Biofuel Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Form (Solid Biofuel, Liquid Biofuel and Gaseous Biofuel), By Application (Transportation, Aviation, Energy Generation, Heating and Others), By Feedstock (Corn, Sugarcane, Vegetables Oils and Others), By Region, and By Competition 2018-2028

  • Industry : Power
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 95.17 billion

CAGR (2023-2028)

9.51%

Fastest Growing Segment

Vegetables Oils

Largest Market

North America

Market Overview

Global Biofuel Market has valued at USD 95.17 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 9.51% through 2028. Governments worldwide are implementing policies, regulations, and incentives to promote the production and use of biofuels. Renewable fuel standards, blending mandates, tax credits, and subsidies create a supportive regulatory environment that stimulates investment in biofuel production and adoption.

Key Market Drivers

Increasing Global Focus on Sustainable Energy

One of the primary drivers propelling the growth of the global biofuel market is the increasing global focus on sustainable energy sources. As concerns about climate change and environmental degradation intensify, governments, businesses, and consumers are seeking alternatives to traditional fossil fuels to reduce carbon emissions. Biofuels, derived from renewable resources such as plant biomass, offer a promising solution to address these environmental challenges.

Governments around the world are implementing policies and regulations to promote the use of biofuels and reduce dependency on conventional fossil fuels. These policies often include incentives, subsidies, and mandates to encourage the production and consumption of biofuels. Additionally, international agreements and commitments to reduce greenhouse gas emissions further drive the adoption of biofuels as a cleaner and more sustainable energy option.

Moreover, consumers are becoming more environmentally conscious and are increasingly choosing products and services that align with their values. This shift in consumer behavior has led to a growing demand for biofuels, especially in the transportation sector. As the global population continues to grow, and urbanization increases, the need for sustainable and low-carbon energy solutions becomes even more critical, positioning biofuels as a key driver in the transition to a more sustainable energy future.

Technological Advancements and Innovation in Biofuel Production

Technological advancements and ongoing innovation in biofuel production processes are significant drivers shaping the global biofuel market. Over the years, researchers and industry experts have made substantial progress in developing more efficient and cost-effective methods for producing biofuels. These advancements include improvements in feedstock selection, conversion technologies, and overall production efficiency.

One notable area of innovation is the development of advanced biofuels, which are produced from non-food feedstocks and often exhibit superior environmental performance compared to first-generation biofuels. Advanced biofuels can be derived from sources such as algae, waste biomass, and certain crops specifically grown for biofuel production. These innovations contribute to expanding the range of feedstocks available for biofuel production, mitigating concerns related to food-versus-fuel competition.

Furthermore, research efforts focus on enhancing the conversion processes, such as improving enzymatic and microbial biofuel production pathways. This ongoing innovation not only increases the overall yield of biofuels but also helps address challenges related to cost competitiveness and scalability. As technology continues to evolve, the biofuel industry is better positioned to overcome existing limitations and emerge as a more viable and widespread alternative to conventional fuels.

Energy Security and Diversification of Energy Sources

Global concerns about energy security and the need for diversification of energy sources are driving the growth of the biofuel market. The geopolitical instability associated with traditional fossil fuel supply chains, combined with finite fossil fuel resources, has prompted governments and industries to explore alternative energy options to enhance energy security.

Biofuels play a crucial role in diversifying the energy mix, providing a renewable and domestically sourced alternative to imported fossil fuels. By reducing dependence on foreign oil and gas, countries can enhance their energy security and reduce vulnerability to supply disruptions. This strategic imperative has led many nations to invest in the development of domestic biofuel industries, promoting economic growth and job creation within their borders.

Additionally, the cultivation of biofuel feedstocks often involves a diverse range of crops and resources, contributing to agricultural diversification. This not only mitigates risks associated with monoculture but also provides farmers with new revenue streams, supporting rural economies. As the global community continues to prioritize energy security and seeks ways to reduce reliance on fossil fuels, the biofuel market is poised to play a pivotal role in achieving these strategic objectives.


