Biofuel is a fuel which is produced by using contemporary processes from biomass such as plants, and animal waste. Biodiesel and ethanol are the type of biofuels which are widely used in energy generation, transportation, charging electronics, cooking, lubrication, and cleaning oil spills and grease. It is considered as source of renewable energy like coal, petroleum, and natural gas. Biofuel is the cost effective option which is used as an alternative to other fuels.
Increase in government initiatives through programmers, policies, and regulations, for biofuel development are expected drive the global biofuel market growth. Furthermore, rise in usage of diesel engines and its benefits are expected to boost growth of biofuel market growth. Moreover, rise in crude oil prices will increase the demand for biofuel in the market during this forecast period. Additionally, extended use of bio-ethanol blends will have positive impact on biofuel market growth. Also, utilization of liquid biofuels in transportation sector will drive the market growth.
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However, uncertain feed stock prices and yield is expected to hamper the global biofuel market growth. Also, restricted utilization of biofuel production capacity will affect the global biofuel market, during this forecast period.
Global Biofuel Market is segmented into type such as Biodiesel, and Ethanol, by Feedstock such as Coarse Grain, Sugar Corp, Vegetable Oil, Molasses, Jatropha, and Others.
Also, Global Biofuel Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Abengoa Bioenergy, Archer Daniels Midland Company, Aceites Manuelita S.A, Archer Daniels Midland Company, Bajaj Hindusthan Ltd., Aventine Renewable Energy Holdings, Inc., Bangchak Petroleum Public Company Ltd., Beckons Industries Ltd., Biowanze, Bluefire Ethanol Fuels, Inc.,and Brasil Ecodiesel Ind Com Biocom Oleos S.A.
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- Coarse Grain
- Sugar Corp
- Vegetable Oil
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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