Biofuel is an economically important and versatile vegetable oil used as a raw material for both food and nonfood products. Biofuel is most widely used vegetable oil in the world and is found in supermarkets ranging from sweets, baked goods, margarine, cereals, washing powders, and cosmetics. Biofuel is also used as a first-generation fuel. It is also used in preventing vitamin A deficiency, cancer, brain disease, aging; and treating malaria, high blood pressure, high cholesterol, and cyanide poisoning. Most biofuels are produced in Asia, Africa, and South America because the trees require warm temperatures, sunlight and plenty of rain in order to maximize crop production.
Asia Pacific biofuels market is expected to register highest growth over the forecast period. Some driving factors like availability of feedstock, the government\'s law to support the approval of bio-based fuel alternatives and multiple uses of biofuels are likely to spur the biofuels market. The surging demand for bio-diesel in developing countries like India, China and Japan and growing focus on reliable, affordable and sustainable energy is the opportunities created in the region which in turn is expected to boost the biofuels market over the forecast period.
Latin America is expected to be the future market for Biofuels market. Rising urban population, and rising middle-class consumer income witnesses new growth opportunities during the forecast period. Most of the focus of biofuels in Latin America and the Caribbean has been on countries like Brazil and Argentina, the two countries with the largest potential locally and globally. However, most Latin American countries have initiated to consider the production of biofuels for their own domestic markets, as well as for exports to the global market. These factors, in turn, are likely to accelerate the biofuels market in the region.
Global Bio Fuels market size will increase to 247500 Million US$ by 2026, from 175000 Million US$ in 2020, at a CAGR of 4.4% during the forecast period. In this study, 2021 has been considered as the base year and 2021 to 2026 as the forecast period to estimate the market size for Bio Fuels.
This report covers the present status and the future prospects of the global Bio Fuels market for 2015-2026.
The report offers detailed coverage of Bio Fuels industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Bio Fuels by geography. The report splits the market size, by volume and value, on the basis of application type and geography.
And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].
Key Companies
Copersucar S.A DSM, Green Plains Inc, Aemetis Inc, Western Dubuque Biodiesel Llc, Solazyme Inc, Renewable Energy Group, Raizen Energia Participacoes S.A, BlueFire Renewables, Aventine Renewable Energy Holdings, Australian Renewable Fuels Ltd
Market Segment as follows:
Market by Order Type
Bioethanol
Biodiesel
Bio Fuels Breakdown Data by Application
Edible oil
Cosmetics
Bio-diesel
Lubricants
Surfactants
Other applications
Bio Fuels Production market while maintaining their competitive edge over their competitors. The report offers detailed and crucial information to understand the overall market scenario.
By Region
Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia]
Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
North America[United States, Canada, Mexico]
Middle East & Africa[GCC, North Africa, South Africa]
South America[Brazil, Argentina, Columbia, Chile, Peru]
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Bio Fuels market for the forecast period 2021 - 2026?
• What are the driving forces in the Bio Fuels market for the forecast period 2021 - 2026?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Bio Fuels industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?
Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.