Biofuels Market by Type, Feedstock, End-Use

List of Tables

[181 Pages Report] The Biofuels Market size was estimated at USD 166.66 billion in 2023 and expected to reach USD 175.87 billion in 2024, at a CAGR 5.61% to reach USD 244.35 billion by 2030.

Biofuels refers to nontoxic and biodegradable liquid fuel produced from renewable sources such as plant, algal, or animal biomass and is used as an alternative to conventional fossil fuels. Biofuel, including bioalcohols, biodiesel, vegetable oil, bioethers, and biogas, has been utilized for heating, power generation, and transportation purposes. They facilitate high engine performance and are associated with lower carbon emissions. The pressing need for renewable sources of energy and growing concerns about the sustainability of using fossil fuels have led to a surge in the adoption of biofuels. Additionally, the government's focus on promoting the adoption of clean energy is rapidly expanding, and many of these initiatives involve investments in biofuels. Governments across the world are also offering subsidies, tax benefits, and incentives to producers of biofuel and clean energy sources to promote their sustainability goals. Performance concerns and the presence of counterfeit or fake biofuels raise concerns about the reliability of biofuel products. Due to the complexity of the biofuel biomass and issues related to the transport of biofuels to refineries, the production process of biofuels is cumbersome. To overcome such challenges, major players are rapidly investing in advanced technology that can tackle issues related to the manufacture of biofuels and are experimenting with novel and innovative sources of biofuels by increasing investment in R&D.

KEY MARKET STATISTICS
Base Year [2023]	USD 166.66 billion
Estimated Year [2024]	USD 175.87 billion
Forecast Year [2030]	USD 244.35 billion
CAGR (%)	5.61%

Type: Advancements in the technologies used to produce efficient and cost-effective biodiesel

Biodiesel is a renewable and biodegradable fuel obtained from plant oils, animal fats, or recycled cooking grease. It can be used as a standalone fuel or mixed in varying proportions with traditional fuels. Biodiesel offers environmental benefits such as reduced greenhouse gas emissions and improved air quality compared to fossil fuels. Additionally, biodiesel's lower sulfur content makes it attractive to industries required to comply with stringent environmental regulations. Ethanol is an alcohol-based biofuel produced mainly from the fermentation of sugar or starch-rich crops like corn and sugarcane. Biogas refers to a type of renewable energy source produced under anaerobic conditions by the degradation of organic matter by certain species of bacteria. Biogas is a widely used fuel source to produce electricity and power local grids.

Feedstock: Rising utilization of ethanol as feedstock in emerging economies

Corn grain is utilized as a biofuel feedstock due to its higher starch content and easy conversion to ethanol. Infrastructure advancements that improve the planting, harvesting, and storing of corn biomass have benefited the corn biofuel industry. Sugarcane ethanol is an alcohol-based biofuel that is produced by the action of fermentation of sugarcane juice and molasses. Sugarcane, when used as a feedstock for biofuel, can maintain the ecological balance and contribute to the diversification of energy sources. Soybean oil is currently a major feedstock for the production of biodiesel (NBB), while algal biomass can be converted into diverse biofuels, including bioethanol, biodiesel, and biogas. Waste cooking oil refers to waste generated after food has been cooked or fried with vegetable oils. The utilization of waste cooking oil to produce biodiesel can reduce the raw material cost.

End-use: Rising sustainability concerts driving adoption of biofuels in power generation

Biofuels for transport and power generation are utilized as part of a strategy that aims to improve fuel security, mitigate climate change, reduce dependence on oil supplies, and support rural development. An aviation biofuel or bio-jet fuel refers to a type of biofuel used in aviation industries to power aircraft. Efforts to reduce the carbon footprint and emissions in the aviation industry have led to a surge in the adoption of biofuels in aircraft. In manufacturing industries such as oil and petroleum industries, bio-ethanol can be blended with regular petrol to perform regular operations.

