Market Research Report
Spain Biofuels & Biodiesel Market Forecast 2021-2026
|Published by||Inkwood Research||Product code||1003306|
|Published||Content info||117 Pages
Delivery time: 2-3 business days
|Spain Biofuels & Biodiesel Market Forecast 2021-2026|
|Published: May 3, 2021||Content info: 117 Pages||
The Spain biofuels & biodiesel market is anticipated to record a CAGR of 6.96% during the forecast period, 2021-2026. Spain is among the top seven MS EU Member States with regard to bioethanol production and consumption. Diesel is the main transport fuel in Spain. Bioethanol consumption in Spain was mandate-driven since January 2013.
In 2016, the bioethanol-specific target was phased out in Spain. Thereafter, bioethanol consumption was primarily dependent on its price competitiveness and the need to look over the volumetric blending limits by petrol companies. Moreover, the ethanol market in Spain has witnessed considerable demand for chemical compounds in the automobile industry. The primary factors of market growth include the growing production and consumption of ethanol as a biofuel, the increasing popularity of premium quality alcoholic beverages, changing lifestyles, and the rising number of gasoline stations offering ethanol.
Corn is the major ethanol feedstock in Spain. Thus its easy availability and efficient technologies are propelling the grain-based segment. Further, the food & beverage industry is flourishing. Urbanization and increasing disposable income drive flavored alcohol beverage consumption and the growing demand for premium quality alcohol. Such factors are estimated to drive the biofuels & biodiesel market growth in Spain.
Some eminent companies in the market are IUCT, PERTAMINA, UCO Trading Spain SL, Abengoa Bioenergia SA, Eurosmc SA, Ecohispancia, etc.