At A CAGR 22.47%, Next Generation Biofuels Market Is Expected To Dominate By Biodiesel

Demand for secure, sustainable, and clean energy coupled with government mandates for increasing blending in automotive fuels are major factor attributable to the growth of the market.

According to TechSci Research report, "Global Next Generation Biofuels Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028". The Global Next Generation Biofuels is anticipated to project robust growth in the forecast period with a CAGR of 22.47% through 2028, The next generation biofuel market is majorly driven by rise in necessity to produce sustainable and clean energy, with negligible environmental impact. Second generation biofuel production technology allows manufacturing of commercially acceptable fuel that is developed with the help of inedible biomass. The key feedstocks that are used for next generation biofuels are non-food crop residues and agricultural residues, energy crops, wastes procured from forestry industry and algae. Based on Biofuel Type, Biodiesel Fuel Type to Witness Significant Growth.

Biodiesel is a mixture of monoalkyl esters of long-chain fatty acids derived from renewable biological sources such as vegetable oils. It emerged as an alternative fuel for the transportation sector in recent years. The conventional method of producing biodiesel is through homogeneous catalytic transesterification. However, increased production costs associated with downstream purification steps have led to the development of more cost-effective and environment-friendly technologies.

These advanced production technologies involve heterogeneous or enzymatic catalysts to produce biodiesel, as well as no catalysts in supercritical conditions. In the last two decades, the production and consumption of liquid biofuels increased exponentially worldwide. The rising consumption of biofuels is driven by public policies that authorize and, in many cases, advocate for their use. One of the most used instruments by major countries is biofuel use mandates.

Browse over XX market data Figures spread through 188 Pages and an in-depth TOC on " Global Next Generation Biofuels Market."
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Indonesia, the United States, and Brazil are among the largest biodiesel producers in the world, totaling some 9.5, 6.9, and 6.2 billion liters, respectively, in 2021. Global biodiesel production reached 734 thousand barrels of oil equivalent per day, i.e., an increase of about 3% when compared to 2020 (712 thousand barrels of oil equivalent per day). Based on Region, North America plays a significant role in the global Next Generation Biofuels market, The North American region houses one of the biggest aviation markets and a well-established terrain transportation infrastructure primarily on fossil fuels. North America has been at the forefront of lowering emissions to limit the greenhouse effect. In North America, the United States is the largest producer of advanced biofuels, with significant investments in R&D with a substantial number of patents for biofuels to their credit.

In 2021, according to the BP Statistical Review of World Energy 2022, the United States produced 643 thousand barrels of oil equivalent of biofuel per day, i.e., an increase of about 7.1% when compared to the previous year's value (602 thousand barrels of oil equivalent per day). Strong mandates drive the advanced biofuel market in the country. There are policies that specify reductions in fuel life-cycle carbon intensity, such as California's low carbon fuel standard. These policies may boost the demand for biofuel and support the deployment of novel and advanced biofuels.

The new US Renewable Fuels Standard (RFS), signed recently as part of the revised Energy Bill, set high goals for the country's biofuel industry. It set a production target of 36 billion gallons of biofuels annually, mainly ethanol and biodiesel, with 21 billion gallons coming from "advanced biofuels," which can be produced using multiple feedstocks and technologies. Based on the above factors, North America is expected to witness significant growth in the global advanced biofuel market during the forecast period.

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Key market players in the Global Next Generation Biofuels Market are following:-

• Abengoa Bioenergy
• Chemtex Group
• Bankchak Petroleum
• Clariant Produkte GmbH
• DuPont Industrial Biosciences
• Fujian Zhongde Energy Co. Ltd
• INEOS Bio
• KiOR Inc.
• Sundrop Fuels Inc.

"Global next-generation biofuels are driven by a convergence of factors aimed at addressing critical challenges like climate change, energy security, and sustainability. Environmental concerns are a primary driver, with the need to reduce greenhouse gas emissions and combat climate change pushing the development of cleaner, low-carbon biofuels. Energy security is another key motivator, as countries seek alternatives to reduce their dependence on imported oil and stabilize energy prices. Policy initiatives, such as renewable energy mandates and incentives, provide a regulatory framework that encourages investment in biofuel production.

Technological advancements, including improved feedstock diversity and more efficient conversion processes, make biofuels increasingly competitive. Additionally, growing public awareness and support for sustainable energy sources, along with research and development funding, are propelling the biofuel industry forward. As global concerns about environmental sustainability and energy independence continue to mount, next-generation biofuels are well-positioned to play a vital role in the future of renewable energy." said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Next Generation Biofuels Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Raw Material (Jatropha, Lignocellulose, Algae, and Other Raw Materials), Biofuel Type (Cellulosic Biofuel, Biodiesel, Biogas, Biobutanol, and Others), Technology (Biochemical and Thermochemical), By Region, Competition 2018-2028 has evaluated the future growth potential of Global Next Generation Biofuels Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Next Generation Biofuels Market.

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Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.3. Markets Covered
1.4. Years Considered for Study
1.5. Key Market Segmentations

2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. Global Next Generation Biofuels Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Raw Material (Jatropha, Lignocellulose, Algae, and Other Raw Materials)
5.2.2. By Biofuel Type (Cellulosic Biofuel, Biodiesel, Biogas, Biobutanol, and Others)
5.2.3. By Technology (Biochemical and Thermochemical)
5.2.4. By Region
5.3. By Company (2022)
5.4. Market Map ….Conti…

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