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Key Market Challenges

Feedstock Availability and Competition with Food Production

One of the foremost challenges facing the global biofuel market is the competition for feedstock resources, particularly when biofuels are derived from crops that could also be used for food production. The most common biofuel feedstocks include crops like corn, soybeans, sugarcane, and palm oil. As the demand for biofuels rises, concerns about potential conflicts between food and fuel production have become more pronounced.

The cultivation of biofuel feedstocks on arable land raises questions about land-use efficiency and its impact on food security. Critics argue that diverting land and crops from food production to biofuel cultivation could contribute to higher food prices and exacerbate global hunger issues, especially in regions already grappling with food shortages. Striking a balance between biofuel production and food security remains a complex challenge that requires careful consideration of land-use policies, sustainable farming practices, and the development of non-food-based feedstocks.

To address this challenge, ongoing research focuses on the development of advanced biofuels derived from non-food feedstocks, such as algae, waste biomass, and non-edible plant materials. By reducing reliance on food-based feedstocks, the biofuel industry aims to alleviate concerns related to competition with food production while maintaining its commitment to sustainability.

Cost Competitiveness and Technological Maturity

Another significant challenge facing the global biofuel market is the cost competitiveness of biofuels compared to traditional fossil fuels. While advancements in technology have improved the efficiency of biofuel production processes, biofuels often struggle to match the cost-effectiveness of conventional fossil fuels. The high upfront costs associated with establishing biofuel production facilities, coupled with ongoing expenses related to feedstock acquisition and processing, contribute to the economic challenges facing the industry.

Furthermore, the relatively low energy density of some biofuels, especially compared to conventional fuels like gasoline and diesel, poses a challenge for widespread adoption. This can result in reduced fuel efficiency and increased costs for consumers, limiting the attractiveness of biofuels in the transportation sector.

To address these challenges, ongoing research and development efforts are focused on improving the overall technological maturity of biofuel production. Innovations in feedstock optimization, conversion processes, and the development of advanced biofuels aim to enhance both the efficiency and cost-effectiveness of biofuel production. Additionally, continued government support through incentives and subsidies can help bridge the economic gap between biofuels and traditional fuels, facilitating a more competitive market.

Infrastructure and Distribution Hurdles

The third major challenge confronting the global biofuel market relates to infrastructure and distribution hurdles. The existing infrastructure for transporting, storing, and dispensing traditional fossil fuels is well-established and optimized for the characteristics of these fuels. In contrast, biofuels, especially advanced biofuels, may have different properties that require modifications to existing infrastructure or the development of entirely new distribution systems.

For instance, ethanol, a widely used biofuel, is hygroscopic, meaning it can absorb water from the atmosphere. This property can lead to challenges related to transportation, storage, and corrosion in existing fuel distribution systems not designed to handle ethanol blends. Adapting infrastructure to accommodate biofuels often involves significant investment and coordination among various stakeholders in the energy supply chain.

Moreover, the availability of biofuel refueling stations is limited compared to traditional gas stations, hindering widespread consumer adoption. The lack of a comprehensive and accessible biofuel infrastructure can act as a barrier to market growth.

Addressing infrastructure and distribution challenges requires collaboration between governments, industry players, and technology developers. Investments in research and the development of compatible infrastructure, along with policies that encourage the expansion of biofuel distribution networks, are crucial to overcoming these hurdles and facilitating the integration of biofuels into the broader energy landscape.

Key Market Trends

Emergence of Advanced Biofuels and Next-Generation Feedstocks

A significant trend shaping the global biofuel market is the emergence of advanced biofuels and the exploration of next-generation feedstocks. Traditional biofuels, often referred to as first-generation biofuels, are primarily derived from food crops like corn, sugarcane, and soybeans. However, concerns related to food-versus-fuel competition, land-use changes, and sustainability have spurred research and development efforts to identify alternative feedstocks for biofuel production.

