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Biofuels Market Future On Recent Innovation 2026 Key Players | Renewable Energy Group, Inc., RB FUELS, Ag Processing, Inc., Elevance, Marathon Petroleum Corporation
Biofuels Market
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Market Analysis: Global Biofuels Market
Global Biofuels Market is expected to rise from its initial estimated value of USD 181.64 billion in 2018 to an estimated value of USD 263.30 billion by 2026 registering a CAGR of 4.75% in the forecast period of 2019-2026. The growing demand of vegetable oil is influencing the biofuels market to grow.
Key Market Competitors: Global Biofuels Market:
Few of the major competitors currently working in biofuels market are Biofuels Digest, Neste Netherlands B.V., Infinita Renovables SA, Cargill, Marseglia Group, Glencore, Louis Dreyfus Holding B.V., Renewable Energy Group, Inc., RB FUELS, Ag Processing, Inc., Elevance, Marathon Petroleum Corporation, Evergreen Bio Fuels, Minnesota Soybean Processors, Caramuru Alimentos S.A., ENF Ltd., Hebei Jingu, Hebei Jingu, Shandong Jinjiang, Valero Marketing and Supply Company, Green Plains Inc., Flint Hills Resources, Abengoa Bioenergy, Pacific Ethanol, Inc., CropEnergies AG, Ra zen, The Andersons, Inc., BTG International Ltd.
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Market Definition: Global Biofuels Market
Biofuels are produced to replace gasoline, diesel fuel and coal, which are "non-renewable energy sources" since they are produced by animals and plants that died a large number of years earlier. Biofuels are made from plants that have recently been reaped. Biofuel is also used as a first-generation fuel. It is also used in preventing vitamin A deficiency, cancer, brain disease, aging; and treating malaria, high blood pressure, high cholesterol, and cyanide poisoning.
Segmentation: Global Biofuels Market
Biofuels Market : By Type
Biodiesel
Bioethanol
Propanol
Butanol
Methanol,Biogas
Biofuels Market : By Feedstock
Corn
Sugarcane
Vegetable Oils
Biofuels Market : By Form
Solid
Fuel Pellets Liquid
Gaseous
Biofuels Market : By Geography
North America
South America
Europe
Asia-Pacific
Middle East and Africa
Key Developments in the Market:
In June 2017: My Eco Energy (MEE) plans to sell biodiesel, marketed under the brand name of Indizel, in canisters (5, 10 & 20 liters) through retail supply model in cities across India. The biofuel, manufactured the company, is made from recycled and waste vegetable oils & fats, and is capable of outperforming petroleum diesel in performance, emissions, mileage, price, and value.
In November 2017, Abengoa has been awarded the contract for the engineering, design, construction, and commissioning of municipal solid waste (MSW)-to-biofuels plant for Fulcrum BioEnergy. The plant, located in the State of Nevada, is expected to produce 10 million gallons of biofuels per year, to be used in the aviation sector.
Market Drivers:
Low price of biofuels than other vegetable oils is expected to boost the market growth
Improving economic conditions, rising living standards and changing eating habits are also contributing in the growth of the market.
Due to low carbon emissions, growing automobile industry are also helping market to grow.
Market Restraints:
High investments for installing biofuels and biogas plants.
Due to urbanization, lack of spaces in surroundings for biofuel plants to get settled.
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