Biofuels Global Market Report 2024

Description

“Biofuels Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on biofuels market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for biofuels? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The biofuels market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Form: Solid Biofuel; Liquid Biofuel; Gaseous Biofuel
2) By Product Type: Biodiesel; Ethanol; Biogas; Others Products
3) By Feedstock: Coarse Grain; Non-agri Feedstock; Biomass; Vegetable Oil; Sugar Crop; Jatropha; Other Feedstocks
Companies Mentioned: The Archer-Daniels-Midland Company; Abengoa S. A.; Renewable Energy Corporation; Wilmar International Limited; Poet LLC
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Biofuel refers to a cleaner-burning alternative to petroleum-based diesel fuel made from renewable sources such as new and old vegetable oils and animal fats. It is a harmless and biodegradable substance created by mixing alcohol with vegetable oil, animal fat, or recycled cooking grease. The primary purpose of biofuels is to help reduce the carbon footprint of transportation and other industries.

The main form of biofuels are solid biofuel, liquid biofuel, and gaseous biofuel. The solid biofuel of biofuel is a solid form of biofuel used as fuel for the generation of heat or electricity. The biofuel product is biodiesel, ethanol, biogas, and other products that are derived from feedstocks such as coarse grain, non-agri feedstock, biomass, vegetable oil, sugar crop, jatropha and other feedstocks.

The biofuels market research report is one of a series of new reports from The Business Research Company that provides biofuels market statistics, including biofuels industry global market size, regional shares, competitors with a biofuels market share, detailed biofuels market segments, market trends and opportunities, and any further data you may need to thrive in the biofuels industry. This biofuels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The biofuels market size has grown strongly in recent years. It will grow from $163. 86 billion in 2023 to $176. 59 billion in 2024 at a compound annual growth rate (CAGR) of 7. 8%. The growth in the historic period can be attributed to energy security concerns, volatility in oil prices, government incentives.

The biofuels market size is expected to see strong growth in the next few years. It will grow to $240. 55 billion in 2028 at a compound annual growth rate (CAGR) of 8. 0%. The growth in the forecast period can be attributed to renewable energy targets, advancements in feedstock production, rising public awareness, emerging economies' adoption. Major trends in the forecast period include advanced biofuels development, technological innovations, integration with conventional fuels, market consolidation.

Increased petroleum prices are expected to propel the growth of the biofuel market. Rising crude oil costs and increased taxation have consistently contributed to increased petrol and diesel prices across the world. Furthermore, the Russia-Ukraine war is one of the primary reasons for the rapid spike in global petroleum prices. Several other reasons have also led to rising crude oil prices, including market tightness and uncertainty about demand and supply, geopolitical developments, fears of future supply disruptions, and speculation that impacted the petroleum market. Due to such a rise in petroleum prices, there is a greater demand for biofuel as an alternative which is derived from renewable resources and are less combustible than fossil diesel. It helps to reduce the carbon footprint of transportation and other businesses. For Instance, according to a 2021 report published by Our world in data on crude oil prices, the global crude oil prices per barrel US dollars have increased from $41. 84 in 2020 to $70. 91 in 2021. Therefore, the increasing petroleum prices will drive the biofuel market.

The rising demand for energy in the transportation sector is expected to propel the growth of the process oil market going forward. The transportation sector refers to the industry involved in the movement of people and goods from one place to another. Biofuels can be used as an alternative or blend with traditional fuels in the transportation industry, reducing the carbon footprint and meeting regulatory requirements for cleaner energy sources. For instance, in September 2023, the International Air Transport Association (IATA), a Canada-based trade association representing the airline industry, reported a significant increase in total traffic for July 2023, with a 26. 2% rise compared to July 2022, resulting in the highest-ever recorded July revenue passenger kilometers (RPKs). Therefore, the rising passenger traffic in the transportation sector is expected to propel the growth of the biofuels market.

Technological advancements are a key trend gaining popularity in the biofuel market. Advanced biofuels are gaining popularity due to their compatibility with existing fuel infrastructure and high energy densities. Advanced biofuel technologies are recognized as green energy sources. Recently, the market has witnessed the use of advanced bio-hydrocarbons generated from lignocellulosic biomass such as trees, grasses, trash, and agricultural residues. Major companies operating in the biofuel market are focused on developing new technological solutions to strengthen their market position. For instance, In February, Clariant, a Europe-based chemical company, introduced a line of Vita surfactants and polyethylene glycols (PEGs) made entirely of bio-based, renewable carbon derived from plants. The new Vita products are designed for natural formulations with a high Renewable Carbon Index (RCI) and assist manufacturers in maximizing the use of bio-based carbon content in consumer products, that include detergents, hair and shower gel, paints, industrial lubricants, and crop treatments.