Advanced biofuels represent the next phase in bioenergy evolution, offering the potential for improved environmental performance and reduced reliance on food crops. These biofuels can be produced from a variety of non-food feedstocks, including algae, cellulosic biomass, waste materials, and certain cover crops. Algae, for example, can be cultivated in diverse environments and have high oil content, making them a promising source for biofuel production.

Additionally, cellulosic biomass, such as agricultural residues, wood waste, and dedicated energy crops, provides a sustainable alternative. The use of these next-generation feedstocks addresses concerns associated with land-use changes, as they often do not compete with food production and can be grown on marginal lands. The trend towards advanced biofuels reflects a commitment to developing more sustainable and environmentally friendly alternatives, positioning the biofuel market as a dynamic and evolving sector within the broader renewable energy landscape.

Governments, industries, and research institutions worldwide are investing in the development of technologies and processes that unlock the potential of advanced biofuels. Policy support, including incentives and mandates, encourages the commercialization of these emerging technologies, fostering a transition towards a more diverse and sustainable biofuel market.

Integration of Biofuels into Circular Economy Strategies

An increasingly prominent trend in the global biofuel market is the integration of biofuels into circular economy strategies. The concept of a circular economy emphasizes the minimization of waste, the reuse of resources, and the promotion of sustainable practices. In the context of biofuels, this trend involves leveraging the entire biofuel production process to maximize efficiency, minimize waste, and create a closed-loop system.

One key aspect of this trend is the utilization of waste and by-products from biofuel production for additional economic and environmental benefits. For example, residues from biofuel feedstocks, such as crop residues and forestry waste, can be utilized for the production of bioenergy or as inputs for other industrial processes. By converting these residues into valuable products, the biofuel industry contributes to reducing overall waste and maximizing the economic output of biofuel production systems.

Moreover, the integration of biofuels into a circular economy involves considering the entire life cycle of biofuel production, from feedstock cultivation to end-use. This life cycle thinking helps identify opportunities for further optimization, energy efficiency improvements, and emissions reduction throughout the entire value chain.

Policies and initiatives that promote circular economy principles, such as waste valorization and resource efficiency, play a crucial role in driving this trend. As sustainability becomes a central focus for businesses and governments globally, the biofuel market is adapting to align with circular economy principles, creating a more holistic and environmentally friendly approach to bioenergy production. This trend not only enhances the overall sustainability of biofuels but also positions them as integral components of broader efforts to build a more circular and resource-efficient global economy.

Segmental Insights

Form Insights

The Liquid Biofuel segment emerged as the dominating segment in 2022. The liquid biofuel segment is a crucial component of the global biofuel market, encompassing a variety of fuels that are in liquid form and derived from biomass resources. Liquid biofuels are used primarily in the transportation sector as a cleaner and more sustainable alternative to conventional fossil fuels.

Bioethanol, a type of alcohol produced from the fermentation of sugars found in crops like corn, sugarcane, and wheat, is a prominent liquid biofuel. It is commonly blended with gasoline to create ethanol blends such as E10 (10% ethanol) or E85 (85% ethanol). The bioethanol market has witnessed significant growth due to government mandates, environmental concerns, and the desire to reduce dependence on fossil fuels. Brazil and the United States are among the leading producers and consumers of bioethanol.

Biodiesel, produced through the transesterification of vegetable oils, animal fats, or used cooking oils, is another key liquid biofuel. It can be blended with traditional diesel in varying proportions (e.g., B5, B20) and used in diesel engines without significant modifications. Biodiesel contributes to reducing greenhouse gas emissions and enhancing energy security. The European Union, the United States, and Indonesia are major players in the global biodiesel market.

Produced from non-food feedstocks like agricultural residues, wood, and dedicated energy crops, cellulosic ethanol offers a more sustainable alternative to traditional bioethanol. Derived from feedstocks such as algae and waste oils, HEFA is a type of advanced biodiesel. It has gained attention for its potential to reduce carbon emissions significantly. Considered an advanced biofuel, biobutanol is produced through the fermentation of sugars and offers certain advantages over ethanol, such as higher energy density and compatibility with existing infrastructure.

