Global Biofuels Market by Form (Solid, Liquid, Gaseous) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Summary of the Report
Global biofuels market was valued at USD 135.7 million in 2019. It is projected to grow at a compound annual rate (CAGR of) 6.9% during the forecast period. The types of biofuels are fuels made from plant, animal, and algae materials. Because the feedstock material used can be replenished faster than conventional fossil fuels, they are considered a renewable fuel.
The market will be driven by limited availability of fossil fuel-based resources, and increasing awareness about carbon emissions. The demand for biofuels in transportation will be boosted by the availability of tax incentives and supporting regulations around the globe.
The United States has been a leader in developing and utilizing biofuels globally. HTML3_ Bioethanol HTML3_ is a majorly used biofuel in the United States. It is mainly made from corn and can be found in abundance in the U.S. The blend of gasoline and bioethanol results in the widespread adoption of biofuels.
The U.S. government also plays a significant role in promoting the production and use of biofuels throughout the country. In 2007, the Energy Independence and Security Act (EISA), states that biofuel blending mandates are being implemented in the U.S. It has maintained a target that transportation fuels must contain at least 36.0 billion gallons of biofuels as blending by 2022. The market will be driven by favorable policies and tax incentives in America during the forecast period.
The future of biofuels is being looked at as a cleaner alternative to conventional fossil fuels. Their adoption will be boosted by the availability of funding for research and development to develop biofuels at lower costs. The market will also grow if there is continued research to commercialize second- and third-generation biofuels.
Biofuels can be made from corn, soybeans and oil palms. These are food crops. These crops can also be used to produce biofuels in large quantities, which can lead to a shortage of food products made of these crops. This can impact the food prices and raise questions about food security. This could affect the growth of the market over the forecast period in certain countries or regions around the globe.
Form Insights
In 2019, the fluid biofuel form segment accounted for 73.4% of total revenue. This is due to a growing focus on energy security and the application of liquid biofuels into flexible-fuel vehicles. Bioethanol blending mandates in different countries have also influenced the use of liquid biofuels.
Solid biofuels can be made from crops, wood pellets, and agriculture products. These fuels come in liquid form such as bioethanol or biodiesel, while gaseous forms include products such biogas and/or biohydrogen.
With a CAGR of 8.5% based on revenue, the solid biofuel segment was the fastest growing segment in the biofuels industry during the forecast period. This growth can be attributed to the increased adoption and deployment biomass power for electricity generation. Solid biofuels are also becoming a viable alternative to conventional fossil fuels for space heating in commercial and residential buildings.
Due to the increased use of gaseous fuels in applications like electricity generation and transportation fuel, the gaseous segment of the market was second in 2019. The gaseous biofuel form is also being used for cooking, as it is a more sustainable alternative to liquid petroleum gas.
Regional Insights
North America had a 38.6% market share in terms of revenue in 2019, due to its large supply of biofuel feedstock. The region has the infrastructure and policies that support the production of these fuels. This will lead to a growth market.
Brazil, the U.S. and China are likely to drive major growth. Other countries are expected to see significant growth in the sector, including India, Thailand and the Netherlands. This is due to a rising awareness of carbon emissions and a better utilization of fuels.
Canadian Clean Fuels Standard (CFS), which is expected to apply different norms for liquid, gaseous and solid biofuels, that are used for transportation energy production, will also be in effect. Canada's government has been focusing on a reduction of 30 Mt annually in GHG emissions. This contributes to the country's overall goal of reducing GHG emissions by 30% by 2030.
Asia Pacific is expected to experience the highest volume-based CAGR at 6.4% over the forecast period, compared to other regions. The introduction and increase in biofuel-supporting policies and regulations in countries like India, China, Australia, Indonesia, and Australia are expected to drive demand for biofuels in transportation, where they can be blended with traditional fossil fuels.
Market Share Insights & Key Companies
Companies are now focusing more on long-term value. Some of the most prominent market players in the region have implemented supportable strategies for sourcing long-term contracts. To gain market share, the major market players are using a strong and low-risk strategy.
