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Rising demand for reduced carbon-emitting fuels and advancements in algae-based biofuel generation are factors driving biofuels market revenue growth
Biofuels Market Size – USD 154.76 Billion in 2021, Market Growth – at a CAGR of 7.0%, Trends – Increased demand for biofuels in the transport sector due to cost-effectiveness and low carbon footprint” — Emergen Research
VANCOUVER, BC, CANADA, August 4, 2022 /EINPresswire.com / -- Biofuels Market size reached USD 154.76 Billion in 2021 and is expected to register a revenue CAGR of 7.0% during the forecast period. Biofuels burn cleaner than gasoline and result in low carbon emissions, therefore, their use in transport results in fewer greenhouse gas emissions. This factor is driving biofuel market revenue growth. Biofuels are manufactured from renewable energy sources, such as corn, biomass, and sugarcane, among others, thus, adoption of biofuels can result in significant savings on crude oil imports for several countries.
The Global Biofuels Market Research Report published by Emergen Research has been formulated by analysis of key business details and extensive geographical spread of the Biofuels industry. The study offers comprehensive coverage of the qualitative and quantitative analysis of the Biofuels market along with crucial statistical data about the Biofuels market. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
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The report also studies the key companies of the Biofuels market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Based on the competitive landscape, the market report analyses the key companies operating in the industry:
Neste, Archer Daniels Midland (ADM), INEOS, BlueFire Renewables, Inc., Renewable Energy Group, Inc., Alto Ingredients, Inc., POET, LLC., Valero Energy Corporation, Shell, Abengoa, and Bunge Limited.
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Further key findings from the report suggest
The ethanol segment is expected to register a rapid growth rate during the forecast period due to its easy availability and ability to reduce global warming. Tropical climate is ideal for sugarcane production and corn & grain are produced in almost every country, hence, easy accessibility of ethanol is driving its adoption in manufacturing of products including lacquers, drugs, and plastic. Ethanol-fueled vehicles emit a lower amount of carbon dioxide compared to traditional gasoline-fueled vehicles, which results in reduced global warming.
The sugarcane segment is expected to register a high growth rate over the forecast period. Biofuels, which are produced from sugarcane, results in low net greenhouse gas emissions and reduce adverse impact on environment. Sugarcane is an economical choice for biofuel producers and several benefits, such as pest & disease resistance, drought, and cold tolerance of crop, are driving its adoption as a raw material for biofuel production.
The Asia Pacific market is expected to grow at a rapid rate during the forecast period due to availability of considerable resources to produce biofuels. Market revenue growth is also driven by rising government initiatives in this region for reduction of greenhouse gases.
The report further divides the Biofuels market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Biofuels market.
Emergen Research has segmented the global biofuels market based on product type, feedstock, form, and region:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
Biodiesel
Ethanol
Biogas
Others
Feedstock Outlook (Revenue, USD Billion; 2019–2030)
Sugarcane
Corn
Vegetable Oil
Others
Form Outlook (Revenue, USD Billion; 2019–2030)
Solid Biofuel
Liquid Biofuel
Gaseous Biofuel
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The study segments the Biofuels industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2022 – 2030 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.
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The global biofuels market size reached USD 154.76 Billion in 2021
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