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Classified in: Oil industry
Subject: MRR

Biofuels Market Size, Share & Trends Analysis Report By Product, Geography, and Segment Forecasts, 2021 - 2025


NEW YORK, June 17, 2022 /PRNewswire/ -- The research on third-generation biofuel will be a key trend in the global Biofuels Market in near future. First-generation biofuels are produced using vegetable oil, starch, sugar, and animal fats. Second-generation biofuels, popularly known as advanced biofuels, are produced from feedstock, which is not consumed as food. Biofuel technology has further evolved with the introduction of third-generation biofuels. Third-generation biofuels are derived from algae that offer numerous advantages over other sources used to produce biofuels. Algae is used to produce diverse and high-quality biofuels when compared with other feedstocks. Biodiesel, butanol, gasoline, methane, ethanol, vegetable oil, and jet fuels are the type of fuels that can be derived from algae. Algae fuels also offer a greater yield and can produce more than ten times the fuel per acre of land when compared with traditional fuels. Micro-algae are becoming popular candidates for biofuel production owing to their high lipid contents and ease of cultivation. The development of third-generation fuels has led to the diversification of feedstock options and the performance improvement of biofuels leveraging advanced technology. Due to such reasons, the global biofuels market will continue to grow in the forecast period.

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The Biofuels Market value is set to grow by USD 23.21 billion, progressing at a CAGR of 3.35% from 2020 to 2025, as per the latest report by Technavio. Moreover, the market is segmented by product (ethanol and biodiesel) and geography (North America, Europe, APAC, South America, and MEA).

Biofuels Market Product Outlook (Revenue, USD bn, 2020-2025)

The biofuels market share growth by the ethanol segment will be significant during the forecast period. The need to reduce GHG emissions is the prime reason for the rising adoption of ethanol biofuel globally. The major use of ethanol is in the domestic transport sector by privately owned vehicles that mostly have a gasoline engine and are capable of running on ethanol-blended gasoline as well. This improves engine life, lowers harmful emissions, and has no effect on the efficiency of gasoline engines.

Biofuels Market Geography Outlook (Revenue, USD bn, 2020-2025)

25% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for biofuels market in APAC. Market growth in this region will be faster than the growth of the market in all other regions. Rising need for cleaner fuels will facilitate the biofuels market growth in APAC over the forecast period. 

Biofuels Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3.35%

Market growth 2021-2025

$ 23.21 billion

Market structure

Fragmented

YoY growth (%)

2.87

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

APAC at 25%

Key consumer countries

US, Brazil, China, India, UK, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ALTEN Group, Archer Daniels Midland Co., Argent Energy UK Ltd., BIOX Corp., Bunge Ltd., Cargill Inc., Louis Dreyfus Co. BV, RB FUELS, Renewable Energy Group Inc., and Wilmar International Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

The increased adoption of renewable sources of energy is a major factor driving the global biofuels market growth. The rise in GHG emissions is of prime concern to mankind as these emissions are responsible for a number of environmental hazards, including ozone layer depletion. The need to reduce GHG emissions and prevent the degradation of the environment are the major driving forces behind the rapid adoption of renewable sources of energy. Renewable sources of energy are now cost-competitive and are now considered established sources of primary energy in many countries. Many countries in Europe, including Norway, Iceland, and Sweden, meet more than half of their total annual energy requirement through renewable sources of energy. The need to reduce GHG emissions and the increased adoption of renewables will be major driving forces for the global biofuels market during the forecast period.

Market data points, ranging from trend analyses to market estimates & forecasts. Request for More Details

Some of the Major Biofuels Companies:

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

The biofuels market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio


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