openPR Logo
Press release

Biofuels Market | Expected to reach $153.8 billion by 2024

04-09-2020 07:32 AM CET | Energy & Environment

Press release from: Decision Market Reports

The global liquid biofuels market should reach $153.8 billion by 2024 from $136.2 billion in 2019 at a compound annual growth rate (CAGR) of 2.2% for the forecast period of 2019 to 2024.

Get Free PDF Sample Brochure @ https://decisionmarketreports.com/request-sample/1320247

Biofuel is a solid, liquid, or gaseous fuel derived from recently dead biological material as distinguished from fossil fuels derived from long dead biological material. Theoretically, biofuels can be produced from any biological carbon source; however, the most common sources are photosynthetic plants. Currently, the most common biofuels are liquid fuels used primarily in transportation applications. In this report, the term biofuels will be used in this context.

In world regions outside of North America, the biofuels market was worth about REDACTED in 2018 and REDACTED in 2019. The market is forecast to grow at a CAGR of REDACTED to REDACTED in 2024, with most of the growth coming from biodiesel and advanced biofuels such as cellulosic ethanol. The greatest market growth will take place in a few EU member states, Asia-Pacific and South America. The Africa and Middle East regions will remain relatively under-developed due to a lack of investment.

Know More about research methodology & COVID-19 impact on industry @ https://decisionmarketreports.com/request-methodolgy/1320247

There are a number of reasons for the projected relatively gradual increase in biofuels consumption in most major markets. Biofuels consumption is to a large extent policy-driven, i.e., the result of various government mandates and incentives. A number of government policy objectives provide the motivation for these mandates and incentives, including increasing energy security and reducing greenhouse gas (GHG) emissions. Most major biofuel consuming nations already have a policy framework for biofuels in place, so new regulations are unlikely to lead to major increases in biofuels consumption in the near to mid-term.

The next most important market driver for biofuels is the price of oil. The price of benchmark Brent crude oil, which at times has been as high as $145 per barrel, was slightly over $71 in 2018 and is expected to decline still further in the next few years.

Feedstock costs are another major influence on the market for biofuels. Feedstocks prices can swing wildly from high to low, disrupting farmers' planting plans, the cost of manufacturing biofuels, and the profitability of ethanol and biodiesel. For example, U.S. corn production has been at record high levels in recent years, which has kept corn prices generally stable in the $3.40 and $4.00 per bushel range, and increased the profitability of U.S. ethanol production. U.S. corn prices increased somewhat in 2019, but it is difficult to draw any conclusions about a long-term trend that might put a damper on ethanol production.

A more serious consequence of increased biofuel demand is the impact on world food and feed prices. The global rise in population, and greater percentage of food crops used to manufacture biofuels, has been criticized for diverting food away from the human food chain, leading to food shortages and price rises. Land and water use are other challenges. The desire to diversity away from biofuel feedstocks that compete with other human needs, of course has been the driver behind the development of so-called advanced biofuels such as cellulosic ethanol and algal biodiesel. However, the technological obstacles to commercializing these advanced biofuels have proven greater than some proponents once envisioned.

Contact Us
Gasper James
304, S Jones Blvd,
Las Vegas,
NV 89107, USA
US Toll Free +18666051052
Email: sales@decisionmarketreports.com
Web: http://decisionmarketreports.com/

Decision Market Reports is a one-stop solution, covers market research studies of all the industries, companies and regions. DMR aims at providing quality research, and insights about every market to helps our clients in taking right decisions. Our repository consists of most trending industry reports, niche areas, and leading company profiles. A comprehensive collection of reports is updated daily to offer hassle-free access to our latest updated report databases.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Biofuels Market | Expected to reach $153.8 billion by 2024 here

