The growth of the global biofuels market is majorly driven by the cleaner emission of biofuels than traditional fossil fuels. The biofuels market is increasingly used in the transportation sector as blended fuels to power automobiles and reduce the use of gasoline and diesel. The market is further driven by the requirement to meet climate change targets and the obligation to reduce CO2 emissions from transport sector operations. Recent strict legislations on global automotive sector have increased the use of biofuels as vehicle fuels in Europe and North American. However, the growth of this market can be restrained by the rise in price of raw materials and increased use of electric vehicles in the transport sector.
The demand for this kind of fuel has gone up dramatically, hence, Market Research Future an organization that possesses special expertise in providing market research reports decided to publish a report on this market. The report titled ‘Global Bio Fuels Market’ states that in the forthcoming forecast period of 2018-2023, the market will grow at an astonishing pace.
The automobile plays an important role in displacing fossil fuels and is a cleaner and renewable alternative. Also, the use of biofuels in fuel mix reduces toxic emissions from transport sector and helps achieve climate change targets. Furthermore, the biofuel blend has a very positive impact on improving the air quality and reduce particulate emissions. This in turn will improve health standards and can have positive impacts on the environment. The use of biofuel blend has been made mandatory in several countries as they also qualify for carbon credits.
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Industry Major Key Players:-
The key players of Global Bio Fuels Market are Archer Daniels Midland Company (U.S.), Aceites Manuelita S.A.( Colombia ), Abengoa Bioenergy, Inc.(Spain), INEOS Group AG (U.K.), Neste Corporation (Finland), Archer Daniels Midland Company (U.S.), Aceites Manuelita S.A.( Colombia ), Abengoa Bioenergy,Renewable Energy Group, Inc (U.S.), BlueFire Renewables (U.S.), Cosan S.A. Indústria E Comércio (Brasil), Infinita Renovables SA (Spain) and BioWanze SA (Belgium).
Scope of the Report:-
This study provides an overview of the global biofuels market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global biofuel market by fuel type, by feedstock type, by composition, by application and by regions.
- By Fuel Type
- Bio Diesel
- By Feedstock Type
- Biodiesel Feedstock
- Ethanol Feedstock
- By Composition
- Starch feedstock
- Sugar feedstock
- Lingnocellulosic feedstock
- Miscellaneous feedstock
- By Applications
- Power Generation
- By Region
- North America
- Asia Pacific
- Rest of the World
The research report distributed by Market Research Future on the topic ‘Bio Fuels Market’ consists of a special section that is concerned with providing a detailed segmental analysis for the market. Here is a glimpse of that part of the report.
By composition – Miscellaneous, starch feedstocks, lingnocellulosic and sugar feedstocks.
By fuel type – Ethanol and bio diesel.
By feedstock type – Ethanol feedstock and bio diesel feedstock.
By application – Power generation and transportation.
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Currently, North America is expected to maintain its high market for biofuels market. This is mainly due to the fact that stringent environmental laws are enforced to reduce vehicle emissions and promote the use of biofuels in U.S. and in Brazil. Similarly, Europe remains a very significant market since it comprises of many climate change targets that limit the use of fossil fuel powered cars. The Asia-Pacific region is expected to witness an upward trend in biofuel use because of growing popularity in countries such as China and India. Abundant sunshine, favorable climate and arable land availability makes the Asia, an attractive market for the production and use of biofuels.