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Advanced Biofuels Market Size, Industry Trends, Regional Outlook, Competitive Landscape, And Forecast To 2032
Advanced Biofuels Market Analysis
The Business Research Company's Advanced Biofuels Global Market Report 2023 identifies increasing demand from the automotive industry as the major driver for the advanced biofuels market's growth in the forecast period. The automotive industry refers to all businesses and endeavors concerned with the production of motor vehicles, including the majority of their parts, such as their bodywork and engines, but excluding their tires, batteries, and gasoline. Advanced biodiesel refers to a second-generation biofuel that is utilized in the automotive industry as a replacement for gasoline and diesel. Low carbon emissions are the driving force behind the adoption of advanced biofuel in the automotive industry.
The global advanced biofuels market size is expected to grow from $53.79 billion in 2022 to $81.79 billion in 2023 at a compound annual growth rate (CAGR) of 41.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global advanced biofuels market size is expected to reach $325.63 billion in 2027 at a CAGR of 41.3%.
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Major competitors in the advanced biofuels market are Abengoa Bioenergy Co. LLC, Algenol Biofuels Inc., Chemtex Group, Bangchak Corporation Public Company Limited (BCP), Clariant Product GmbH.
A key trend in the advanced biofuels market includes product innovations. Major companies in the advanced biofuels market are focusing on launching innovative products to sustain their position in the market. For instance, in February 2023, PRIO, a Portugal-based producer of biofuels, launched the ECO Bunkers B30 biofuel, a new 30% advanced biofuel blend. It is a brand-new biofuel product that contains 30% advanced biofuel made from waste raw materials. The fuel is combined at PRIO's tank terminal in Aveiro after being manufactured at its biodiesel plant.
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The advanced biofuels market is segmented -
1) By Fuel Type: Cellulosic Ethanol, Biofuel, Biobutanol, BioDME, Other Fuel Types
2) By Processing Technology: Thermochemical, Biochemical
3) By Raw Material: Jatropha, Camelina, Algae, Simple Lignocellulose, Other Raw Materials
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the advanced biofuels market.
The Business Research Company's "Global Advanced Biofuels Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Advanced Biofuels Market Include:
1. Executive Summary
2. Advanced Biofuels Market Characteristics
3. Advanced Biofuels Market Trends And Strategies
4. Advanced Biofuels Market - Macro Economic Scenario
5. Advanced Biofuels Market Size And Growth
…..
26. Africa Advanced Biofuels Market
27. Advanced Biofuels Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Advanced Biofuels Market
29. Advanced Biofuels Market Future Outlook and Potential Analysis
30. Appendix
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