Global Biofuels and Biodiesel Market by Product Types (Cellulosic Ethanol, Vegetable Oil, Biogas, Bio alcohols, Biodiesel, Biobutanol, Bio DME, and Others), Feedstocks (Lignocellulose, Syngas, Algae, Sugar & Starches, Oil & Fats, and Others), and
The global biofuels and biodiesel market was valued over USD 136 billion in 2019 and is projected to surpass USD 153 billion by 2026, at a CAGR of greater than 8%. The growth of this market is expected to be driven by the rising support for eco-friendly alternatives to traditional fuels available for industries.
Biofuels are viewed as sustainable power sources, produce not exactly non-renewable energy sources, and have gotten expanding consideration in the progress to a low-carbon economy. Bioethanol (otherwise known as ethanol) is the most understand biofuel and is liquor created from corn, sorghum, potatoes, wheat, sugar stick, even cornstalks and vegetable waste. It is regularly mixed with fuel. Biodiesel is oil from plants or creatures utilized as an option to or mixed with oil diesel in cars and modern armadas with diesel motors. Get Free Sample Before Purchasing
Market Trends, Drivers, Restraints, and Opportunities:
- Fluctuating oil costs driving the interest for biofuels is driving the growth of the market.
- Developing enthusiasm for alternative and substitute fuel is acting as a favourable factor driving the market growth.
- High cost of setting up the infrastructure is acting as a restraint for the growth of the market.
- Lack of innovation due to insufficient fund allocation is a restraint in the market growth.
- The unexplored markets of emerging economies and the use of latest technologies are opportunities for the growth of the market.
Scope of the Report
The report on the global biofuels and biodiesel market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. Attributes
Details
Base Year
2019
Historic Data
2015–2018
Forecast Period
2020–2026
Regional Scope
Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America
Report Coverage
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Global Biofuels and Biodiesel Market Segment Insights:
Based on product types, the global aerospace pneumatic market is divided into cellulosic ethanol, vegetable oil, biogas, bio alcohols, biodiesel, biobutanol, bio DME, and others. The cellulosic ethanol segment has the biggest segment in 2019 and is expected to witness the fastest growth with a substantial CAGR in forecast period because it releases few emissions and has a better octatne number compared to other fuels. In terms of feedstocks, the market is divided into lignocellulose, syngas, algae, sugar & starches, oil & fats, and others. The oil & fat segment has the largest market share and is expected to witness the highest CAGR during the forecast period due to oil bearing crops such as jatropha which has lesser emissions and has same colorific value compared to diesel. On the basis of regions, the market is segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. North America has the biggest regional market in 2019 and will extend further at a moderate CAGR during forecast period due to the increasing adherence to high standards of regulations and policies set by government agencies for clean energy such as U.S. Renewable Fuels Standard (RFS). However Asia Pacific is expected to witness the fastest CAGR during the forecast period because of rising dependence of fuel due to huge availability of feedstock for production.
Competitive Landscape:
Some of the other key players operating in the market include Dupont industrial biosciences, Granbio, Algenol, Poet-DSM advanced biofuels, and Renewable Energy Group. The major market players gain edge in the market by activities of mergers & acquisitions and investing in research & development to offer various product offerings.
- In January 2020, Bunge North Americas reported it has sold its stake in an ethanol plant in the US to SIRE (Southwest lows Renewable Energy) as a test to continue the plague ethanol industry in America.
- In August 2019, State-run oil showcasing organizations in India that incorporate Indian Oil, Bharat Petroleum and Hindustan Petroleum as of late propelled a program to acquire biodiesel produced using utilized cooking oil in 100 urban areas the nation over.
- In July 2019, VERBIO Diesel Canada, a backup of VERBIO Group reported that it has finished the acquisition of Atlantic Biodiesel, a biodiesel plant with a yearly limit of 150,000 roughly 150,000 tons of biodiesel and 18,000 tons of crude glycerine, This buy will permit VERBIO to use their innovation with the ability of the group that has been working the plant previously.
The global biofuels and biodiesel market has been segmented on the basis of
Product types
- Cellulosic Ethanol
- Vegetable Oil
- Biogas
- Bio alcohols
- Biodiesel
- Biobutanol
- Bio DME
- Others
Feedstocks
- Lignocellulose
- Syngas
- Algae
- Sugar & Starches
- Oil & Fats
- Others
Regions
- Asia Pacific
- China
- India
- Japan
- Europe
- Germany
- U.K.
- France
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Middle East & Africa