The Global Biofuels and Biodiesel Market size is expected to grow at a CAGR of 7.3% during the forecast period (from 2021 to 2028). The rapid growth in demand for fuel, increasing awareness about environmental pollution and climate change, changing lifestyle patterns, supportive government policies are some factors driving this market. However, fluctuating raw material prices and a lack of infrastructure support are hindering the growth of this market.
Biofuels are fuels that can be derived from organic matter to replace fossil fuels, such as natural gas and petroleum-based products. Bioethanol is ethanol made from biomass sources like corn or sugarcane while biodiesel is a diesel replacement blend of animal fats or vegetable oils with mineral oil. Biodiesel has a higher energy density than bioethanol, making it more suitable for use in trucks and larger vehicles. However, the production process generates greater amounts of greenhouse gases per unit volume than bioethanol does because of its lower oxygen content - typically around 15% versus 39%.
On the basis of Type, the market is segmented into Bioethanol and Biodiesel.
Bioethanol is the product of fermenting or distilling a liquid. It can be made from many types of biomass, such as corn stalks and sugarcane molasses in Brazil, but is usually produced by the fermentation of sugars derived from carbohydrate crops like wheat, maize (corn), or cassava to make ethanol storing typically for fuel use. In this process, yeast converts natural starches into alcohols that have one less oxygen atom than water molecules so they will not freeze at low temperatures. Biofuels are considered carbon-neutral because over time their production releases about the same amount of CO₂ that would have been released if they had simply remained stored underground in fossil fuels form. The release into air occurs during harvesting and refinement.
Biodiesel is a diesel fuel substitute that can be used in nearly any type of diesel engine. Biofuels are typically made from plant-based oils, animal fats or waste cooking grease. In recent years biofuel production has been rising steadily due to increased awareness around sustainability and the need for clean energy sources. One major reason why biodiesel use is on the rise stems from its strong performance during colder temperatures - it does not gel up as easily when cold weather sets in which improves vehicle efficiency and reduce emissions. Biodiesel also offers an economic benefit over other biofuels because of how closely related soybean prices are to petroleum costs; there's less risk involved with this investment than some others may have higher risks associated with them such as corn.
On the basis of Application, the market is segmented into Agriculture, Transportation, and Chemicals. The market is dominated by the segment of Agricultural with a share of around 47%.
Biofuels and biodiesel can be used as ethanol or biofuel substitutes to replace fossil fuels in agriculture for energy requirements. Bioethanol obtained from biomass is mostly fermented into a liquid, while biodiesel extracted from fats or vegetable oils is converted through chemical processes into hydrocarbons that have the same chemical composition as those derived from petroleum.
Biofuels and biodiesel are used as fuels in vehicles that run on fossil fuels, such as gasoline or diesel. Specific biofuel production is required to meet the energy needs of these transportation systems. Hence, there was an increase in demand for renewable sources like ethanol due to their high octane rating when compared with petroleum-based products. Biodiesel has also been considered as one of the potential alternatives since it can be blended into diesel without any modification from original manufacturers, which reduces dependency on foreign oil imports.
The use of biofuels in the chemical industry is a new area that has gained attention recently. Bioethanol and biodiesel have been shown to be effective replacements for petrochemical-based process chemicals, which are being used at an increasing rate due to their low-cost efficiency and higher demand as a result of increased production rates seen over the last few years. The most common uses include solvents, emulsifiers, surfactants, wetting agents among others (Bridgwater). In addition to these processes within the chemical industry itself, there also exists applications, where petroleum substitutes such as ethanol from corn or sugarcane can act as fuel additives so it's possible fuels, can help reduce emissions while still generating energy through combustion.
On the basis of Region, the market is segmented into North America, Latin America, Europe, and the Asia Pacific. The North American market is expected to remain dominant in the biofuels and biodiesel market owing to the presence of a large number of producers. The Asia Pacific region is estimated to be the fastest-growing due mainly to its high population, increasing demand for fuel, rapid industrialization, and need for low-carbon fuels. The market growth in Europe is expected mainly due to strong legislation and government support for biofuels usage, increased focus on environmental sustainability, growing interest from large companies in investing in the European region.
Growing demand for biofuels and biodiesel in the global market is one of the major factors driving growth. Other important drivers include growing awareness about sustainable energy sources and increased agricultural lands, which are expected to reduce dependence on fossil fuels over time. The push by governments across the globe to curb greenhouse gas emissions is also a significant factor contributing toward this industry’s expansion as they help promote renewable fuel usage. However, stringent regulations concerning competition with conventional gasoline or diesel fuel are likely to hamper market growth substantially in some regions such as Europe owing to heavy subsidies against these alternative fuels.
Up Market Research published a new report titled “Biofuels and Biodiesel Market research report which is segmented by Types (Bioethanol, Biodiesel), By Applications (Agriculture, Transportation, Chemical, Pharmaceuticals), By Players/Companies Diester Industries, Neste Oil Rotterdam, ADM, Infinita Renovables, Biopetrol, Cargill, Ital Green Oil, Glencore, Louis Dreyfus, Renewable Energy Group, RBF Port Neches, Ag Processing, Elevance, Marathon Petroleum Corporation, Evergreen Bio Fuels, Minnesota Soybean Processors, Caramuru, Jinergy, Hebei Jingu Group, Longyan Zhuoyue, Shandong Jinjiang, Poet, Valero, Green Plains, Flint Hills Resources, Abengoa Bioenergy, Pacific Ethanol, CropEnergies, Raizen, The Andersons”.
|Report Attributes||Report Details|
|Report Title||Biofuels and Biodiesel Market Research Report|
|By Type||Bioethanol, Biodiesel|
|By Application||Agriculture, Transportation, Chemical, Pharmaceuticals|
|By Companies||Diester Industries, Neste Oil Rotterdam, ADM, Infinita Renovables, Biopetrol, Cargill, Ital Green Oil, Glencore, Louis Dreyfus, Renewable Energy Group, RBF Port Neches, Ag Processing, Elevance, Marathon Petroleum Corporation, Evergreen Bio Fuels, Minnesota Soybean Processors, Caramuru, Jinergy, Hebei Jingu Group, Longyan Zhuoyue, Shandong Jinjiang, Poet, Valero, Green Plains, Flint Hills Resources, Abengoa Bioenergy, Pacific Ethanol, CropEnergies, Raizen, The Andersons|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||238|
|Number of Tables & Figures||167|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Bioethanol, Biodiesel and By Application Agriculture, Transportation, Chemical, Pharmaceuticals.
Some of the companies that are profiled in this report are:
Biofuels and Biodiesel Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Biofuels and Biodiesel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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