Biofuels Market Report 2022- Exponential Growth by Size, Share, Trends and Future Plans Analysis by 2030
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Rising demand for reduced carbon-emitting fuels and advancements in algae-based biofuel generation are factors driving biofuels market revenue growth
VANCOUVER, BC, CANADA, September 19, 2022 /EINPresswire.com/ -- According to Emergen Research, The Biofuels Market report provides an in-depth analysis of the market on the basis of various parameters such as sales analysis, major driving factors, market trends, prime market players, prime investment pockets and market size, that aid in formulating sound business strategies and making informed decisions. The global Biofuels Market report covers an overview of the market and outlines market definition and scope. The ongoing technological developments and surge in demand have an influential effect on the market growth.
The global biofuels market size reached USD 154.76 Billion in 2021 and is expected to register a revenue CAGR of 7.0% during the forecast period. Biofuels burn cleaner than gasoline and result in low carbon emissions, therefore, their use in transport results in fewer greenhouse gas emissions. This factor is driving biofuel market revenue growth. Biofuels are manufactured from renewable energy sources, such as corn, biomass, and sugarcane, among others, thus, adoption of biofuels can result in significant savings on crude oil imports for several countries. Not every country has sufficient reserve of crude oil, which results in substantial import of crude oil from oil-exporting countries, in turn, resulting in major economic pressure.
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The global Biofuels Market report provides a comprehensive study of the dynamic driving and restraining factors, major challenges, and lucrative opportunities. Moreover, the study covers a SWOT analysis that aids in recognizing the restraining and driving factors in the market. Furthermore, the report outlines market segmentation and growth analysis of the top 10 market players that are currently active in the industry. The drivers and opportunities help in grasping the dynamic market trends and how market players can leverage such trends.
Key Players Profiled in the Report are:
Neste, Archer Daniels Midland (ADM), INEOS, BlueFire Renewables, Inc., Renewable Energy Group, Inc., Alto Ingredients, Inc., POET, LLC., Valero Energy Corporation, Shell, Abengoa, and Bunge Limited.
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Some Key Highlights
The ethanol segment is expected to register a rapid growth rate during the forecast period due to its easy availability and ability to reduce global warming. Tropical climate is ideal for sugarcane production and corn & grain are produced in almost every country, hence, easy accessibility of ethanol is driving its adoption in manufacturing of products including lacquers, drugs, and plastic. Ethanol-fueled vehicles emit a lower amount of carbon dioxide compared to traditional gasoline-fueled vehicles, which results in reduced global warming.
The sugarcane segment is expected to register a high growth rate over the forecast period. Biofuels, which are produced from sugarcane, results in low net greenhouse gas emissions and reduce adverse impact on environment. Sugarcane is an economical choice for biofuel producers and several benefits, such as pest & disease resistance, drought, and cold tolerance of crop, are driving its adoption as a raw material for biofuel production.
The Asia Pacific market is expected to grow at a rapid rate during the forecast period due to availability of considerable resources to produce biofuels. Market revenue growth is also driven by rising government initiatives in this region for reduction of greenhouse gases.
Furthermore, the report provides a comprehensive overview of the Biofuels market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
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Emergen Research has segmented the global biofuels market based on product type, feedstock, form, and region:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
Biodiesel
Ethanol
Biogas
Others
Feedstock Outlook (Revenue, USD Billion; 2019–2030)
Sugarcane
Corn
Vegetable Oil
Others
Form Outlook (Revenue, USD Billion; 2019–2030)
Solid Biofuel
Liquid Biofuel
Gaseous Biofuel
Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Biofuels market expected to boost the growth of the industry in the coming years.
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The global biofuels market size reached USD 154.76 Billion in 2021
Distribution channels: Energy Industry
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