Global Biofuels Market is valued approximately USD 167.4 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.20% over the forecast period 2024-2032. Biofuels are renewable fuels derived from organic materials such as plants, algae, or waste biomass. They are considered an alternative to conventional fossil fuels like gasoline and diesel, offering potential benefits such as reduced greenhouse gas emissions and decreased dependence on finite fossil fuel resources. Biofuels can be categorized into three main types: First-generation biofuels, Second-generation biofuels, and Third-generation biofuels. Also, there was a growing focus on advancing second-generation and third-generation biofuels, which are produced from non-food biomass sources such as agricultural residues, algae, and dedicated energy crops. These advanced biofuels offer improved sustainability and reduced competition with food crops.
Moreover, the fluctuations in crude oil prices can impact the cost competitiveness of biofuels. When oil prices are high, biofuels become more economically viable, driving increased demand for renewable alternatives. Also, with increasing urbanization and population growth, there is a rising demand for transportation fuels. Biofuels offer a sustainable alternative to conventional gasoline and diesel, particularly in the transportation sector, where they can be used in existing infrastructure with minimal modifications. Additionally, continued research and development efforts, along with investments in biofuel production infrastructure, are driving innovation and expanding the availability of biofuels in the market. However, the requirement for high initial capital investment, and uncertain economic conditions globally are expected to hinder the market growth during the forecast period 2024-2032.
The key regions considered for the global Biofuels market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the biofuels market in 2023 owing to its rich feedstock supplies, robust infrastructure for biofuel production, and favorable government regulations promoting biofuel consumption. These factors place the region as a leader in the global biofuels market. Additionally, increasing investments in biofuel research and development, as well as government grants and subsidies for biofuel projects, are driving innovation and expansion in the biofuels industry. This financial support is helping to scale up production capacity and improve the viability of biofuel technologies. Moreover, Asia Pacific is expected to grow at the fastest rate during the projected period 2024-2032.
Major market player included in this report are:
- Air Liquide
- Archer Daniels Midland Company
- Bunge North America, Inc.
- Butamax Advanced Biofuels LLC
- Green Plains Inc.
- Petroleo Brasileiro S.A.
- Renewable Energy Group, Inc.
- Royal Dutch Shell plc
- Scandinavian Biogas Fuels International AB
- Wilmar International Limited
The detailed segments and sub-segment of the market are explained below:
By Fuel Type
- Ethanol
- Biodiesel
- Other Fuel Types
By Feedstock
- Palm Oil
- Jatropha
- Sugar Crop
- Coarse Grain
- Other Feedstock
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Biofuels Market Definition and Research Assumptions
- 1.1. Research Objective
- 1.2. Market Definition
- 1.3. Research Assumptions
- 1.3.1. Inclusion & Exclusion
- 1.3.2. Limitations
- 1.3.3. Supply Side Analysis
- 1.3.3.1. Availability
- 1.3.3.2. Infrastructure
- 1.3.3.3. Regulatory Environment
- 1.3.3.4. Market Competition
- 1.3.3.5. Economic Viability (Consumer's Perspective)
- 1.3.4. Demand Side Analysis
- 1.3.4.1. Regulatory frameworks
- 1.3.4.2. Technological Advancements
- 1.3.4.3. Environmental Considerations
- 1.3.4.4. Consumer Awareness & Acceptance
- 1.4. Estimation Methodology
- 1.5. Years Considered for the Study
- 1.6. Currency Conversion Rates
Chapter 2. Executive Summary
- 2.1. Global Biofuels Market Size & Forecast (2022- 2032)
- 2.2. Regional Summary
- 2.3. Segmental Summary
- 2.3.1. By Fuel Type
- 2.3.2. By Feedstock
- 2.4. Key Trends
- 2.5. Recession Impact
- 2.6. Analyst Recommendation & Conclusion
Chapter 3. Global Biofuels Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Challenges
- 3.3. Market Opportunities
Chapter 4. Global Biofuels Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Biofuels Market Size & Forecasts by Fuel Type 2022-2032
- 5.1. Ethanol
- 5.2. Biodiesel
- 5.3. Other Fuel Types
Chapter 6. Global Biofuels Market Size & Forecasts by Feedstock 2022-2032
- 6.1. Palm Oil
- 6.2. Jatropha
- 6.3. Sugar Crop
- 6.4. Coarse Grain
- 6.5. Other Feedstock
Chapter 7. Global Biofuels Market Size & Forecasts by Region 2022-2032
- 7.1. North America Biofuels Market
- 7.1.1. U.S. Biofuels Market
- 7.1.1.1. Fuel Type breakdown size & forecasts, 2022-2032
- 7.1.1.2. Feedstock breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Biofuels Market
- 7.2. Europe Biofuels Market
- 7.2.1. U.K. Biofuels Market
- 7.2.2. Germany Biofuels Market
- 7.2.3. France Biofuels Market
- 7.2.4. Spain Biofuels Market
- 7.2.5. Italy Biofuels Market
- 7.2.6. Rest of Europe Biofuels Market
- 7.3. Asia-Pacific Biofuels Market
- 7.3.1. China Biofuels Market
- 7.3.2. India Biofuels Market
- 7.3.3. Japan Biofuels Market
- 7.3.4. Australia Biofuels Market
- 7.3.5. South Korea Biofuels Market
- 7.3.6. Rest of Asia Pacific Biofuels Market
- 7.4. Latin America Biofuels Market
- 7.4.1. Brazil Biofuels Market
- 7.4.2. Mexico Biofuels Market
- 7.4.3. Rest of Latin America Biofuels Market
- 7.5. Middle East & Africa Biofuels Market
- 7.5.1. Saudi Arabia Biofuels Market
- 7.5.2. South Africa Biofuels Market
- 7.5.3. Rest of Middle East & Africa Biofuels Market
Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. Air Liquide
- 8.3.1.1. Key Information
- 8.3.1.2. Overview
- 8.3.1.3. Financial (Subject to Data Availability)
- 8.3.1.4. Product Summary
- 8.3.1.5. Market Strategies
- 8.3.2. Archer Daniels Midland Company
- 8.3.3. Bunge North America, Inc.
- 8.3.4. Butamax Advanced Biofuels LLC
- 8.3.5. Green Plains Inc.
- 8.3.6. Petroleo Brasileiro S.A.
- 8.3.7. Renewable Energy Group, Inc.
- 8.3.8. Royal Dutch Shell plc
- 8.3.9. Scandinavian Biogas Fuels International AB
- 8.3.10. Wilmar International Limited
Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes