Biofuels Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Biofuels Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : May, 2021 | Energy & Mining

Report Digest

Global Biofuels Market: Overview

Biofuels have gathered groundswell of interest by industry players and governments alike to act as alternatives to fossil-fuels. Stridently, profuse demands in the biofuels market have come from the transportation industry, where these - notably ethanol and biodiesel--are blended with petroleum diesel or gasoline. Biodegradability, non-toxicity, and renewable nature of biofuels are compelling propositions attracting investments in transport biofuel production in various parts of the world.

Continuing interest in finding new biological and thermochemical ways of biofuel production, including seeking sustainable array of biomasses, has helped scale up the production, contributing to the evolution of the biofuels market. Ethanol biorefineries have increasingly benefitted from these developments. The feedstock primarily comprise range of plant-based waste. Next-generation products in the biofuels market have come increasingly from non-plant sources such as cellulose and algae. In recent years, the commercialization of drop-in biofuels has gained momentum, especially in developed nations of the U.S., thus propelling the evolution of the biofuels market.

Global Biofuels Market: Growth Dynamics

Growing demand for plant-based fuel in the aviation, shipping, and transportation industry is a key factor propelling interest of industry players. Numerous countries have been actively blending ethanol with gasoline to reduce air pollution levels due to the transportation industry. A case in point is the U.S. Growing adoption of biofuels for commercial aviation in numerous countries—at least 150,000 flights have adopted biofuels in some form--has augmented the prospects in the biofuels market.

The Sustainable Development Goals by the UN have envisaged new technologies and products in the biofuels market to occupy more significant role in economies the coming years. Another impetus to the market has come from the adoption of biofuels to International Energy Agency's targets of sustainable growth by 2030.

Developing economies are coming forward to strengthen their regulations and policies to reinforce the demand in the marine industry. Numerous governments, for instance, are trying to assess the risk that biofuels will bring to food production, since large swathes of farmlands are being utilized for the feedstock.

Global Biofuels Market: Notable Development

The transportation sector around the world sees a vast revenue stream in the commercialization of biofuels. The marine industry is no stranger to the huge benefits that biofuels adoption bring toward decarbonizing emissions. More importantly, it serves the industry to comply with new regulations on reducing the sulfur content from its fuels. The business proposition paves way to global players in the biofuels market to ink partnership deals and enter collaborations. CMA CGM Group, a France-based container transportation and shipping company, has recently in 2019 announced that it has entered into partnership with Shell to allow it to use the latter’s biofuels in several of its fleets. The biofuel made from cooking oil is expected to cut down on greenhouse gas emissions by as much as 80%, a compelling proposition fueling their interest in products in biofuels market.

The Sustainable Shipping Initiative (SSI) in its recent initiatives has already attracting interest of investors in the biofuels market. In one of its recent reports, the SSI has projected a promising potential of biofuels in attaining the greenhouse gas reduction targets for the marine industry. Another area that will help producers realize more revenues is increasing the blend percentage of biofuels.

Meanwhile, the biofuels market is moving ahead in the path to commercialization of next-generation fuels on the back of a consistent policy thrust. The governments in developing economies have included biofuels in their regulatory framework. The Cabinet in the Africa has among other things come out with a feedstock protocol in consolidating efforts to integrate biofuels in their energy framework. Further, it is finalizing on biofuels subsidy mechanism to support farmers and manufacturers.

Global Biofuels Market: Regional Assessment

On the regional front, North America and Europe have proved to increasingly lucrative for biofuel commercialization. Favorable government mandates and advances in biofuel conversion process in countries such as the U.S., China, and in numerous economies in Europe have imparted a large momentum to pace of adoption. Further, North America and Asia Pacific have recently been witnessing slew of research initiatives in finding novel processes and ingredients for second-generation biofuels, notably producing drop-in fuels from organic waste.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?