PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1767745
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1767745
Advanced Biofuel Market is estimated to be valued at USD 178.97 Bn in 2025 and is expected to reach USD 2,000.75 Bn by 2032, growing at a compound annual growth rate (CAGR) of 41.18% from 2025 to 2032.
Report Coverage | Report Details | ||
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Base Year: | 2024 | Market Size in 2025: | USD 178.97 Bn |
Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
Forecast Period 2025 to 2032 CAGR: | 41.18% | 2032 Value Projection: | USD 2,000.75 Bn |
Advanced biofuel, commonly known as second generation biofuel, is obtained by using organic, municipal, and industrial wastes as feedstock. These low-cost advanced biofuel helps to extend the energy mix and decreases the dependency on conventional fuels globally. Advanced biofuel reduces carbon emission and exhibits commercial possibilities Examples include algae, corn stalks, switchgrass or methane released by microbial activity in landfills. Among many other benefits, algae can be used to create biofuels similar in composition to current transportation fuels., leading to increased demand for its production, in turn driving growth of the global advanced biofuel market.
Global advanced biofuel market is expected to be dominated by North America, followed by Europe. This is mainly attributed to increasing R&D activities and supportive government policies in that region. The R&D framework of National Alliance for Advanced Biofuel and Bio-products (NAABB) in U.S. includes algal biology to increase the strain productivity. It has developed an algal transformation pipeline to increase biomass yield and lipid production. However, Asia Pacific is expected to witness highest growth as Asia Pacific was valued at US$ 13.12 Billion in 2022 due to rapidly growing biofuel or advanced biofuel manufacturing industry and increasing awareness towards usage of advanced biofuel in China and India.
Growing market for renewable energy, increasing investments, and encouraging regulations related to environment, fuels the growth of the global advanced biofuel market, Increasing Greenhouse gas (GHG) emissions in the atmosphere has boosted the research interest of the scientists towards the renewable energy. Asia Pacific is expected to witness increasing demand for advanced biofuel across the automotive end-use industry. Stringent government policies related to the change in usage of land and use of renewable sources has compelled manufacturers and researchers to innovate and develop new technology, which can replace fossil fuel.
This report segments the global advanced biofuel market on the basis of fuel type, raw materials, by Region and process type. On the basis of fuel type, the global advanced biofuel market is segmented into cellulosic ethanol, biodiesel, biobutanol, BioDME, and others. On the basis of raw material, the market is segmented into jatropha, camelina, algae, simple lignocellulose, complex cellulose, and others. On basis of process type, the market is segmented into biochemical process and thermochemical process.
Key features of the study
This report provides in-depth analysis of advanced biofuel and provides market size (USD Bn & Kilo Tons) and Compound Annual Growth Rate (CAGR %) for the forecast period 2025-2032, considering 2024 as the base year.