In order to meet the increasing demand, these companies have begun to increase their business through mergers and acquisitions. ADM, Valero Energy Corporation, Green Plains, Butamax, Pacific Ethanol Inc., and Renewable Energy Group, Inc. (REG), have all acquired companies around the world to keep their market dominance. The following are some of the most prominent players in the biofuels industry:
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Bunge Limited
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Archer Daniels Midland Company
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Valero Energy Corp.
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Petrobras
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Butamax
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Renewable Energy Corp.
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Wilmar International
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Algenol
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Pacific Ethanol Inc.
Up Market Research published a new report titled “Biofuels Market research report which is segmented by Form (Solid, Liquid, Gaseous), By Players/Companies Valero Energy Corp, Algenol, Bunge Limited, Petrobras, Archer Daniels Midland Company, Pacific Ethanol Inc, Renewable Energy Corp, Wilmar International, Butamax”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
| Report Attributes | Report Details |
| Report Title | Biofuels Market Research Report |
| By Form | Solid, Liquid, Gaseous |
| By Companies | Valero Energy Corp, Algenol, Bunge Limited, Petrobras, Archer Daniels Midland Company, Pacific Ethanol Inc, Renewable Energy Corp, Wilmar International, Butamax |
| Regions Covered | North America, Europe, APAC, Latin America, MEA |
| Base Year | 2020 |
| Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
| Forecast Year | 2028 |
| Number of Pages | 213 |
| Number of Tables & Figures | 150 |
| 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.
Global Biofuels Market Report Segments:
The market is segmented by Form (Solid, Liquid, Gaseous).
Biofuels 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:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Biofuels Market
Overview of the regional outlook of the Biofuels Market:
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.
Highlights of The Biofuels Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Biofuels Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Solid
2. Liquid
3. Gaseous
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Biofuels 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
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Reasons to Purchase the Biofuels Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Biofuels Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Biofuels Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Biofuels Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Biofuels Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Biofuels Market Size & Forecast, 2018-2028
