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Report
Global Biofuels Market Report and Forecast 2024-2032
Market Report I 2024-06-20 I 177 Pages I EMR Inc.
Global Biofuels Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the global biofuels market size reached a volume of 176.61 billion litre in 2023. Aided by the increasing preference for clean fuel and the rising awareness regarding the environmental impact of traditional fuels, the market is projected to further grow at a CAGR of 4.5% between 2024 and 2032 to reach a volume of 261.88 billion litre by 2032.
Biofuels, derived from organic materials such as plant and animal waste, serve as renewable alternatives to traditional fossil fuels. Common biofuels include ethanol, biodiesel, and biogas, which are used in transportation, electricity generation, and heating. The environmental benefits of biofuels, such as reduced greenhouse gas emissions and decreased dependency on fossil fuels, make them a crucial component in the global transition to sustainable energy.
One of the primary drivers of the biofuels market growth is the increasing concern over environmental sustainability. Governments worldwide are implementing stringent regulations to curb carbon emissions and promote renewable energy. Policies such as the Renewable Fuel Standard (RFS) in the United States and the Renewable Energy Directive (RED) in the European Union are compelling industries to adopt biofuels. These regulations mandate a certain percentage of biofuels in the energy mix, significantly boosting the demand for biofuels.
The volatility of crude oil prices has led many countries to seek alternative energy sources to ensure energy security. Biofuels offer a viable solution, providing a stable and renewable energy supply. The rising oil prices make biofuels more economically competitive, further driving their adoption across various industries while enhancing the biofuels market share.
Advancements in biofuel production technologies are making the production process more efficient and cost-effective. Innovations such as second-generation biofuels, which use non-food crops and waste materials, are reducing the competition between food and fuel production. Additionally, third-generation biofuels, derived from algae, hold significant promise due to their high yield and low land-use requirements while driving the biofuels market development.
North America is a leading market for biofuels, driven by supportive government policies and significant investments in biofuel production. The United States, in particular, is a major producer and consumer of biofuels, with ethanol being the most prominent. The Renewable Fuel Standard (RFS) mandates blending biofuels with gasoline, ensuring steady demand. Additionally, Canada is making strides in biofuel adoption, focusing on reducing carbon emissions and promoting renewable energy. The Asia Pacific region is witnessing rapid growth in the market, driven by increasing energy demand and government initiatives to reduce carbon emissions. Countries like China, India, and Indonesia are investing in biofuel production to enhance energy security and reduce environmental impact. The region's abundant agricultural resources provide ample feedstock for biofuel production, further supporting market growth.
Emerging markets, particularly in Asia Pacific and Latin America, are witnessing increasing demand for biofuels. Rapid industrialization, urbanization, and growing energy needs are driving the adoption of biofuels in these regions. Governments are implementing policies to promote biofuel production and consumption, further supporting market growth. The global push towards decarbonization is a major trend shaping the biofuels market outlook. Industries across various sectors are adopting biofuels to reduce their carbon footprint and meet sustainability targets. The transportation sector, in particular, is focusing on biofuels as a key component of its decarbonization strategy.
Market Segmentation
The market can be divided based on product, form, feedstock, application and region.
Market Breakup by Product
- Biodiesel
- Ethanol
- Wood Pellets
- Others
Market Breakup by Form
- Solid Biofuel
- Liquid Biofuel
- Gaseous Biofuel
Market Breakup by Feedstock
- Corn
- Sugarcane
- Vegetables Oils
- Others
Market Breakup by Application
- Transportation
- Aviation
- Energy Generation
- Heating
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global biofuels market. Some of the major players explored in the report by Expert Market Research are as follows:
- Archer Daniels Midland Company
- Shell Plc
- Wilmar International Ltd.
- Cargill, Incorporated
- Chevron Corporation
- BP Plc
- Green Plains Inc.
- Abengoa S.A.
- Gevo, Inc.
- POET, LLC
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Biofuels Market Analysis
8.1 Key Industry Highlights
8.2 Global Biofuels Historical Market (2018-2023)
8.3 Global Biofuels Market Forecast (2024-2032)
8.4 Global Biofuels Market by Product
8.4.1 Biodiesel
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Ethanol
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Wood Pellets
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Biofuels Market by Form
8.5.1 Solid Biofuel
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Liquid Biofuel
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Gaseous Biofuel
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Biofuels Market by Feedstock
8.6.1 Corn
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Sugarcane
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Vegetables Oils
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Biofuels Market by Application
8.7.1 Transportation
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Aviation
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Energy Generation
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Heating
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Others
8.8 Global Biofuels Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Biofuels Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Biofuels Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Biofuels Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Biofuels Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Biofuels Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code - 3826)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Importing Countries
15.2.1 By Value
15.2.2 By Volume
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Archer Daniels Midland Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Shell Plc
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Wilmar International Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Cargill, Incorporated
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Chevron Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 BP Plc
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Green Plains Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Abengoa S.A.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Gevo, Inc.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 POET, LLC
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Biofuels Market: Key Industry Highlights, 2018 and 2032
2. Global Biofuels Historical Market: Breakup by Product (Billion Litre), 2018-2023
3. Global Biofuels Market Forecast: Breakup by Product (Billion Litre), 2024-2032
4. Global Biofuels Historical Market: Breakup by Form (Billion Litre), 2018-2023
5. Global Biofuels Market Forecast: Breakup by Form (Billion Litre), 2024-2032
6. Global Biofuels Historical Market: Breakup by Feedstock (Billion Litre), 2018-2023
7. Global Biofuels Market Forecast: Breakup by Feedstock (Billion Litre), 2024-2032
8. Global Biofuels Historical Market: Breakup by Application (Billion Litre), 2018-2023
9. Global Biofuels Market Forecast: Breakup by Application (Billion Litre), 2024-2032
10. Global Biofuels Historical Market: Breakup by Region (Billion Litre), 2018-2023
11. Global Biofuels Market Forecast: Breakup by Region (Billion Litre), 2024-2032
12. North America Biofuels Historical Market: Breakup by Country (Billion Litre), 2018-2023
13. North America Biofuels Market Forecast: Breakup by Country (Billion Litre), 2024-2032
14. Europe Biofuels Historical Market: Breakup by Country (Billion Litre), 2018-2023
15. Europe Biofuels Market Forecast: Breakup by Country (Billion Litre), 2024-2032
16. Asia Pacific Biofuels Historical Market: Breakup by Country (Billion Litre), 2018-2023
17. Asia Pacific Biofuels Market Forecast: Breakup by Country (Billion Litre), 2024-2032
18. Latin America Biofuels Historical Market: Breakup by Country (Billion Litre), 2018-2023
19. Latin America Biofuels Market Forecast: Breakup by Country (Billion Litre), 2024-2032
20. Middle East and Africa Biofuels Historical Market: Breakup by Country (Billion Litre), 2018-2023
21. Middle East and Africa Biofuels Market Forecast: Breakup by Country (Billion Litre), 2024-2032
22. Major Exporting Countries by Value
23. Major Importing Countries by Value
24. Major Exporting Countries by Volume
25. Major Importing Countries by Volume
26. Global Biofuels Market Structure
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