Biofuels Market With Current and Future Growth Analysis by Forecast From 2023 to 2030 | Green Plains Inc., Raízen, Cosan Limited

The Biofuels Market is estimated for $200 billion for 2023-2030 forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Biofuels such as biodiesel and ethanol are renewable sources of energy derived from biomass. They are increasingly being used as substitutes for gasoline and diesel in transportation. Advancements in biofuel production technologies are further enhancing their production efficacy.

Market Dynamics:

Stringent emission norms implemented by regulatory bodies across the globe to curb emissions from the transportation sector are compelling automakers to increase the blending ratio of biofuels in vehicular fuels. Moreover, the rising adoption of flex-fuel vehicles that can operate on multiple fuels including biofuels is also contributing to the growth of the biofuels market. Several countries in Europe and Latin America have mandated the usage of biodiesel blends like B10 and B20 which is encouraging the production of biofuels using feedstock. The focus on reducing dependence on fossil fuels and developing indigenous renewable sources of energy is further supporting the growth of the biofuels market during the forecast period.

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Top Key Players are Covered in this Report:

★ Green Plains Inc.
★ Raízen
★ Cosan Limited
★ Repsol S.A.
★ TotalEnergies SE
★ Chevron Corporation
★ Royal Dutch Shell plc
★ BP plc
★ Valero Energy Corporation
★ Poet LLC
★ Neste Corporation
★ Cargill Incorporated
★ Wilmar International Limited
★ Renewable Energy Group Inc.
★ Archer Daniels Midland Company

Detailed Segmentation

Segmentation by Type

★ Biodiesel
★ Ethanol
★ Wood Pellets
★ Others

Segmentation by Form:

★ Solid
★ Liquid
★ Gaseous

Segmentation by Application

★ Transportation
★ Aviation
★ Energy Generation
★ Heating
★ Others

Segmentation by Feedstock:

★ Corn
★ Sugarcane
★ Vegetable Oils
★ Others

Segmentation by Region

The global Biofuels market has five main regional segments, divided by geographic region. These regions are North America, Europe, Asia Pacific, Middle East-Africa, and Latin America.

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Growth of the Automotive Industry is Driving the Demand for Biofuels

The automotive industry has been growing steadily in recent years. As the number of vehicles on the road increases, so does the demand for fuel to power them. At the same time, concerns about climate change and energy security are pushing automakers and consumers towards more sustainable fuel options like biofuels. Many vehicle manufacturers have announced plans to expand their electric vehicle offerings in the coming decade. However, biofuels can play an important role as well by providing a low-carbon substitute for gasoline and diesel in conventional internal combustion engine vehicles. To meet corporate average fuel economy (CAFE) standards and reduce their carbon footprint, major automakers are actively pursuing the use of biofuel blends like E10 and E15 which contain up to 15% ethanol. As more car makers commit to the use of higher ethanol blends, it will drive higher demand for bioethanol production.

Stringent Government Regulations to Reduce Greenhouse Gas Emissions from the Transportation Sector Pose a Challenge for Biofuels

Many governments around the world have implemented or plan to implement ambitious GHG reduction targets to comply with the Paris Agreement and mitigate the effects of climate change. In particular, regulations targeting the transportation sector aim to cut emissions from gasoline and diesel use in vehicles. While biofuels can help reduce the carbon intensity of transport fuels compared to fossil fuels, there are concerns about their overall lifecycle greenhouse gas emissions and impacts on air quality. Some studies have questioned whether certain biofuel feedstocks such as corn actually achieve the required emission reduction thresholds stipulated in policies such as the Renewable Fuel Standard in the USA. Complying with evolving emissions regulations presents a challenge for the biofuels industry and may restrict the types of biofuel eligible under support schemes if their environmental benefits are not conclusively proven. Tighter rules could dampen demand growth and investment in biofuel production capacity expansion.

Developing Advanced Biofuels Offer Huge Potential to Expand the Industry

While conventional biofuels like corn ethanol and biodiesel have kicked off the growth of the bioeconomy, advanced biofuels made from non-food feedstocks hold immense potential to scale up the sector. Development of technologies to produce cellulosic ethanol, biodiesel from algal oils, renewable jet and diesel fuels using biomass and waste feedstocks offer an opportunity to access new markets. The military and aviation sectors are keen to diversify jet fuel sources and reduce their dependence on petroleum. With supportive policies and funding for research, advanced biofuels could displace a significant share of petroleum use in these segments. Their lower carbon footprint also makes them a more sustainable alternative compared to corn ethanol. As technology risks reduce with further progress, advanced biofuels are expected to drive the next phase of growth for the biofuels industry globally.

The Rising Trend of Regulations to Promote Decarbonisation Favors the Biofuel Industry

Regulations to tackle climate change and curb greenhouse emissions are becoming increasingly stringent around the world. Countries are formulating low carbon fuel standards, carbon taxes as well as mandates for blending renewable fuels with gasoline and diesel. The European Union implemented its revised Renewable Energy Directive in 2018 which raised the contribution of renewable energy in transport to 14% by 2030. California's Low Carbon Fuel Standard has spurred investment in low carbon fuels including cellulosic ethanol and renewable diesel. Even nations like India and Brazil have announced strengthened policy targets for biofuel blending. As governments step up efforts to decarbonise their transport systems in line with their Paris pledges, the trend clearly favours greater use of lower carbon alternatives like biofuels. This supportive regulatory environment will drive sustained demand growth for established as well as advanced biofuels in the long run.

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The report answers a number of crucial questions, including:

✦ Which companies dominate the global Biofuels market?
✦ What current trends will influence the market over the next few years?
✦ What are the market's opportunities, obstacles, and driving forces?
✦ What predictions for the future can help with strategic decision-making?
✦ What advantages does market research offer businesses?
✦ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
✦ What is the anticipated growth rate for the Biofuels market economy globally?

Table of Contents with Major Points:

1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2023-2030 (USD Billion)
1.2.1. By Region, 2023-2030 (USD Billion)
1.2.2. By Type, 2023-2030 (USD Billion)
1.2.3. By Application, 2023-2030 (USD Billion)
1.2.4. By Verticles, 2023-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

2. Global Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

3. Global Market Dynamics
3.1. Market Impact Analysis (2023-2030)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities

4. Global Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2023-2030)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

5. Global Market, by Type
5.1. Market Snapshot
5.2. By Type, Performance - Potential Analysis
5.3. Global Biofuels Market Estimates & Forecasts by Type 2023-2030 (USD Billion)
5.4. Sub-Segment Analysis

6. Global Market, by Application
6.1. Market Snapshot
6.2. By Application, Performance - Potential Analysis
6.3. Global Biofuels Market Estimates & Forecasts by Application 2023-2030 (USD Billion)
6.4. Sub-Segment Analysis
6.4.1. Others

7. Global Market, by Verticles
7.1. Market Snapshot
7.2. By Verticles, Performance - Potential Analysis
7.3. Global Biofuels Market Estimates & Forecasts by Verticles 2023-2030 (USD Billion)
7.4. Sub-Segment Analysis

8. Global Biofuels Market, Regional Analysis
8.1. Regional Market Snapshot
8.2. North America Biofuels Market
8.3. Europe Biofuels Market Snapshot
8.4. Asia-Pacific Biofuels Market Snapshot
8.5. Latin America Biofuels Market Snapshot
8.6. Rest of The World Biofuels Market

9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Keyplayer1
9.2.1.1. Key In Duration
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments

10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes

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This release was published on openPR.