Global Biofuels Market: Key Trends, Industry Opportunities and Forecast

The latest industry research report on Biofuels Market by MRC provides a thorough analysis of the Global Biofuels Market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc. over the predicted time frame. This report provides 360 Degree perspective of the Biofuels industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative analysis of the industry taking into consideration the significant development factors, competition in the market, and important reasons impacting the market growth.

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key players in the global biofuels market: Archer Daniels Midland, Cargill, INEOS, NESTE, and Renewable Energy Group

Other Prominent Vendors in the market are: Algenol, Altenesol, Argent Energy, Bay Biodiesel, biomax fuels, BIOX, Bunge, Butamax Advanced Biofuels, China National Petroleum, DuPont, Ecodiesel Colombia, Fiberight, Fujian Zhongde Energy, FutureFuel, GeoGreen Biofuels, GranBio, Green Plains, Jiangsu Yueda Kate New Energy, KFS Biodiesel, Koch FHR, Longyan Zhuoyue New Energy, Louis Dreyfus Company, RB FUELS, Solfuels, Valero Marketing and Supply Company, Vance Group, White Mountain Biodiesel, Wilmar International, and YAMUNA BIO ENERGY.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Research on third-generation biofuel: Algae fuel. First-generation biofuels are produced using vegetable oil, starch, sugar, and animal fats. Second-generation biofuels, known as advanced biofuels, are produced from feedstock that is not consumed as food. Second-generation fuels are produced using non-food crops such as wood (sawdust), organic waste (corn-Stover), and specific biomass plants such as jatropha, camelina, and switchgrass. Biofuel technology has further evolved with the introduction of third-generation biofuels. Third-generation biofuels are derived from algae that offer numerous advantages over other sources in producing biofuels.”

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According to the report, one of the major drivers for this market is Increased adoption of renewable sources of energy. Rise in GHG emissions is of prime concern to mankind nowadays as these emissions have harmful implications and can cause valuable ozone layer depletion, resulting in global warming, melting of ice caps, and change in weather conditions. The need to reduce GHG emissions and prevent the degradation of the environment are the major driving forces for the rapid adoption of renewable sources of energy.

Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in oil prices. Biofuels have direct competition from convention fossil fuels. The global oil and gas industry is highly dependent on crude oil prices. Crude oil prices have witnessed several highs and lows in the recent past. Also, the crude oil price cycle has not exhibited a consistent trend over the past few years. The prices of crude oil crashed from over $100/bbl in June 2014 to around $50/bbl in December 2016. This project the volatile nature of the global crude oil market. The whole petroleum industry has witnessed a decline in growth owing to frequent fluctuations in crude oil prices. This in turn can affect the alternate fuels market, which is still at a growing stage with a relatively low share in global fuel consumption.

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Biofuels are renewable fuels that are produced through biological processes such as anaerobic digestion or agriculture, rather than the fuels produced through geological processes such as coal and petroleum. Biofuels primarily include ethanol and biodiesel and have numerous advantages such as lower carbon emissions over fossil fuels.

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