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The market grew at a CAGR of 3.6% over the past half-decade. Rising demand for eco-friendly substitutes for synthetic plastic, coupled with increasing usage of naphtha as raw material in bio-plastic production is favoring the growth in the market. On account of this, the  renewable naphtha  is projected to rise at a robust 10.5% CAGR during the forecast period (2021-2031). As per a study published by FMI, the global renewable naphtha market is estimated to top US$ 422 Mn in 2021. Increasing applications of renewable naphtha in the production of hydrogen is facilitating the market growth. Driven by this, the market is anticipated to reach US$ 1.15 Bn by 2031-end. Demand for renewable naphtha also will surge owing to growing fuel blending practices to comply with new regulations regarding fuel compositions. For instance, the Indonesian Government has increased the blending capacity of biodiesel from 10% to 15%. Favored by such developments, sales of renewable naphtha are expected t

A comprehensive analysis on the  Renewable Naphtha market  by Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years. The global renewable naphtha market is slated to reach  US$ 422.0 Mn  in 2021, finds Future Market Insights (FMI) in a recent market analysis. Rising demand for eco-friendly alternatives for plastics in various end-use industries is projected to enable sales at an impressive  10.5% CAGR . Considering this, FMI has forecast the market valuation to top  US$ 1.15 Bn  in 2031. Renewable naphtha finds applications in plastic articles, décor products in residential and commercial spaces, packaging, and production of bioplastics and hydrogen gas. Shifting c