Application Insights

The Transportation segment is projected to experience rapid growth during the forecast period. The transportation segment is a pivotal sector within the global biofuel market, accounting for a significant share of biofuel consumption. Biofuels play a crucial role in addressing environmental concerns related to conventional fossil fuels, particularly in the transportation industry.

The use of biofuels in road transportation is prevalent, with bioethanol and biodiesel being the primary substitutes for gasoline and diesel, respectively. Blending biofuels with conventional fuels is a common practice to reduce greenhouse gas emissions and enhance fuel sustainability. The aviation sector is exploring the use of biojet fuels, derived from feedstocks like algae, plant oils, and waste materials. Biojet fuels have the potential to significantly reduce the carbon footprint of air travel. Biofuels are also being considered for marine transportation, with biodiesel and bio-based alternatives being explored to replace traditional marine fuels. The maritime industry is under pressure to reduce emissions, and biofuels offer a promising solution.

Stringent environmental regulations and government mandates requiring a certain percentage of biofuels in transportation fuels drive the adoption of biofuels. These mandates encourage the blending of bioethanol and biodiesel to meet renewable fuel standards. As countries strive to meet carbon emission reduction targets, biofuels offer a viable solution in the transportation sector. Biofuels are considered a low-carbon alternative to conventional fuels, contributing to efforts to combat climate change. The desire to reduce dependency on imported fossil fuels enhances the appeal of domestically produced biofuels, contributing to energy security. This is particularly relevant for countries seeking to diversify their energy sources and reduce geopolitical risks.


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Regional Insights

North America emerged as the dominating region in 2022, holding the largest market share. North America plays a significant role in the global biofuel market, driven by a combination of regulatory initiatives, environmental concerns, and the pursuit of energy security. The region has been a leader in adopting biofuels, with a focus on both ethanol and biodiesel. The United States, in particular, is a major player in the biofuel market, contributing significantly to production and consumption.

The United States is a major producer of ethanol, primarily derived from corn. Corn-based ethanol, blended with gasoline in various proportions (E10, E15, and E85), dominates the biofuel landscape in North America. The market also sees advancements in cellulosic ethanol production. Biodiesel production in North America, especially in the United States, is notable. Feedstocks for biodiesel include soybean oil and recycled cooking oil. Biodiesel blends, such as B5 and B20, are widely used in the transportation sector. The region is witnessing increased interest in advanced biofuels, including cellulosic ethanol and renewable diesel. Investments in research and development aim to diversify feedstocks and improve the overall sustainability of biofuel production.

Efforts are underway to diversify biofuel feedstocks beyond traditional sources like corn and soybeans. Research and development focus on non-food feedstocks and advanced conversion technologies. The biofuel industry in North America is witnessing increased attention to sustainability. Investments in sustainable farming practices, feedstock sourcing, and lifecycle assessments contribute to the industry's environmental credentials. The integration of biofuels into circular economy strategies, where waste and by-products are utilized for additional economic benefits, is an emerging trend. This aligns with broader sustainability goals.

Collaboration between government agencies and biofuel industry stakeholders is essential for the growth of the market. Public-private partnerships support research, development, and the implementation of biofuel initiatives. North America participates in international biofuel trade, with the United States being a significant exporter of ethanol and biodiesel. Trade relationships and agreements influence the dynamics of the regional biofuel market.

The future of the North American biofuel market is likely to see increased emphasis on advanced biofuels. Continued research and development, supported by policy frameworks, will drive the commercialization of next-generation biofuels. Biofuels are expected to play a role in the broader transition to renewable energy. Integration with other renewable energy sources and technologies, such as electric vehicles and hydrogen, will shape the future energy landscape.