News-ID: 2004605 • Views: 179

More Releases from Decision Market Reports

Embedded Systems In Automobile Market | Technological and Market Developments & …
Embedded Systems In Automobile Market Reports presents an in-depth assessment of this report including market drivers, challenges, enabling technologies, vertical market opportunities, applications, key trends, standardization, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report mainly studies the size, recent trends and development status of the Embedded Systems In Automobile market, as well as investment opportunities, government policy, market dynamics (drivers, restraints, opportunities), supply chain and competitive landscape.
Direct Methanol Fuel Cells Market 2020 | COVID-19 Impact Analysis & Top Player A …
The Direct Methanol Fuel Cells Market was valued at USD 102.5 Million in 2014, and is projected to reach a market size of USD 188.7 Million by 2020, at a CAGR of over 15% during the forecast period. Direct Methanol Fuel Cells Market Reports presents an in-depth assessment of this report including market drivers, challenges, enabling technologies, vertical market opportunities, applications, key trends, standardization, opportunities, future roadmap, value chain, ecosystem player
Employee Advocacy Software Market 2027 - PostBeyond, DrumUp, Hootsuite, Dynamic …
Employee Advocacy Software Market Size, Status and Forecast 2020-2027 Report present the worldwide analysis with in depth study of Top players, region, type and application and its future scope. The report mainly studies the size, recent trends and development status of the Employee Advocacy Software market, as well as investment opportunities, government policy, market dynamics (drivers, restraints, opportunities), supply chain and competitive landscape. Technological innovation and advancement will further optimize the
Edge Data Center Market 2027 - Schneider Electric, Flexential, Vertiv, Rittal, E …
Edge Data Center Market Research Report and Forecast to 2020-2027 Report provide an extensive research on the fast-evolving Edge Data Center Market. It also gives competitive landscape of the leading companies with regional and Global analysis of the market till 2027. The report mainly studies the size, recent trends and development status of the Edge Data Center market, as well as investment opportunities, government policy, market dynamics (drivers, restraints, opportunities), supply

All 5 Releases


More Releases for REDACTED

Gas Engines for Drones and Electric Vehicles: Global Markets Through 2023 : BAIC …
Researchmoz added Most up-to-date research on "Gas Engines for Drones and Electric Vehicles: Global Markets Through 2023" to its huge collection of research reports. "Summary The internal combustion engine, the most common engine used in commercial and consumer vehicles, is a study in contrasts when it comes to environmental considerations. On the one hand, there is pressure to discontinue or reduce use of these gas-powered engines because of CO2 emissions. On
Polyamides Market is expected to increase at a compound annual growth rate (CAGR …
Researchmoz added Most up-to-date research on "Polyamides: Types and Global Markets" to its huge collection of research reports. "Summary Polyamides are characterized by amide groups (CONH) and include a range of types such as PA66, PA4/6, PA6, PA6/12, PA12 and others. It is used in the manufacture of fiber and film and is also available as a molding compound. Polyamides are the biggest family of engineering plastics, with a wide range of
Solar Electric Power Generation growth rate (CAGR) of REDACTED% to nearly $REDAC …
Researchmoz added Most up-to-date research on "Solar Electric Power Generation: Global Markets to 2023" to its huge collection of research reports. "Summary The solar electric power generation market growth outlook is stable with significant growth potential for electricity from residential customers. There is mounting pressure to reduce costs, improve power supply and improve efficiency of solar generation. At the same time, factors such as emerging market growth, rapid urbanization and industrialization are
Gas Engines for Drones and Electric Vehicles Market 2018-2023: Top Key Players l …
Orbis Research Publish a New Market Research Report On - “Global Gas Engines for Drones and Electric Vehicles Market”. The Report Covers Industry Trends, Statistic, Segmentation, Growth, Market Share, Revenue, Leading Players, Region, Types and Application. Global Gas Engines for Drones and Electric Vehicles Market 2018-2023: This report covers the global gas engines for drones and electric vehicles market, including regional analysis of North America, Latin America, Europe, the Asia-Pacific region and
The Chinese Market for Wastewater Treatment to 2022| Beijing Capital, Caprari S. …
Albany, NY, 23rd August : Recent research and the current scenario as well as future market potential of "The Chinese Market for Wastewater Treatment" globally. Wastewater treatment efforts created a market of more than REDACTED in China in 2016. There will be more than REDACTED of wastewater treated in China in 2017, and more than REDACTED are reused. Get PDF for more Professional and Technical insights @ https://www.researchmoz.us/enquiry.php?type=S&repid=1641460 The market grew at double-digit
Gas Engines for Drones and Electric Vehicles Market 2023 - BAIC Group, BMW, Hond …
MarketResearchReports.biz announces the availability of a report on the evolving market of Gas Engines for Drones and Electric Vehicles: Global Markets Through 2023 The internal combustion engine, the most common engine used in commercial and consumer vehicles, is a study in contrasts when it comes to environmental considerations. On the one hand, there is pressure to discontinue or reduce use of these gas-powered engines because of CO2 emissions. On the other