Biofuel Market Size Crossed $130 Billion in 2018
A newly compiled market research report from IndustryARC estimates the global biofuel market size to be around $130 billion in 2018. The environmental concerns associated with the use of fossil fuels, government support for eco-friendly alternatives, and higher biofuel bending mandates for transportation fuel are the factors driving the growth of the biofuel market. The demand in the global biofuel market will be growing at a CAGR of around 4% during the forecast period of 2019 to 2025. The report is titled “Biofuel Market: by product type, by blend, by feedstock, by production technology and by end use industry & by geography – forecast (2019 – 2025).”
Global Biofuel Market: Leading Segments
In December 2018, 168 million gallons of biodiesel were produced for various applications such as cleaning up oil spills, generating electricity, and removing paints and adhesives in the U.S. North America is anticipated to remain the key region in the biofuel marketplace, producing more than 30% of the global demand during the forecast period. The surge in this region is because of the production of biodiesel from grain stock and ethanol from corn. Advanced biofuels such as algae-based fuels are developed in this region.
Transportation application is dominating among other diverse application segments such as lubricants, energy generation, charging electronics, and removing paints and adhesives; it is estimated to grow with a notable CAGR around 7% during the forecast period 2019-2025. As biofuel is an alternative to diesel fuel, it is replacing many energy needs works such as home heating, and vehicle fuel. In the U.S., the consumption of soybean oil accounting to 768 million pounds remained the largest biodiesel feedstock during December 2018.
U.S. Energy Information Administration estimated around 110,000 billion per day ethanol that has been exported globally in 2018. Ethanol biofuel production is mainly dependent on domestic motor gasoline consumption, and the number of miles a vehicle has traveled. It is mostly used as the replacement for fossil fuels such as crude oil, coal, and natural gas in vehicles, which in turn is supplementing the growth of the biofuel market. Additionally, government regulations aiming the use of fuel blends containing higher biofuel percentage is boosting the global biofuels market. The demand for fuel blends with ethanol blend in addition to the existing E10 ethanol blend is expected to grow during the forecast period 2019-2025.
Global Biofuel Market: Trends
• Increasing deployment of higher ethanol blends like E15, and E85, and mid-level ethanol blends like E30 together with advanced, and cellulosic biofuels are being used in vehicles to reduce emissions such as greenhouse gases, carbon monoxide, and volatile organic compounds in the transportation sector.
• Introduction of second-generation biofuels is gaining popularity in the market. First generation biofuels are mined from vegetable oils, sugar, and starch using biomass technique. Whereas, second-generation biofuels are manufactured from agricultural by-products such as wheat straw, maize stalks, an array of waste biomass, and non-food crops which are largely used in the animal food and feed industry.
Global Biofuel Market: Competitive Landscape
Abengoa Bioenergy S.A., Cargill, Incorporated, BTG International Ltd, and DuPont are some of the major players operating in the global biofuel market. On September 08, 2018, DuPont has announced an agreement to sell its cellulosic ethanol plant located in Nevada, Iowa, to German bioenergy producer Verbio Vereinigte BioEnergie AG. The companies are planning to mount various facilities required to produce new cellulosic crop residues and natural renewable gas from corn stover in this site.
View Full Table of Contents of Biofuel Market :
https://industryarc.com/Report/18518/biofuel-market-research-report-analysis.html
Related Reports:
A. Biodiesel Market
https://industryarc.com/Report/11699/biodiesel-market-analysis.html
B. Biofuel Additives Market
https://industryarc.com/Report/11702/biofuel-additives-market.html
What can you expect from the report?
The Biofuel market is Prepared with the Main Agenda to Cover the following 20 points:
1. Biofuel Market Size by Product Categories & Application
2. Biofuel market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Biofuel market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Biofuel market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Biofuel market Strategic Analysis
18. Biofuel market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Biofuel market Revenue and Volume Analysis
Frequently Asked Questions:
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Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
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2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
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5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end-use segment.
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.
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