In conclusion, North America is a key player in the global biofuel market, driven by a combination of regulatory support, technological advancements, and a commitment to environmental sustainability. The region's biofuel industry is evolving to address challenges and capitalize on emerging trends, contributing to the broader transition to a more sustainable and diversified energy portfolio.

Recent Developments

  • In May 2023, Neste and ITOCHU entered into a licencing agreement that will allow ITOCHU to become the official distributor of Neste MY Renewable Diesel in Japan.
  • In February 2023, Neste opened an Innovation Centre in Singapore to improve its worldwide innovation and R&D capabilities. Asia has been an important market for Neste, and the new center will help the company's growth in the Asia-Pacific region.
  • In June 2022, Cargill established its first state-of-the-art advanced biodiesel plant in Ghent, Belgium. This facility turns waste oils and residues into renewable fuel. The advanced biodiesel generated at the facility will be used in the maritime and trucking industries, allowing clients to reduce their carbon footprint connected with maritime and road transport activities.

Key Market Players

  • Archer Daniels Midland Company
  • Green Plains Inc.
  • Petrobras
  • Valero Energy Corp.
  • Alto Ingredients Inc.
  • Butamax Advanced Biofuels LLC
  • Wilmar International Ltd.
  • Renewable Energy Group, Inc.
  • Bunge North America, Inc.
  • Royal Dutch Shell Plc  

 

By Form

By Application

By Feedstock

By Region
  • Solid Biofuel
  • Liquid Biofuel
  • Gaseous Biofuel
  • Transportation
  • Aviation
  • Energy Generation
  • Heating
  • Others
  • Corn
  • Sugarcane
  • Vegetables Oils
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Biofuel Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Biofuel Market, By Form:

o   Solid Biofuel

o   Liquid Biofuel

o   Gaseous Biofuel              

  • Biofuel Market, By Application:

o   Transportation

o   Aviation

o   Energy Generation

o   Heating

o   Others          

  • Biofuel Market, By Feedstock:

o   Corn

o   Sugarcane

o   Vegetables Oils

o   Others          

  • Biofuel Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

§  Netherlands

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

§  Thailand

§  Malaysia

o   South America

§  Brazil

§  Argentina

§  Colombia

§  Chile

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Biofuel Market.

Available Customizations:

Global Biofuel Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Biofuel Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.         Product Overview

1.1.    Market Definition

1.2.    Scope of the Market

1.2.1.Markets Covered

1.2.2.Years Considered for Study

1.2.3.Key Market Segmentations

2.         Research Methodology

2.1.    Objective of the Study

2.2.    Baseline Methodology

2.3.    Formulation of the Scope

2.4.    Assumptions and Limitations

2.5.    Sources of Research

2.5.1.Secondary Research

2.5.2.Primary Research

2.6.    Approach for the Market Study

2.6.1.The Bottom-Up Approach

2.6.2.The Top-Down Approach

2.7.    Methodology Followed for Calculation of Market Size & Market Shares

2.8.    Forecasting Methodology

2.8.1.Data Triangulation & Validation

3.         Executive Summary

4.         Impact of COVID-19 on Global Biofuel Market

5.         Voice of Customer

6.         Global Biofuel Market Overview

7.         Global Biofuel Market Outlook

7.1.    Market Size & Forecast

7.1.1.By Value

7.2.    Market Share & Forecast

7.2.1.By Form (Solid Biofuel, Liquid Biofuel and Gaseous Biofuel)

7.2.2.By Application (Transportation, Aviation, Energy Generation, Heating and Others)

7.2.3.By Feedstock (Corn, Sugarcane, Vegetables Oils and Others)

7.2.4.By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3.    By Company (2022)