Major companies operating in the biofuels market are introducing innovative solution, such as comprehensive fermentation solution, to gain a competitive edge in the market. Comprehensive fermentation solution is designed to improve ethanol yield and reduce energy consumption in the production process. For instance, in November 2021, Novozymes, a Denmark-based biotechnology company, launched Innova Quantum, a comprehensive fermentation solution comprising advanced yeast and tailored enzymes. Innova Quantum is a drop-in solution that provides the most efficient sugar conversion and is specifically designed for longer fermentations (>60 hours). It offers superior robustness, ethanol tolerance, fermentation speed, and ethanol yields. Innova Quantum is designed for longer fermentations, enhancing efficiency and sustainability in the biofuel market.

In January 2022, ExxonMobil, a US-based natural gas company, acquired a 49. 9% stake in Biojet AS. This acquisition allows ExxonMobil to purchase up to 3 million barrels of the products yearly, based on capacity. Furthermore, this collaboration with Biojet AS strengthens ExxonMobil's efforts to provide low-emissions transportation products. Biojet AS is a Norwegian-based biofuels company that intends to turn forestry and wood-based construction waste into low-emission biofuels.

Major companies operating in the in the biofuels market report are The Archer-Daniels-Midland Company, Abengoa S. A., Renewable Energy Corporation, Wilmar International Limited, Poet LLC, Praj Industries Limited, Raven SR Inc., Shell PLC, Sustainable Oils, UPM-Kymmene Oyj, Velocys Inc., Virent Energy Systems Inc., Aemetis Inc., Amyris Inc., Anellotech Inc., Avantium Technologies B. V., Axens Technologies (IFP), Cargill Inc., Chevron Corporation, Clariant International AG, Corbion N. V., DG Fuels, Diamond Green Diesel LLC, Dimeta, DMC Biotechnologies Inc., Enerkem Inc., Fidelis New Energy LLC, Fluid Quip Technologies LLC, Genofuel, Gevo Inc., Ginkgo BioWorks, GranBio, Green Plains Inc., Haldor Topsoe A/S, Honeywell International Inc.

North America was the largest region in the biofuel market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biofuels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the biofuels market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The biofuel market consists of sales of methanol, butanol and biogas. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10201

1. Executive Summary

2. Biofuels Market Characteristics

3. Biofuels Market Trends And Strategies

4. Biofuels Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Biofuels Market Size and Growth

5.1. Global Biofuels Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Biofuels Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Biofuels Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Biofuels Market Segmentation

6.1. Global Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solid Biofuel
Liquid Biofuel
Gaseous Biofuel
6.2. Global Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Biodiesel
Ethanol
Biogas
Others Products
6.3. Global Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Coarse Grain
Non-agri Feedstock
Biomass
Vegetable Oil
Sugar Crop
Jatropha
Other Feedstocks

7. Biofuels Market Regional And Country Analysis

7.1. Global Biofuels Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Biofuels Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Biofuels Market

8.1. Asia-Pacific Biofuels Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Biofuels Market

9.1. China Biofuels Market Overview
9.2. China Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Biofuels Market

10.1. India Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Biofuels Market

11.1. Japan Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Biofuels Market

12.1. Australia Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Biofuels Market

13.1. Indonesia Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Biofuels Market

14.1. South Korea Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Biofuels Market

15.1. Western Europe Biofuels Market Overview
15.2. Western Europe Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Biofuels Market

16.1. UK Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Biofuels Market

17.1. Germany Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Biofuels Market

18. 5. France Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Biofuels Market

19. 9. Italy Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Biofuels Market

20.13. Spain Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Biofuels Market

21.1. Eastern Europe Biofuels Market Overview
21.2. Eastern Europe Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Biofuels Market

22.1. Russia Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Biofuels Market

23.1. North America Biofuels Market Overview
23.2. North America Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Biofuels Market

24.1. USA Biofuels Market Overview
24.2. USA Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Biofuels Market

25.1. Canada Biofuels Market Overview
25.2. Canada Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Biofuels Market

26.1. South America Biofuels Market Overview
26.2. South America Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Biofuels Market

27.1. Brazil Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Biofuels Market

28.1. Middle East Biofuels Market Overview
28.2. Middle East Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Biofuels Market

29.1. Africa Biofuels Market Overview
29.2. Africa Biofuels Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Biofuels Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Biofuels Market, Segmentation By Feedstock, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Biofuels Market Competitive Landscape And Company Profiles

30.1. Biofuels Market Competitive Landscape
30.2. Biofuels Market Company Profiles
- 30.2.1. The Archer-Daniels-Midland Company
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. Abengoa S. A.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Renewable Energy Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. Wilmar International Limited
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. Poet LLC
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Biofuels Market Competitive Benchmarking

32. Global Biofuels Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Biofuels Market

34. Biofuels Market Future Outlook and Potential Analysis

34.1 Biofuels Market In 2028 - Countries Offering Most New Opportunities
34.2 Biofuels Market In 2028 - Segments Offering Most New Opportunities
34. 3 Biofuels Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer