Biofuels Market Size, Share & Trends Analysis Report By Form (Solid, Liquid, Gaseous), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027
The global Biofuels market gathered revenue around USD 136.9 Billion in 2020 and market is set to grow USD 232.4 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 7.9% during the prediction period 2021 to 2027.
Biofuels are the types of fuels that are derived from plants, animal waste, or algae material. They are considered as a renewable fuel as feedstock material utilized can be replenished at a faster rate as compared to conventional fossil fuels.
Rising environmental concerns and increase in various government policies by countries around the world to form regulations for the blending of biofuel has turned to be the key driver in broadening the market for biofuels.
Globally, increase in the demand for biofuel with addition to raising concerns for the energy security is likely to drive the market over the upcoming year. North America and European Union have formed a market by introducing new energy policies which stipulates the required rate to incorporate biofuels in petroleum products.
Few of the market leaders such as Green Plains Inc. and Biodico, Inc. are vertically integrated. Hence providing the companies an advantage in the procurement of raw material and distribution; thus, helping it to achieve various economies of scale. Some market leaders including Gevo Inc. and Wilmar International are repeatedly strengthening their core capabilities in the fields of supply chain management, operational excellence, and project execution.
However, raw material utilized for producing of biofuels are majorly agricultural crops such as corn and sugarcane. Further, large scale development of biofuels from agricultural crops poses a threat to food security and can affect availability of food products manufactured from these agricultural crops. These factors are expected to hinder the growth of the market during the forecast period.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Biofuels market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Biofuels market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
|Market Size||USD 232.4 Billion by 2027|
|Growth Rate||CAGR of 7.9% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Form and Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Bunge Limited; Archer Daniels Midland Company; Valero Energy Corp.; Petrobras; Butamax; Renewable Energy Corp.; Wilmar International; Algenol; Pacific Ethanol Inc.|
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Biofuels market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America held the largest market share of 37.1%, in terms of revenue, in 2020 owing to the presence of large amount of feedstock for biofuel production. Presence of supporting infrastructure for the production and favorable government policies for the utilization of these fuels in the region will result in growth of the market in the region.
Major growth is likely to be driven by Brazil, the U.S., China, and the European Union. However, other countries have been projected to grow significantly in the industry i.e., India, Thailand, Netherlands, Canada, and Indonesia on account of a rise in awareness to curb carbon emissions and to enhance the utilization of the fuels.
Further, Canadian Clean Fuels Standard (CFS) is anticipated to apply various norms for gaseous, liquid, and solid biofuels that are combusted for energy production in the transportation sector. The government of Canada has been concentrating on annual decreases by 30 Mt in GHG emissions by 2030 that contributes in the country’s efforts to accomplish an overall 30.5% reduction in GHG emissions by 2030.
In Asia Pacific, the market is expected to witness the highest volume-based CAGR of 6.4% in the forecast period as compared to other regions. Introduction and rise in the adoption of biofuel supporting policies and regulations in countries such as China, Indonesia, Australia, and India are expected to boost the demand for biofuels majorly in the transportation sector in form blending with conventional fossil fuels.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Biofuels Market include: Bunge Limited; Archer Daniels Midland Company; Valero Energy Corp.; Petrobras; Butamax; Renewable Energy Corp.; Wilmar International; Algenol; Pacific Ethanol Inc.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
- By Form
- Solid Biofuel
- Liquid Biofuel
- Gaseous Biofuel
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Biofuels market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Biofuels market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Biofuels markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Biofuels Market Study:
- Growth of Biofuels in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Biofuels and How to Navigate
- Key Product Innovations and Regulatory Climate
- Biofuels Consumption Analysis
- Biofuels Production Analysis
- Biofuels and Management