7.4.    Market Map

8.         North America Biofuel Market Outlook

8.1.    Market Size & Forecast

8.1.1.By Value

8.2.    Market Share & Forecast

8.2.1.By Form

8.2.2.By Application

8.2.3.By Feedstock

8.2.4.By Country

8.3.    North America: Country Analysis

8.3.1.United States Biofuel Market Outlook

8.3.1.1.      Market Size & Forecast

8.3.1.1.1.    By Value

8.3.1.2.      Market Share & Forecast

8.3.1.2.1.    By Form

8.3.1.2.2.    By Application

8.3.1.2.3.    By Feedstock

8.3.2.Canada Biofuel Market Outlook

8.3.2.1.      Market Size & Forecast

8.3.2.1.1.    By Value

8.3.2.2.      Market Share & Forecast

8.3.2.2.1.    By Form

8.3.2.2.2.    By Application

8.3.2.2.3.    By Feedstock

8.3.3.Mexico Biofuel Market Outlook

8.3.3.1.      Market Size & Forecast

8.3.3.1.1.    By Value

8.3.3.2.      Market Share & Forecast

8.3.3.2.1.    By Form

8.3.3.2.2.    By Application

8.3.3.2.3.    By Feedstock

9.         Europe Biofuel Market Outlook

9.1.    Market Size & Forecast

9.1.1.By Value

9.2.    Market Share & Forecast

9.2.1.By Form

9.2.2.By Application

9.2.3.By Feedstock

9.2.4.By Country

9.3.    Europe: Country Analysis

9.3.1.Germany Biofuel Market Outlook

9.3.1.1.      Market Size & Forecast

9.3.1.1.1.    By Value

9.3.1.2.      Market Share & Forecast

9.3.1.2.1.    By Form

9.3.1.2.2.    By Application

9.3.1.2.3.    By Feedstock

9.3.2.France Biofuel Market Outlook

9.3.2.1.      Market Size & Forecast

9.3.2.1.1.    By Value

9.3.2.2.      Market Share & Forecast

9.3.2.2.1.    By Form

9.3.2.2.2.    By Application

9.3.2.2.3.    By Feedstock

9.3.3.United Kingdom Biofuel Market Outlook

9.3.3.1.      Market Size & Forecast

9.3.3.1.1.    By Value

9.3.3.2.      Market Share & Forecast

9.3.3.2.1.    By Form

9.3.3.2.2.    By Application

9.3.3.2.3.    By Feedstock

9.3.4.Italy Biofuel Market Outlook

9.3.4.1.      Market Size & Forecast

9.3.4.1.1.    By Value

9.3.4.2.      Market Share & Forecast

9.3.4.2.1.    By Form

9.3.4.2.2.    By Application

9.3.4.2.3.    By Feedstock

9.3.5.Spain Biofuel Market Outlook

9.3.5.1.      Market Size & Forecast

9.3.5.1.1.    By Value

9.3.5.2.      Market Share & Forecast

9.3.5.2.1.    By Form

9.3.5.2.2.    By Application

9.3.5.2.3.    By Feedstock

9.3.6.Netherlands Biofuel Market Outlook

9.3.6.1.      Market Size & Forecast

9.3.6.1.1.    By Value

9.3.6.2.      Market Share & Forecast

9.3.6.2.1.    By Form

9.3.6.2.2.    By Application

9.3.6.2.3.    By Feedstock

9.3.7.Belgium Biofuel Market Outlook

9.3.7.1.      Market Size & Forecast

9.3.7.1.1.    By Value

9.3.7.2.      Market Share & Forecast

9.3.7.2.1.    By Form

9.3.7.2.2.    By Application

9.3.7.2.3.    By Feedstock

10.      South America Biofuel Market Outlook

10.1. Market Size & Forecast

10.1.1.     By Value

10.2. Market Share & Forecast

10.2.1.     By Form

10.2.2.     By Application

10.2.3.     By Feedstock

10.2.4.     By Country

10.3. South America: Country Analysis

10.3.1.     Brazil Biofuel Market Outlook

10.3.1.1.   Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2.   Market Share & Forecast

10.3.1.2.1. By Form

10.3.1.2.2. By Application

10.3.1.2.3. By Feedstock

10.3.2.     Colombia Biofuel Market Outlook

10.3.2.1.   Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2.   Market Share & Forecast

