Please Wait.....
Report
Biofuels - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 125 Pages I Mordor Intelligence
The Biofuels Market size is estimated at 1.89 Million barrels of oil equivalent per day in 2024, and is expected to reach 2.44 Million barrels of oil equivalent per day by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).
Key Highlights
-Over the medium term, the increasing demand for secure, sustainable, and clean energy coupled with government mandates for increasing blending in automotive fuels is expected to propel the demand for biofuels across the globe.
-On the other hand, the high cost of production of biofuels, even with all the benefits associated with them, is likely to restrain the growth of the market.
-Nevertheless, with the recent technological advancements, the production of biofuels has increased, which is going to act as an opportunity for the market's expansion.
-North America dominates the market, and it is likely to witness the highest CAGR during the forecast period. The growth is attributed to the rapid increase in production facilities coupled with the increase in demand for biofuels in the region.
Biofuels Market Trends
Ethanol Likely to Experience a Significant Growth
- Globally, the transportation sector is the biggest emitter of greenhouse gases due to the combustion of fossil fuels in its internal combustion engines. To limit the emission of greenhouse gases, countries worldwide have adopted norms to promote the use of renewable energy resources. Biofuels such as ethanol affirm themselves as a cleaner energy source for the transportation sector, which could lead to a developed biofuel market in the future.
- According to the Renewable Fuels Association (RFA), in 2022, the United States produced 15,4 billion gallons of fuel ethanol, making it the leading producer of biofuel in the world.
- Primary blending mandates that drive the global demand for biofuels are set in North America, India, Brazil, Europe, Indonesia, Malaysia, etc. For instance, in India, there is a mandate to begin 20% ethanol blending by 2025. In Indonesia, a commission of 35% biodiesel blending is expected to start in 2023, whereas in Brazil, the existing order for ethanol blending is 27%. Such measures highlight the increase in the use of biofuels across countries.
- Furthermore, in March 2022, Brazil's Ministry of Economy announced the withdrawal of import tariffs on ethanol, including other products, to alleviate inflationary pressures. This is expected to boost the ethanol blend in gasoline and drive the market.
- In 2022, SGP BioEnergy announced the development of the world's most extensive biofuel distribution and production hub in Panama, in association with the country's government, which is estimated to produce 180,000 barrels per day of biofuel. Similarly, in 2023, the US Department of Energy awarded USD 118 million for 17 projects to scale up ethanol and other biofuels to help America's transportation and manufacturing needs. Such trends are likely to ramp up the biofuel market.
- Therefore, owing to the above points, the ethanol segment is expected to experience significant growth in the biofuels market during the forecast period.
North America is Expected to Dominate the Market
- The North American region houses one of the biggest aviation markets, primarily fossil fuels, and a well-established transportation infrastructure. The North American region has been at the forefront of lowering emissions to limit the greenhouse effect.
- According to the U.S. Energy Information Administration, the total production volume of biodiesel production in the United States was 1.6 billion gallons by 2022
- In January 2022, the US Environmental Protection Agency announced a new initiative for streamlining the review of biofuels and chemicals that can significantly replace higher GHG-emitting fossil fuels, providing a significant push to the biofuels market. Similarly, the US Department of Energy announced an Alternative Fuel Infrastructure Tax Credit of 30% for the fueling equipment for natural gas, propane, liquefied hydrogen, electricity, E85, or diesel fuel blends containing a minimum of 20% biodiesel installed on or after December 2022. Such incentive measures would likely promote the biofuel market.
- Similarly, in Canada, the government aimed to increase carbon taxes by CAD 10 to CAD 50 per ton of emissions from April 2022, thereby pushing for wider adoption of biofuels that emit less GHG.
- Hence, owing to the above points, the North American region is likely to dominate the biofuels market due to government policies and production capacity.
Biofuels Industry Overview
The biofuels market is fragmented. Some of the major players include (in no particular order) Archer Daniels Midland Company, Abengoa Bioenergy SA, Renewable Energy Group Inc., Cargill Incorporated, and POET LLC., among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Biofuel Production Historic and Forecast, till 2028
4.3 Biofuel Consumption Historic and Forecast, till 2028
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.6.1 Drivers
4.6.1.1 Increasing Demand for Secure, Sustainable, and Clean Energy
4.6.2 Restraints
4.6.2.1 High Cost of Production of Biofuels
4.7 Supply Chain Analysis
4.8 Industry Attractiveness - Porter's Five Forces Analysis
4.8.1 Bargaining Power of Suppliers
4.8.2 Bargaining Power of Consumers
4.8.3 Threat of New Entrants
4.8.4 Threat of Substitute Products and Services
4.8.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Fuel Type
5.1.1 Ethanol
5.1.2 Biodiesel
5.1.3 Other Fuel Types
5.2 Feedstock
5.2.1 Palm Oil
5.2.2 Jatropha
5.2.3 Sugar Crop
5.2.4 Coarse Grain
5.2.5 Other Feedstock
5.3 Geography
5.3.1 North America
5.3.1.1 United States of America
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 Denmark
5.3.2.4 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Indonesia
5.3.3.4 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Chile
5.3.4.4 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 United Arab Emirates
5.3.5.2 Saudi Arabia
5.3.5.3 South Africa
5.3.5.4 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Abengoa Bioenergy SA
6.3.2 Cargill Incorporated
6.3.3 Shell PLC
6.3.4 Wilmar International Ltd.
6.3.5 Renewable Energy Group Inc.
6.3.6 Archer Daniels Midland Company
6.3.7 BP PLC
6.3.8 POET LLC
6.3.9 Neste Oyj
6.3.10 Verbio Vereinigte BioEnergie AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Technological Advancements in Production of Biofuels
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security