Market Research Report
Liquid Biofuels Market Size, Share & Trends Analysis Report By Product (Biodiesel, Bioethanol), By Application (Transportation Fuel, Power Generation, Thermal Heating), And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||937447|
|Published||Content info||95 Pages
Delivery time: 2-3 business days
|Liquid Biofuels Market Size, Share & Trends Analysis Report By Product (Biodiesel, Bioethanol), By Application (Transportation Fuel, Power Generation, Thermal Heating), And Segment Forecasts, 2020 - 2027|
|Published: May 7, 2020||Content info: 95 Pages||
Liquid Biofuel Market Growth & Trends
The global liquid biofuels market size is expected to reach USD 107.5 billion by 2027, according to a new report by Grand View Research, Inc. It is anticipated to exhibit a revenue-based CAGR of 6.4% during the forecast period. Rising oil prices have shifted the focus of end users toward biofuels as an alternative. Moreover, the initiatives taken by major economies including U.S., Brazil, and China for supporting liquid biofuel implementation through substantial tax rebates is expected to spur market growth.
Rising demand for biofuel and growing concerns regarding energy security are other significant factors expected to drive the market growth over the forecast year. North America and European Union have created a market through energy policies which specifies the required rate of incorporation of biofuels in petroleum products.
Canadian federal government has been planning to announce carbon intensity benchmarks and necessitate all provinces to implement carbon pricing resulting in the rise in consumption of biofuels. Provincial and federal-level programs have initiated to support liquid biofuels consumption in the country.
Few of the market leaders including Green Plains Inc. and Biodico, Inc. are vertically integrated. This provides the companies with advantages in the procurement of raw material and distribution; therefore, helping them achieve economies of scale. Market leaders including Gevo Inc. and Wilmar International are continually refining their core competencies in the fields of supply chain management, project execution, and operational excellence.
Various key players operate globally in order to acquire clients through regional mergers and acquisitions, owing to restricted expansion in the higher-tier segment coupled with the failure of niche players to break the market penetration and furthermore, the customers' reliance on the service provider's expertise holds dominance over suppliers.
Liquid Biofuel Market Report Highlights
The transportation fuels share was valued at over USD 31790.5 million till 2019.
Asia Pacific is projected to expand at a substantial CAGR throughout the forecast period. Indonesia is expected to account for the largest regional share
U.S. is the primary revenue contributor to the North American biofuel market. The U.S. government has initiated several regulations to reduce their dependency on conventional fuels and carbon emissions
As per the Agricultural and Applied Economics Association Annual Meeting, 2016, 90% of Mexican energy consumption comes from fossil fuels, including transportation sector
In U.K., the bioethanol consumption is expected to increase because of an alteration of mandate in the biofuel legislation
Some of the significant industry participants include Valero Energy Corp.; Petrobras; Butamax; Renewable Energy Corp.; Bunge North America Inc.; Archer Daniels Midland Company; Gevo; Green Plains; Wilmar International; Algenol; and Pacific Ethanol Inc.