Bio Fuels Market Study with focus on Company Profile, Product and Service, Business Operation Data by Forecast to 2023

Market Highlights:

The growth of the global biofuels market is majorly driven by the cleaner emission of biofuels than traditional fossil fuels. The biofuels market is increasingly used in the transportation sector as blended fuels to power automobiles and reduce the use of gasoline and diesel. The market is further driven by the requirement to meet climate change targets and the obligation to reduce CO2 emissions from transport sector operations. Recent strict legislations on global automotive sector have increased the use of biofuels as vehicle fuels in Europe and North American. However, the growth of this market can be restrained by the rise in price of raw materials and increased use of electric vehicles in the transport sector.

The versatile nature of bio fuels happens to be the essential growth driver for the market. They have the ability to be utilized in traditional engines with almost little to no modification. The development in the automobile sector is another aspect that propels the growth of the market.

Additional factors that further foster the development of the market can be enlisted as speedy economic development in the developing countries, usage of bio fuels in algae bio fuel technology & cellulosic, initiatives & campaigns by the government in favor of this product and lastly higher margin of investments in research & development activities.

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Industry News:-

April 16, 2018 – Red Rock Biofuels a major player in this market recently declared that it will be starting the construction process on a new plant in south-central Oregon. This facility is anticipated to annually convert around 136,000 tons of woody bio mass and forest bi-products into 15 million gallons of renewable fuels.

Market Segmentation:-

The research report distributed by Market Research Future on the topic ‘Bio Fuels Market’ consists of a special section that is concerned with providing a detailed segmental analysis for the market. Here is a glimpse of that part of the report.

By composition – Miscellaneous, starch feedstocks, lingnocellulosic and sugar feedstocks.

By fuel type – Ethanol and bio diesel.

By feedstock type – Ethanol feedstock and bio diesel feedstock.

By application – Power generation and transportation.

Top Key Players:-

The key players of Global Bio Fuels Market are Archer Daniels Midland Company (U.S.), Aceites Manuelita S.A.( Colombia ), Abengoa Bioenergy, Inc.(Spain), INEOS Group AG (U.K.), Neste Corporation (Finland), Renewable Energy Group, Inc (U.S.), BlueFire Renewables (U.S.), Cosan S.A. Indústria E Comércio (Brasil), Infinita Renovables SA (Spain) and BioWanze SA (Belgium).

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Regional Analysis:-

Global Bio Fuels Market:-

The bio fuel market is gaining importance because of the swift economic development around the world and strict environmental regulations that enable the use of biofuels. In recent years, the bio fuels market has seen rapid development in cellulosic and algae bio fuel technology. These technologies majorly involve the use of feedstock such as grass, corn stover, and algae for the bio ethanol and bio diesel production.

The market is predominantly driven by the use of biofuels in the transportation and aviation sectors. Because of this, the major automobile and aviation manufacturers are coming up with biofuel compatible engines and power trains. The market is driven by the favourable regulations and policies in the North American and the European regions. Constant investment in research and development of bio fuels and increased focus to commercialise biofuels in these regions is driving this trend. The Asia-Pacific region is expected to see major growth because of countries such as China and India, which are growing as prime consumers of biofuels especially ethanol.

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