4.5.1 Biofuels Market Size and Y-o-Y Growth
4.5.2 Biofuels Market Absolute $ Opportunity
Chapter 5 Global Biofuels Market Analysis and Forecast by Form
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Form
5.1.2 Basis Point Share (BPS) Analysis by Form
5.1.3 Absolute $ Opportunity Assessment by Form
5.2 Biofuels Market Size Forecast by Form
5.2.1 Solid
5.2.2 Liquid
5.2.3 Gaseous
5.3 Market Attractiveness Analysis by Form
Chapter 6 Global Biofuels Market Analysis and Forecast by Region
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Region
6.1.2 Basis Point Share (BPS) Analysis by Region
6.1.3 Absolute $ Opportunity Assessment by Region
6.2 Biofuels Market Size Forecast by Region
6.2.1 North America
6.2.2 Europe
6.2.3 Asia Pacific
6.2.4 Latin America
6.2.5 Middle East & Africa (MEA)
6.3 Market Attractiveness Analysis by Region
Chapter 7 Coronavirus Disease (COVID-19) Impact
7.1 Introduction
7.2 Current & Future Impact Analysis
7.3 Economic Impact Analysis
7.4 Government Policies
7.5 Investment Scenario
Chapter 8 North America Biofuels Analysis and Forecast
8.1 Introduction
8.2 North America Biofuels Market Size Forecast by Country
8.2.1 U.S.
8.2.2 Canada
8.3 Basis Point Share (BPS) Analysis by Country
8.4 Absolute $ Opportunity Assessment by Country
8.5 Market Attractiveness Analysis by Country
8.6 North America Biofuels Market Size Forecast by Form
8.6.1 Solid
8.6.2 Liquid
8.6.3 Gaseous
8.7 Basis Point Share (BPS) Analysis by Form
8.8 Absolute $ Opportunity Assessment by Form
8.9 Market Attractiveness Analysis by Form
Chapter 9 Europe Biofuels Analysis and Forecast
9.1 Introduction
9.2 Europe Biofuels Market Size Forecast by Country
9.2.1 Germany
9.2.2 France
9.2.3 Italy
9.2.4 U.K.
9.2.5 Spain
9.2.6 Russia
9.2.7 Rest of Europe
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 Europe Biofuels Market Size Forecast by Form
9.6.1 Solid
9.6.2 Liquid
9.6.3 Gaseous
9.7 Basis Point Share (BPS) Analysis by Form
9.8 Absolute $ Opportunity Assessment by Form
9.9 Market Attractiveness Analysis by Form
Chapter 10 Asia Pacific Biofuels Analysis and Forecast
10.1 Introduction
10.2 Asia Pacific Biofuels Market Size Forecast by Country
10.2.1 China
10.2.2 Japan
10.2.3 South Korea
10.2.4 India
10.2.5 Australia
10.2.6 South East Asia (SEA)
10.2.7 Rest of Asia Pacific (APAC)
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Asia Pacific Biofuels Market Size Forecast by Form
10.6.1 Solid
10.6.2 Liquid
10.6.3 Gaseous
10.7 Basis Point Share (BPS) Analysis by Form
10.8 Absolute $ Opportunity Assessment by Form
10.9 Market Attractiveness Analysis by Form
Chapter 11 Latin America Biofuels Analysis and Forecast
11.1 Introduction
11.2 Latin America Biofuels Market Size Forecast by Country
11.2.1 Brazil
11.2.2 Mexico
11.2.3 Rest of Latin America (LATAM)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Latin America Biofuels Market Size Forecast by Form
11.6.1 Solid
11.6.2 Liquid
11.6.3 Gaseous
11.7 Basis Point Share (BPS) Analysis by Form
11.8 Absolute $ Opportunity Assessment by Form
11.9 Market Attractiveness Analysis by Form
Chapter 12 Middle East & Africa (MEA) Biofuels Analysis and Forecast
12.1 Introduction
12.2 Middle East & Africa (MEA) Biofuels Market Size Forecast by Country
12.2.1 Saudi Arabia
12.2.2 South Africa
12.2.3 UAE
12.2.4 Rest of Middle East & Africa (MEA)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Middle East & Africa (MEA) Biofuels Market Size Forecast by Form
12.6.1 Solid
12.6.2 Liquid
12.6.3 Gaseous
12.7 Basis Point Share (BPS) Analysis by Form
12.8 Absolute $ Opportunity Assessment by Form
12.9 Market Attractiveness Analysis by Form
Chapter 13 Competition Landscape
13.1 Biofuels Market: Competitive Dashboard
13.2 Global Biofuels Market: Market Share Analysis, 2019
13.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
13.3.1 Valero Energy Corp
13.3.2 Algenol
13.3.3 Bunge Limited
13.3.4 Petrobras
13.3.5 Archer Daniels Midland Company
13.3.6 Pacific Ethanol Inc
13.3.7 Renewable Energy Corp
13.3.8 Wilmar International
13.3.9 Butamax
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Biofuels Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Biofuels Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Biofuels Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Biofuels Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Biofuels Market Size & Forecast, 2018-2028
