Top And Emerging Biofuels Market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2019 to 2025.
Market Outline: Top and Emerging Biofuels Market
A biofuel is a fuel that is produced through contemporary biological processes, such as agriculture and anaerobic digestion, rather than a fuel produced by geological processes such as those involved in the formation of fossil fuels, such as coal and petroleum, from prehistoric biological matter. If the source bio matter can regrow quickly, the resulting fuel is said to be a form of renewable energy. Biofuels can be derived directly from plants (i.e. energy crops), or indirectly from agricultural, commercial, domestic, and/or industrial wastes. Renewable biofuels generally involve contemporary carbon fixation, such as those that occur in plants or microalgae through the process of photosynthesis. Other renewable biofuels are made through the use or conversion of biomass (referring to recently living organisms, most often referring to plants or plant-derived materials).
Market Dynamics: Top and Emerging Biofuels Market
The volatility in crude oil prices, lower greenhouse gas emissions from biofuels and extended use of bioethanol mixture are anticipated to boost the market growth. Also, favorable government support through programs, regulations and policies for the development of biofuel also contribute towards the growth of the industry. The major factors attributing towards the top and emerging biofuel market growth are the retrieval of these from biological processes and low-cost production process using any of oil-rich crops such as oil palm, sunflower, and soy. The increasing usage of diesel engines is projected to fuel the market growth owing to the benefits associated with them such as renewable energy source, unlike petroleum based diesel, and less amount of pollution. However, factors such as exhausting fossil fuels, growing global population, and stringent environmental policies are stoking the growth of the market.
Market Scope: Top and Emerging Biofuels Market
Global pain management devices market is segmented based on product type, and product form
Based on product type, market is segmented into the following:
Based on the product form, market is segmented into the following:
- Solid (Biocoal, Biochar)
- Fuel Pellets Liquid (Biodiesel and Bioethanol)
- Gaseous (Biogas, Biopropane, and Syngas)
Based on the distribution channel, the market is segmented into the following:
- Ambulatory Surgical Centers
Regional Analysis: Top and Emerging Biofuels Market
Geographically, top and emerging biofuels market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific top and emerging biofuels market has lucrative growth attributed to driving factors like availability of feedstock, the government’s law to support the approval of bio-based fuel alternatives and multiple uses of biofuels are likely to spur the biofuels market. The surging demand for bio-diesel in developing countries like India, China and Japan and growing focus on reliable, affordable and sustainable energy is the opportunities created in the region which in turn is expected to boost the biofuels market over the forecast period. Latin America is expected to be the future market for Biofuels market. Rising urban population, and rising middle-class consumer income witnesses new growth opportunities during the forecast period. Most of the focus of biofuels in Latin America and the Caribbean has been on countries like Brazil and Argentina, the two countries with the largest potential locally and globally. However, most Latin American countries have initiated to consider the production of biofuels for their own domestic markets, as well as for exports to the global market. These factors, in turn, are likely to accelerate the biofuels market in the region.
Competition Assessment: Top and Emerging Biofuels Market
Some of the players in the top and emerging biofuels market include:
- Aceites Manuelita S.A
- Abengoa Bioenergy
- Bajaj Hindustan Ltd.
- Archer Daniels Midland Company
- Beckons Industries Ltd.
- BlueFire Ethanol Fuels Inc.
- Imperium Renewables, Inc.
- Renewable Energy Group Inc.
- Bangchak Petroleum Public Company Ltd.
- Solazyme Inc.
- Cosan S.A. Industria E Comrcio
Notable Market Developments: Top and Emerging Biofuels Market
- In February 2016, Renewable Energy Group Inc. (Biofuel producer in U.S) has signed an agreement with Sanimax Energy, which is a U.S based company for acquiring its 20 million gallon nameplate capacity biodiesel refinery. In March 2016, Canada-based Company, Edmonton, announced its plans to produce a new kind of biodiesel, commercially, which would be capable of replacing diesel completely at a lower cost than existing renewable fuels.