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Global Biofuels Market Size,Trends, Growth Forecast to 2031

Category : Chemicals & Materials | Report Code : 1840 | Pages : 141 | Oct 2024

Report Overview

Solid, liquid, or gaseous fuels that are produced from biomass are called biofuels. They are renewable and are good substitutes to fossil fuels. Most biofuels available in the market today are made from plants. They are often used as transportation fuels.

Certain plants are being cultivated specifically for biofuel production. In the U.S., switchgrass, soybeans, and corn are the major sources of biofuel. Brazil uses sugar cane while Europe processes sugar beet and wheat. Other agricultural products being processed into biofuels are cassava and sorghum in China, miscanthus and palm oil in Southeast Asia, and jatropha in India.

Examples of biofuels are biodiesel, bio-alcohols (bio-ethanol, biomethanol, biobutanol), biogas, syngas, and solid biofuels like wood, charcoal, and sawdust. Countries that have strongly promoted biofuel development and use include Brazil, the U.S., France, Sweden, and Germany.

The two most widely used types of biofuels are bio-alcohols and biodiesel, so this report mainly focuses on bio-ethanol and biodiesel.

The global Biofuels market size is projected to grow from US$ 14930 million in 2024 to US$ 27100 million in 2030; it is expected to grow at a CAGR of 10.4% from 2024 to 2030.

Analytic Insights Hub' newest research report, the “Biofuels Industry Forecast” looks at past sales and reviews total world Biofuels sales in 2023, providing a comprehensive analysis by region and market sector of projected Biofuels sales for 2024 through 2030. With Biofuels sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Biofuels industry.

This Insight Report provides a comprehensive analysis of the global Biofuels landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Biofuels portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Biofuels market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Biofuels and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Biofuels.

United States is the largest Biofuels market with about 54% market share. South America is follower, accounting for about 28% market share. The key players are POET, Valero Energy, ADM, Neste, Raízen, Marathon Petroleum Corporation, Green Plains, Louis Dreyfus, The Andersons, Groupe Avril, Renewable Energy Group, COFCO Biotechnology, Cargill, Alto Ingredients, Ag Processing, RBF Port Neches, Caramuru Alimentos, Longyan Zhuoyue, Zhejiangjiaao Enprotech Stock, World Energy, etc. Top 5companies occupied about 22% market share.

There are many types of biofuels, including bioethanol, biodiesel, biogas, renewable methanol and sustainable aviation fuel. They can be produced from different raw materials, such as crop waste, forestry waste, urban domestic waste and livestock and poultry manure. The production and use of biofuels are encouraged and supported worldwide, and many countries have implemented relevant policies to promote their development.

In terms of application, biofuels can be widely used in the automotive, ship and aviation fields, replacing fossil energy such as oil and natural gas. Biofuel cells are also one of the research hotspots. They use enzymes or microorganisms as catalysts to convert chemical energy into electrical energy, and have the characteristics of wide raw materials and environmental friendliness.

Although biofuels have great development potential, they still face challenges in raw material supply and cost. For example, the supply and cost of raw materials, as well as the low output of new liquid biofuels and the small variety of products need to be solved. In addition, the application of biofuels in the shipping industry also faces challenges in raw material supply and aviation demand.

Overall, as a green and renewable energy source, biofuels play an increasingly important role in the global energy structure transformation and environmental protection. With technological advancement and policy support, the market value and application scope of biofuels are expected to expand further.

This report presents a comprehensive overview, market shares, and growth opportunities of Biofuels market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
    Bioethanol
    Biodiesel
    Others

Segmentation by Application:
    Industrial Fuels
    Transportation Fuels
    Chemical Industry

This report also splits the market by region:
    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
    Groupe Avril
    Neste
    ADM
    Cargill
    Green Plains
    Valero Energy
    Louis Dreyfus
    Renewable Energy Group
    RBF Port Neches
    Ag Processing
    Caramuru Alimentos
    World Energy
    POET
    Marathon Petroleum Corporation
    Raízen
    Alto Ingredients
    The Andersons
    COFCO Biotechnology
    Longyan Zhuoyue
    Zhejiangjiaao Enprotech Stock

Key Questions Addressed in this Report
What is the 10-year outlook for the global Biofuels market?
What factors are driving Biofuels market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Biofuels market opportunities vary by end market size?
How does Biofuels break out by Type, by Application?

Frequently Asked Questions?

Ans - The purpose of a Biofuels market research report is to provide data-driven insights and analysis on a Biofuels market. It helps businesses understand industry trends, competition, consumer behavior, market size, growth potential, and risks, supporting strategic decision-making.

Ans - Market research reports typically include both quantitative (market size, revenue, growth rates) and qualitative (trends, consumer preferences, competitive analysis) data. It often includes industry statistics, surveys, expert opinions, historical data, and future forecasts.

Ans - The forecast period typically for Biofuels market report spans the next 5 to 10 years. It includes projected market trends, growth opportunities, and potential challenges.

Ans - Yes, Analytic Insights Hub customization services, allowing businesses to focus on specific geographies, sectors, or market segments that are relevant to them.

Ans - The report highlights major trends such as technological innovations, consumer behavior shifts, regulatory changes, or emerging markets that may impact the industry?s growth.