Regional Insights

In the Americas investments to improve adoption of biofuels is rapidly expanding with the rising government initiatives. Governments in the USA and Canada also offer subsidies to manufacturers of common biofuel sources. The US Department of Energy's Bioenergy Technologies Office (BETO) has invested in research to improve the efficiency of biofuels production. Rising awareness to reduce reliance on oil supplies led to the adoption of biofuels in countries such as Brazil, Canada, and the USA. The European nations aim to increase utilization of biofuels to cut down carbon emissions associated with the transportation industry. Effort to introduce sustainable aviation and space exploration has led to a surge in demand for biofuels in the European industries. China is rapidly emerging as a dominant player in the global biofuels market, driven by its strong commitment towards clean energy sources and reducing carbon emissions. In addition, China and Japan have filed several patents related to advanced technologies for improving biofuel production efficiency.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Biofuels Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Biofuels Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Biofuels Market, highlighting leading vendors and their innovative profiles. These include Abengoa S.A., Air Liquide S.A., Alto Ingredients, Inc., Archer-Daniels-Midland Company, Bangchak Corporation Public Company Limited, Cargill, Incorporated, DuPont de Nemours, Inc., Enerkem Inc., Gevo, Inc., Green Plains Inc., Indian Oil Corporation Limited, Koninklijke DSM N.V., Munzer Bioindustrie GmbH, POET, LLC, Praj Industries Limited, Renewable Energy Group, Inc., Scandinavian Biogas Fuels International AB, Shell PLC, Shree Renuka Sugars Ltd., Sunoil Biodiesel Emmen, TotalEnergies SE, Valero Energy Corporation, and VERBIO Vereinigte BioEnergie AG.

Market Segmentation & Coverage

This research report categorizes the Biofuels Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Biodiesel
- Biogas
- Ethanol

Feedstock
- Coarse Grain
- Jetropha
- Lard & Choice White Grease
- Molasses
- Poultry
- Sugar Crop
- Tallow
- Vegetable Oil

End-Use
- Aviation
- Manufacturing
- Power Generation
- Transportation

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Biofuels Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Biofuels Market?

3. What are the technology trends and regulatory frameworks in the Biofuels Market?

4. What is the market share of the leading vendors in the Biofuels Market?

5. Which modes and strategic moves are suitable for entering the Biofuels Market?

Product Code: MRR-434CCDA04B8D

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing need for renewable sources of energy
  - 5.1.1.2. Government incentives and initiatives to propel the adoption of clean energy
  - 5.1.1.3. Utilization of biofuels for heating, power generation, and transportation
- 5.1.2. Restraints
  - 5.1.2.1. Performance concerns and the presence of counterfeit biofuels
- 5.1.3. Opportunities
  - 5.1.3.1. Development of novel and innovative biofuels
  - 5.1.3.2. Application of biofuels in sustainable and smart cities
- 5.1.4. Challenges
  - 5.1.4.1. Production process challenges and lack of standardization
5.2. Market Segmentation Analysis
- 5.2.1. Type: Advancements in the technologies used to produce efficient and cost-effective biodiesel
- 5.2.2. Feedstock: Rising utilization of ethanol as feedstock in emerging economies
- 5.2.3. End-use: Rising sustainability concerts driving adoption of biofuels in power generation
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Biofuels Market, by Type

6.1. Introduction
6.2. Biodiesel
6.3. Biogas
6.4. Ethanol

7. Biofuels Market, by Feedstock

7.1. Introduction
7.2. Coarse Grain
7.3. Jetropha
7.4. Lard & Choice White Grease
7.5. Molasses
7.6. Poultry
7.7. Sugar Crop
7.8. Tallow
7.9. Vegetable Oil

8. Biofuels Market, by End-Use

8.1. Introduction
8.2. Aviation
8.3. Manufacturing
8.4. Power Generation
8.5. Transportation

9. Americas Biofuels Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Biofuels Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Biofuels Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Origin Materials and Proman Partner to Produce Low-Carbon Biofuels
- 12.3.2. Mitsubishi Corporation invests in Swedish Biofuels
- 12.3.3. KBR Launches Sustainable Aviation Fuel Technology in Alliance with Swedish Biofuels
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio