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 : August, 2020 | Energy & Mining | PPT format

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.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.