4.5.1 Biofuels Market Size and Y-o-Y Growth
4.5.2 Biofuels Market Absolute $ Opportunity
Chapter 5 Global Biofuels Market Analysis and Forecast by Form
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Form
5.1.2 Basis Point Share (BPS) Analysis by Form
5.1.3 Absolute $ Opportunity Assessment by Form
5.2 Biofuels Market Size Forecast by Form
5.2.1 Solid
5.2.2 Liquid
5.2.3 Gaseous
5.3 Market Attractiveness Analysis by Form
Chapter 6 Global Biofuels Market Analysis and Forecast by Region
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Region
6.1.2 Basis Point Share (BPS) Analysis by Region
6.1.3 Absolute $ Opportunity Assessment by Region
6.2 Biofuels Market Size Forecast by Region
6.2.1 North America
6.2.2 Europe
6.2.3 Asia Pacific
6.2.4 Latin America
6.2.5 Middle East & Africa (MEA)
6.3 Market Attractiveness Analysis by Region
Chapter 7 Coronavirus Disease (COVID-19) Impact
7.1 Introduction
7.2 Current & Future Impact Analysis
7.3 Economic Impact Analysis
7.4 Government Policies
7.5 Investment Scenario
Chapter 8 North America Biofuels Analysis and Forecast
8.1 Introduction
8.2 North America Biofuels Market Size Forecast by Country
8.2.1 U.S.
8.2.2 Canada
8.3 Basis Point Share (BPS) Analysis by Country
8.4 Absolute $ Opportunity Assessment by Country
8.5 Market Attractiveness Analysis by Country
8.6 North America Biofuels Market Size Forecast by Form
8.6.1 Solid
8.6.2 Liquid
8.6.3 Gaseous
8.7 Basis Point Share (BPS) Analysis by Form
8.8 Absolute $ Opportunity Assessment by Form
8.9 Market Attractiveness Analysis by Form
Chapter 9 Europe Biofuels Analysis and Forecast
9.1 Introduction
9.2 Europe Biofuels Market Size Forecast by Country
9.2.1 Germany
9.2.2 France
9.2.3 Italy
9.2.4 U.K.
9.2.5 Spain
9.2.6 Russia
9.2.7 Rest of Europe
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 Europe Biofuels Market Size Forecast by Form
9.6.1 Solid
9.6.2 Liquid
9.6.3 Gaseous
9.7 Basis Point Share (BPS) Analysis by Form
9.8 Absolute $ Opportunity Assessment by Form
9.9 Market Attractiveness Analysis by Form
Chapter 10 Asia Pacific Biofuels Analysis and Forecast
10.1 Introduction
10.2 Asia Pacific Biofuels Market Size Forecast by Country
10.2.1 China
10.2.2 Japan
10.2.3 South Korea
10.2.4 India
10.2.5 Australia
10.2.6 South East Asia (SEA)
10.2.7 Rest of Asia Pacific (APAC)
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Asia Pacific Biofuels Market Size Forecast by Form
10.6.1 Solid
10.6.2 Liquid
10.6.3 Gaseous
10.7 Basis Point Share (BPS) Analysis by Form
10.8 Absolute $ Opportunity Assessment by Form
10.9 Market Attractiveness Analysis by Form
Chapter 11 Latin America Biofuels Analysis and Forecast
11.1 Introduction
11.2 Latin America Biofuels Market Size Forecast by Country
11.2.1 Brazil
11.2.2 Mexico
11.2.3 Rest of Latin America (LATAM)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Latin America Biofuels Market Size Forecast by Form
11.6.1 Solid
11.6.2 Liquid
11.6.3 Gaseous
11.7 Basis Point Share (BPS) Analysis by Form
11.8 Absolute $ Opportunity Assessment by Form
11.9 Market Attractiveness Analysis by Form
Chapter 12 Middle East & Africa (MEA) Biofuels Analysis and Forecast
12.1 Introduction
12.2 Middle East & Africa (MEA) Biofuels Market Size Forecast by Country
12.2.1 Saudi Arabia
12.2.2 South Africa
12.2.3 UAE
12.2.4 Rest of Middle East & Africa (MEA)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Middle East & Africa (MEA) Biofuels Market Size Forecast by Form
12.6.1 Solid
12.6.2 Liquid
12.6.3 Gaseous
12.7 Basis Point Share (BPS) Analysis by Form
12.8 Absolute $ Opportunity Assessment by Form
12.9 Market Attractiveness Analysis by Form
Chapter 13 Competition Landscape
13.1 Biofuels Market: Competitive Dashboard
13.2 Global Biofuels Market: Market Share Analysis, 2019
13.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
13.3.1 Valero Energy Corp
13.3.2 Algenol
13.3.3 Bunge Limited
13.3.4 Petrobras
13.3.5 Archer Daniels Midland Company
13.3.6 Pacific Ethanol Inc
13.3.7 Renewable Energy Corp
13.3.8 Wilmar International
13.3.9 Butamax
Segments Covered in the Report
The global Biofuels market has been segmented based on
By Form
The global Biofuels market has been segmented based on
By Form
- Solid
- Liquid
- Gaseous
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Valero Energy Corp
- Algenol
- Bunge Limited
- Petrobras
- Archer Daniels Midland Company
- Pacific Ethanol Inc
- Renewable Energy Corp
- Wilmar International
- Butamax
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