Biofuel is a hydrocarbon that has been derived from agricultural biomass, plant and animal waste or from metabolic by-products. Biofuel is mainly available in two types such as bioethenol and biodiesel, which are primarily used in automotive, marine and railway. Bioethanol is used as a replacement for petrol and biodiesel is used as a replacement for diesel. Use of biofuel can reduce carbon emission by 80%. Biofuel is basically extracted from the photosynthesis process and can therefore often be referred to as a source of solar energy.
Biofuel market has witnessed significant growth in recent years on account of rising environmental awareness and strong demand from automotive sector. Stringent government regulations resulted into growing demand for biofuel. This is anticipated to boost the demand for bioethanol. Biofuel market is classified based on different forms of biofuel such as liquid (biodiesel and bioethanol), solid (biocoal, fuel pellets, and biochar), and gaseous (syngas, biogas, and biopropane). Biodiesel was the largest product segment followed by bioethanol. Moreover, advancement in technology expected to propel the biofuel market over the forecast period.
Major regional segments analysed in this study include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, further bifurcation of region on the country level, which include U.S., Germany, UK, France, China, Japan and India. North America has witnessed strong biofuels demand over the recent past years on account of stringent government policies and environmental awareness. Asia Pacific is expected to experience significant growth in biofuels consumption.
This report provides detailed analysis and forecast of the biofuel market on a global and regional level. Additionally, the report covers Porter’s five forces model, which provides an insight into the intensity of competition in the market. The study also comprises market attractiveness analysis, wherein various end-users are benchmarked based on their market size, growth rate, and general attractiveness. The segments have been analysed and forecast based on current trends at the global and regional level.
This report includes a detailed analysis of each key participants operating in the biofuel market in terms of company information, financial overview and recent developments in the industry. Prominent industry participants include Green Plains Inc., Raizen Energia Participacoes S.A, Australian Renewable Fuels Limited, Renewable Energy Group, BlueFire Renewables, Aventine Renewable Energy Holdings, Inc., Copersucar S.A, DSM, Western Dubuque Biodiesel Llc and Solazyme Inc.
Extracted from The Bull.