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Automotive Industry Drives Growth In The Advanced Biofuels Market Outlook Driver: A Major Catalyst in the Evolution of the Advanced Biofuels Market Outlook in 2025
Advanced Biofuels Market Outlook
The rise in demand from the automotive industry is anticipated to boost the expansion of the advanced biofuels market in the future. The term "automotive industry" encompasses all businesses and operations related to the manufacturing of motor vehicles, including the majority of their components, such as the bodywork and engines, but not their tires, batteries, or gasoline. Advanced biodiesel is a type of second-generation biofuel, which is employed as a substitute for gasoline and diesel in the automotive industry. The usage of advanced biofuel is being spurred by its low carbon emissions. For example, in June 2023, data from the Department for Transport (DfT), a government agency in the UK, showed that the number of registered vehicles in the UK reached 40.7 million at the end of 2022, which was a 1.0% rise from December 2021. Thus, the escalating demand from the automotive industry is fuelling the growth of the advanced biofuels market.
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What Is the projected market size and growth rate for the advanced biofuels market?
The market size for advanced biofuels has witnessed a tremendous rise in recent times. The market, which was worth $116.85 billion in 2024, is projected to expand to $164.68 billion in 2025, implying a compound annual growth rate (CAGR) of 40.9%. The historic period's market expansion can be ascribed to factors such as renewable energy policies, environmental rules, fluctuations in crude oil prices, investments in research and development, and increasing consciousness about climate change.
The market size of advanced biofuels is projected to witness tremendous growth in the coming years. It is anticipated to expand up to "$654.34 billion in 2029, with a compound annual growth rate (CAGR) of 41.2%. The projected growth during the forecast period could be due to the enlargement of production facilities, global partnerships and agreements, financial rewards, competitive market conditions, as well as biofuel mandates and goals. The key trends observed during the forecast period include advancements in technology, policy backing, regulatory conditions, diversification of raw materials, global energy transformation, and increased commercial production.
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What new trends are reshaping the advanced biofuels market and its opportunities?
The emerging trend in the advanced biofuels market revolves around new product developments. Leading companies in this market are concentrating on introducing unique products to maintain their market prominence. For example, in February 2023, PRIO, a biofuels producer from Portugal, debuted their ECO Bunkers B30 biofuel, an advanced biofuel blend comprising 30%. This novel biofuel product has been derived from 30% advanced biofuel processed from waste raw materials. Post-production at PRIO's biodiesel factory, this fuel is blended at their tank terminal in Aveiro.
What major market segments define the scope and growth of the advanced biofuels market?
The advanced biofuels market covered in this report 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
Subsegments:
1) By Cellulosic Ethanol: Corn Stover, Sugarcane Bagasse, Wood Chips, Other Biomass Feedstocks
2) By Biofuel: Biodiesel, Renewable Diesel, HVO (Hydrotreated Vegetable Oil)
3) By Biobutanol: A-Biobutanol, B-Biobutanol, Other Butanol Types
4) By BioDME: Produced from Biomass, Produced from Methanol
5) By Other Fuel Types: Biogas, Renewable Jet Fuel, Synthetic Fuels
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Which region dominates the advanced biofuels market?
North America was the largest region in the advanced biofuels market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global advanced biofuels market report during the forecast period. The regions covered in the advanced biofuels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the advanced biofuels industry growth?
Major companies operating in the advanced biofuels market include Abengoa Bioenergy Co. LLC, Algenol Biofuels Inc., Chemtex Group, Bangchak Corporation Public Company Limited (BCP), Clariant Produkte GmbH, Fiberight LLC, DuPont Industrial Biosciences, GranBio Investimentos S.A., A2BE Carbon Capture LLC, Fujian Zhongde Energy Co. Ltd., Inbicon A/S, INEOS Technologies Limited, Poet-DSM Advanced Biofuel LLC, Green Biologics Ltd., ZeaChem Inc., Sundrop Fuels Inc., Amyris Inc., Gevo Inc., Renewable Energy Group Inc., Novozymes A/S, LanzaTech Inc., Mascoma Corporation, Solazyme Inc., Cool Planet Energy Systems, Enerkem Inc., Butamax Advanced Biofuels LLC, Codexis Inc., Coskata Inc., Aemetis Inc., Iogen Corporation, Siluria Technologies, Kiverdi Inc., Alkol Biotech Inc.
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What Is Covered In The Advanced Biofuels Global Market Report?
• Market Size Forecast: Examine the advanced biofuels market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the advanced biofuels market for a structured understanding.
• Key Players Overview: Analyze major players in the advanced biofuels market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the advanced biofuels market.
• Segment Contributions: Evaluate how different segments drive overall growth in the advanced biofuels market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the advanced biofuels market.
• Industry Challenges: Identify potential risks and obstacles affecting the advanced biofuels market.
• Competitive Landscape: Review strategic developments in the advanced biofuels market, including expansions, agreements, and new product launches.
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