Global Biofuel Market – Competitive Insights, Influencing Factors, Market Size & Forecasting (2016-2028)

The biological process of deriving sources of energy from renewable biomass is known as biofuel. Conventional sources of fuel, such as coal, oil, natural gas, etc., release hazardous gases that cause pollution, resulting in climate change and depletion of the ozone layer. Therefore, biofuel is being preferred as a conventional source of energy.

The demand for liquid biofuel is higher as compared to solid as well as gaseous biofuel. Moreover, agricultural waste is used for making biofuel. In 2017, agricultural waste accounted for 36% of the total biofuel production.

Biofuel is an economically important and versatile vegetable oil used as a raw material for both food and non-food products. Biofuel is also used as a first-generation fuel. It is used in preventing vitamin A deficiency, cancer, brain disease, aging, and for the treatment of malaria, high blood pressure, high cholesterol, and cyanide poisoning.

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Other factors, such as the rising prices of conventional sources of energy have also influenced the growth of the biofuel market. Traditionally, only road transport sectors used biofuel. However, now, sectors such as aviation and marine have also started using biofuel. According to IATA, the global aviation industry aims at accomplishing carbon-neutral growth by 2020 and reducing carbon dioxide emissions by 50% before 2050.

The upcoming report from Quince Market Insights focuses on these key impact factors influencing the market, along with identifying major segments and companies operating in the market. The study is designed to provide a holistic view with a broad scope covering every possible segment influencing the demand for biofuel.

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Key Market Players:

• Abengoa Bioenergy S.A.
• Cargill
• Incorporated
• BTG International Ltd
• DuPont
• Wilmar International Ltd
• Renewable Energy Group, Inc.
• POET
• LLC
• Archer Daniels Midland Company,
• VERBIO Vereinigte BioEnergie AG,
• My Eco Energy, China Clean Energy Inc.
• CropEnergies AG

Market Segmentation:

By Product:

• Bioethanol
• Biodiesel

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By Form:

• Solid
• Biocoal
• Biochar
• Fuel Pellets
• Liquid
• Biodiesel
• Bioethanol
• Gaseous
• Biogas
• Biopropane
• Syngas

By Feedstock Type:

• Starch-based
• Sugar-based
• Cellulose-based
• Vegetable Oils
• Animal Fat
• Biomass
• Others

By End User:

• Transportation
• Electricity Generation
• Industrial
• Heating
• Others

This upcoming study will be published shortly with a focus on key stakeholders in the market. Regions covered in the study include North America, Asia Pacific, Western Europe, Eastern Europe, the Middle East, and Rest of the World.

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About Quince Market Insights:

Quince Market Insights is a global market research and consulting company publishing syndicate studies as well as consulting assignments pertaining to market opportunities that promise high growth in the future. The company also provides information on different research practices such as competitive analysis, product mapping, value chain analysis, etc., assisting clients in strategic decision-making.

This release was published on openPR.