into integrated bio-refineries, leveraging existing infrastructure to produce bionaphtha and other renewable products efficiently.

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Global Bionaphtha (Bio-based Naphtha) Market – View in Detailed Research Report

The companies leading this market are not just selling a product; they are actively constructing the supply chains and technological pathways necessary for a lower-carbon industrial ecosystem. Their investments and innovations are proving that economic growth and environmental stewardship can be powerfully aligned.