10.3.2.2.1. By Form

10.3.2.2.2. By Application

10.3.2.2.3. By Feedstock

10.3.3.     Argentina Biofuel Market Outlook

10.3.3.1.   Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2.   Market Share & Forecast

10.3.3.2.1. By Form

10.3.3.2.2. By Application

10.3.3.2.3. By Feedstock

10.3.4.     Chile Biofuel Market Outlook

10.3.4.1.   Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2.   Market Share & Forecast

10.3.4.2.1. By Form

10.3.4.2.2. By Application

10.3.4.2.3. By Feedstock

11.      Middle East & Africa Biofuel Market Outlook

11.1. Market Size & Forecast

11.1.1.     By Value

11.2. Market Share & Forecast

11.2.1.     By Form

11.2.2.     By Application

11.2.3.     By Feedstock

11.2.4.     By Country

11.3. Middle East & Africa: Country Analysis

11.3.1.     Saudi Arabia Biofuel Market Outlook

11.3.1.1.   Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2.   Market Share & Forecast

11.3.1.2.1. By Form

11.3.1.2.2. By Application

11.3.1.2.3. By Feedstock

11.3.2.     UAE Biofuel Market Outlook

11.3.2.1.   Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2.   Market Share & Forecast

11.3.2.2.1. By Form

11.3.2.2.2. By Application

11.3.2.2.3. By Feedstock

11.3.3.     South Africa Biofuel Market Outlook

11.3.3.1.   Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2.   Market Share & Forecast

