Product Code: GVR-4-68038-729-2
Biofuels Market Growth & Trends:
The global biofuels market size is expected to reach USD 207.87 billion by 2030, registering to grow at a CAGR of 11.3% from 2024 to 2030 according to a new report by Grand View Research. The rising need for sustainable energy resources, coupled with favorable government regulations to reduce dependency on fossil fuels is expected to be a major driver for market growth. