Global Biofuels Market is Expected to Increase around US$ Mn by 2025, Due to Increased Application of Biofuels in Transport and Power Generation

Global Biofuels Market is Expected to Increase around US$ Mn by 2025, Due to Increased Application of Biofuels in Transport and Power Generation

“The Global Biofuels Market is anticipated to reach about US$ Mn by 2025, and anticipated to expand at a CAGR over seven years of forecast period 2019-2025” owing to increased application in transport and power generation.

Precision Business Insights (PBI) in its report titled “Global Biofuels Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

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The global biofuels market size was accounted for US$ Mn in 2018 and anticipated to account for US$ Mn by 2025. Biodiesel used as replacements for transportation fuels like petroleum, diesel and jet fuel will create a demand for the growth of global biofuels market. However, factors such as exhausting fossil fuels, growing global population, and stringent environmental policies are stoking the growth of the market.

Global biofuels market segmented on the basis of type, application and end user.

Biodiesel Segment Expected to Dominate the Market

Based on type, the global biofuel market is segmented into biodiesel and bioethanol. Biodiesel segment is expected to dominate the market due to increasing environmental concerns and the need for energy independence. Biodiesel can be produced using various feedstocks and can be used in diesel vehicles without any modification to the engine.

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Asia Pacific, Accounts for Major Revenue Share for Global Biofuels Market

Precision Business Insights (PBI), global biofuels market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific biofuels market has lucrative growth attributed to driving factors like availability of feedstock, the government’s law to support the approval of bio-based fuel alternatives and multiple uses of biofuels are likely to spur the biofuels market. The surging demand for bio-diesel in developing countries like India, China and Japan and growing focus on reliable, affordable and sustainable energy is the opportunities created in the region which in turn is expected to boost the biofuels market over the forecast period. Latin America is expected to be the future market for Biofuels market. Rising urban population, and rising middle-class consumer income witnesses new growth opportunities during the forecast period. Most of the focus of biofuels in Latin America and the Caribbean has been on countries like Brazil and Argentina, the two countries with the largest potential locally and globally. However, most Latin American countries have initiated to consider the production of biofuels for their own domestic markets, as well as for exports to the global market. These factors, in turn, are likely to accelerate the biofuels market in the region.

Strategic Collaboration Play Vital Role in Global Biofuels Market

Market strategies such as collaboration play an important role in the development of the market. For instance, In February 2016, Renewable Energy Group Inc. (Biofuel producer in U.S) has signed an agreement with Sanimax Energy, which is a U.S based company for acquiring its 20 million gallon nameplate capacity biodiesel refinery.

Key players in the market Aceites Manuelita S.A, Abengoa Bioenergy, Bajaj Hindustan Ltd, Archer Daniels Midland Company, Beckons Industries Ltd, BlueFire Ethanol Fuels Inc, Imperium Renewables, Inc, Renewable Energy Group Inc, Bangchak Petroleum Public Company Ltd, Solazyme Inc, Edmonton, Cosan S.A. Industria E Comrcio.

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Detailed Segmentation

By Type

o Bioethanol
o Biodiesel

By Application

o Solid (Biocoal, Biochar)
o Fuel Pellets Liquid (Biodiesel and Bioethanol)
o Gaseous (Biogas, Biopropane, and Syngas)

By Distribution Channel

o Hospitals
o Clinics
o Ambulatory Surgical Centers
o Others

Geography

o North America
 U.S.
 Canada
o Europe
 Germany
 UK
 France
 Russia
 Spain
 Italy
 Rest of Europe
o Asia-Pacific
 China
 Japan
 India
 ASEAN
 Rest of Asia Pacific
o Latin America
 Brazil
 Mexico
 Argentina
 Chile
 Rest of Latin America
o Middle East and Africa
 South Africa
 Gulf Cooperation Council Countries(GCC)
 Rest of MEA


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