PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1193437
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1193437
Next Generation Biofuels Market size was valued at USD 6,307.3 Million in 2023, expanding at a CAGR of 30.7% from 2023 to 2030.
With the help of non-food crops, such as agricultural residue, waste from food crops, waste cooking oil, and wood chips, the next generation of biofuels are produced. The non-edible byproduct of food crops is the feedstock for next-generation biofuels. Examples of second-generation feedstock that are primarily used for the creation of next-generation biofuels are corn husks from corn farming and wheat straw from wheat agriculture.
Market Dynamics
The global market for next-generation biofuels has grown as awareness of the need to reduce carbon emissions and the pressure to generate sustainable, clean energy with little environmental impact has increased. The problems of environmental change and energy security may be solved by the use of biofuels because they are affordable. Additionally, the energy production of next-generation biofuels is far higher than that of conventional fossil fuels and they are also environmentally beneficial. However, challenges including high production costs, a lack of appropriate value, a broken supply chain, and improper regulations are some of the major things that could prevent the industry from expanding. Additionally, the development of next-generation biofuels is expanding in nations with little to no petroleum reserves since it will assist those nations reduce their reliance on imports of biofuels.
Further, the market participants are expected to benefit financially from increased emphasis on biofuel blends and favorable government regulations for cleaner and greener energy sources. The Covid-19 outbreak prevented manufacturing and processing operations across the power generation and other industries, which hindered the growth of the next-generation biofuel sector. Additionally, due to a scarcity of labourers and an increase in the demand-supply imbalance, construction of new electric utility infrastructure, the grid network, and renewable power plants has been put on hold. In countries with little or no petroleum reserves, development of the next generation of biofuels is increasing since it will reduce the need for imports of biofuels.
Segmentation Analysis:
The Global Next Generation Biofuels Market is segmented on the basis of Type, Process, Application, and Region.
The market is split into four categories based on Type: biogas, biodiesels, and biobutanol. The biogas segment dominates the market. Growing utilization of biogas in industrial and residential sector is mainly contributing to segment growth.
The market is segmented into two categories based on Process: thermochemical and biochemical process. The biochemical segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to a rise in the demand for biochemical processed biofuels.
The market is segmented into five categories based on Application: transportation and power generation. The power generation segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the demand for next generation biofuels in power generation across industrial and residential sectors which in turn is boosting the segment growth.
Competitive Landscape:
The worldwide market for next generation biofuels is highly fragmented in nature which comprised of large and small-sized market players with few large dominating the global market share. The companies in market emphasize on adopting aggressive strategies to reach out large consumer base. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new Type launches, partnerships, distribution network development, R&D spending, and mergers and acquisitions.
For instance, in April 2023, Enerkem closes $255 million financing round from Repsol and Monarch to drive its growth and deployment of its leading gasification technology.
Key features of the study:
This proposed research study on Next Generation Biofuels market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2023 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Next Generation Biofuels market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Next Generation Biofuels market
Impact of COVID-19 on Next Generation Biofuels market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Next Generation Biofuels market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Next Generation Biofuels market, we have also included competitive landscape and key innovator analysis for the Next Generation Biofuels market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Next Generation Biofuels market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Next Generation Biofuels market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL NEXT GENERATION BIOFUELS MARKET KEY PLAYERS
Chemtex Group
Algenol Biofuels
Enerkem
Abengoa S.A.
GranBio
Gevo
POET-DSM
Joule United, Inc.
Solazyme
Sundrop Fuels Inc
Virent
Green Biologics
HCL Cleantech
GlycosBio
Bankchak Petroleum
GLOBAL NEXT GENERATION BIOFUELS MARKET, BY TYPE
Biodiesels
Biogas
Biobutanol
Others
GLOBAL NEXT GENERATION BIOFUELS MARKET, BY PROCESS
Biochemical process
Thermochemical process
GLOBAL NEXT GENERATION BIOFUELS MARKET, BY APPLICATION
Transportation
Power generation
GLOBAL NEXT GENERATION BIOFUELS MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA