Bio Fuels Market Size, Share, Growth Analysis, Competitive Market Strategies and Forecasts To 2023

Market Overview:-

The global biofuels market is anticipated to expand at 5.7% CAGR during the forecast period (2017-2023), asserts Market Research Future (MRFR). Factors driving the market growth are improving economic conditions, changing eating habits in emerging countries, and high demand for vegetable oil as a feedstock for biodiesel production. Low price of biofuels compared to vegetable oil is expected to boost the market size globally. Apart from this, growing market players and increased production of biofuel have opened up new avenues in the market. Shift towards secure, sustainable and clean energy has been observed which is expected to drive the market growth. Diverse applications extensively use biofuels which include transportation, agriculture, forestry and mining and others. Moreover, the biofuel improves the air quality and in turn reduces particulate emissions. This has a positive impact on the environment. Noteworthy factors such as sky-high gasoline prices and high level of pollution are shifting the consumers’ preference towards biofuel.

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Bio fuel can be in simple terms called as organic fuel. It is because the fuel is derived from biological matters like crops, agricultural wastes, trees, crops and animal residues. The most beneficial thing about this form of fuel is that it does not release any sort of toxic gases into the environment. The main application for this fuel is as an alternative to the traditional forms of fuel.

At present, the world is perceiving an all-time high demand for bio fuels. This is the primary reason why experts of this market believe that bio fuels market will expand tremendously during the projection period. The revenue turnover figures look pretty promising and the approximate CAGR for this term will be 5.7%.

Competitive Analysis:-

The highly competitive market for biofuels is growing remarkably due to presence of key players such as Abengoa Bioenergy Inc. (Spain), INEOS Group AG (U.K.), Archer Daniels Midland Company (U.S.), and BioWanze SA (Belgium).

Finnish biofuel company Neste will acquire a majority stake in the Dutch company, Demeter Animal Fats, and Proteins, with Neste being the controlling shareholder by buying 51% of the total share. This acquisition is a business strategy adopted by Neste in a bid to expand its biofuel platform, secure raw material availability from Demeter and further establish its position in the global biofuel market.


Regional Analysis:-

Based on regions, the market is segmented on the basis of North America, Europe, Asia-Pacific and the Middle-East and Africa.

MRFR experts opine that the Asia-Pacific biofuel market is projected to witness the strongest growth due to the presence of countries such as China and India, which are major contributors in terms of biofuels particularly ethanol. In the backdrop of constant challenges with the availability of fossil fuels and the impact of global warming, the demand for biofuel in this region has risen significantly over the past few years. The governments across countries in the region are supporting the biofuel market in the form of subsidies and tax incentives leading to profits churned out by biofuel producing companies.

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The biofuel market in North America region is shaping up emphatically owing to favorable regulations and policies, innovation support, high demand from agricultural sectors and shifting focus on environmental issues. The region is also blessed with copious amount of raw materials that are used for the production of bio-diesel such as rape-seeds, soybean, and sugarcane. Also, the Canadian government is promoting the use of biodiesel in a bid to reduce carbon emissions from automotive vehicles. The region has observed expansion of biodiesel manufacturing plants, which increases the demand for biodiesel.


Table Of Contents:-

1 Executive Summary

2 Research Methodology

2.1 Scope Of The Study

2.1.1 Definition

2.1.2 Research Objective

2.1.3 Assumptions

2.1.4 Limitations

2.2 Research Process

2.2.1 Primary Research

2.2.2 Secondary Research

2.3 Market Size Estimation

2.4 Forecast Model

3 Market Dynamics

3.1 Market Drivers

3.2 Market Inhibitors

3.3 Supply/Value Chain Analysis

3.4 Porter’s Five Forces Analysis

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4 Global Biofuel Market, By Fuel Type

4.1. Introduction

4.2. Bio-Diesel

4.3. Ethanol

5 Global Biofuel Market, By Application

5.1 Introduction

5.2. Transportation

5.3. Power Generation

5.4 Others

Continued.......

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This release was published on openPR.