11.3.3.2.1. By Form

11.3.3.2.2. By Application

11.3.3.2.3. By Feedstock

11.3.4.     Turkey Biofuel Market Outlook

11.3.4.1.   Market Size & Forecast

11.3.4.1.1. By Value

11.3.4.2.   Market Share & Forecast

11.3.4.2.1. By Form

11.3.4.2.2. By Application

11.3.4.2.3. By Feedstock

12.      Asia Pacific Biofuel Market Outlook

12.1. Market Size & Forecast

12.1.1.     By Form

12.1.2.     By Application

12.1.3.     By Feedstock

12.1.4.     By Country

12.2. Asia-Pacific: Country Analysis

12.2.1.     China Biofuel Market Outlook

12.2.1.1.   Market Size & Forecast

12.2.1.1.1. By Value

12.2.1.2.   Market Share & Forecast

12.2.1.2.1. By Form

12.2.1.2.2. By Application

12.2.1.2.3. By Feedstock

12.2.2.     India Biofuel Market Outlook

12.2.2.1.   Market Size & Forecast

12.2.2.1.1. By Value

12.2.2.2.   Market Share & Forecast

12.2.2.2.1. By Form

12.2.2.2.2. By Application

12.2.2.2.3. By Feedstock

12.2.3.     Japan Biofuel Market Outlook

12.2.3.1.   Market Size & Forecast

12.2.3.1.1. By Value

12.2.3.2.   Market Share & Forecast

12.2.3.2.1. By Form

12.2.3.2.2. By Application

12.2.3.2.3. By Feedstock

12.2.4.     South Korea Biofuel Market Outlook

12.2.4.1.   Market Size & Forecast

12.2.4.1.1. By Value

12.2.4.2.   Market Share & Forecast

12.2.4.2.1. By Form

12.2.4.2.2. By Application

12.2.4.2.3. By Feedstock

12.2.5.     Australia Biofuel Market Outlook

12.2.5.1.   Market Size & Forecast

12.2.5.1.1. By Value

12.2.5.2.   Market Share & Forecast

12.2.5.2.1. By Form

12.2.5.2.2. By Application

12.2.5.2.3. By Feedstock

12.2.6.     Thailand Biofuel Market Outlook

12.2.6.1.   Market Size & Forecast

12.2.6.1.1. By Value

12.2.6.2.   Market Share & Forecast

12.2.6.2.1. By Form

12.2.6.2.2. By Application

12.2.6.2.3. By Feedstock

12.2.7.     Malaysia Biofuel Market Outlook

12.2.7.1.   Market Size & Forecast

12.2.7.1.1. By Value

12.2.7.2.   Market Share & Forecast

12.2.7.2.1. By Form

12.2.7.2.2. By Application

12.2.7.2.3. By Feedstock

13.      Market Dynamics

13.1. Drivers

13.2. Challenges

14.      Market Trends and Developments

15.      Company Profiles

15.1.  Archer Daniels Midland Company

15.1.1.     Business Overview

15.1.2.     Key Revenue and Financials  

15.1.3.     Recent Developments

15.1.4.     Key Personnel/Key Contact Person

15.1.5.     Key Product/Services Offered

15.2.  Green Plains Inc.

15.2.1.     Business Overview

15.2.2.     Key Revenue and Financials  

15.2.3.     Recent Developments

15.2.4.     Key Personnel/Key Contact Person

15.2.5.     Key Product/Services Offered

15.3.  Petrobras

15.3.1.     Business Overview

15.3.2.     Key Revenue and Financials  

15.3.3.     Recent Developments

15.3.4.     Key Personnel/Key Contact Person

15.3.5.     Key Product/Services Offered

15.4.  Valero Energy Corp.

15.4.1.     Business Overview

15.4.2.     Key Revenue and Financials  

15.4.3.     Recent Developments

15.4.4.     Key Personnel/Key Contact Person

15.4.5.     Key Product/Services Offered

15.5.  Alto Ingredients Inc.

15.5.1.     Business Overview

15.5.2.     Key Revenue and Financials  

15.5.3.     Recent Developments

15.5.4.     Key Personnel/Key Contact Person

15.5.5.     Key Product/Services Offered

15.6.  Butamax Advanced Biofuels LLC

15.6.1.     Business Overview

15.6.2.     Key Revenue and Financials  

15.6.3.     Recent Developments

15.6.4.     Key Personnel/Key Contact Person

15.6.5.     Key Product/Services Offered

15.7.  Wilmar International Ltd.

15.7.1.     Business Overview

15.7.2.     Key Revenue and Financials  

15.7.3.     Recent Developments

15.7.4.     Key Personnel/Key Contact Person

15.7.5.     Key Product/Services Offered

15.8.  Renewable Energy Group, Inc.

15.8.1.     Business Overview

15.8.2.     Key Revenue and Financials  

15.8.3.     Recent Developments

15.8.4.     Key Personnel/Key Contact Person

15.8.5.     Key Product/Services Offered

15.9.  Bunge North America, Inc.

15.9.1.     Business Overview

15.9.2.     Key Revenue and Financials  

15.9.3.     Recent Developments

15.9.4.     Key Personnel/Key Contact Person

15.9.5.     Key Product/Services Offered

15.10.   Royal Dutch Shell Plc  

15.10.1.   Business Overview

15.10.2.   Key Revenue and Financials  

15.10.3.   Recent Developments

15.10.4.   Key Personnel/Key Contact Person

15.10.5.   Key Product/Services Offered

16.      Strategic Recommendations

17.    About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Biofuel Market was USD 95.17 billion in 2022.

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The Liquid Biofuel segment demonstrated significant dominance in 2022. The liquid biofuel segment is a crucial component of the global biofuel market, encompassing a variety of fuels that are in liquid form and derived from biomass resources. Liquid biofuels are used primarily in the transportation sector as a cleaner and more sustainable alternative to conventional fossil fuels.

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North America dominated the market in 2022.

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Increasing Global Focus on Sustainable Energy is one of the major drivers for the Global Biofuel Market.

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Parvati Sharma

Account Manager BD
Press Release

Biofuel Market is expected to grow at a CAGR of 9.51%

Nov, 2023

Global Biofuel Market is expected to grow owing to governments, private companies, and research institutions investing in research and development to explore new biofuel technologies, enhance feedsto

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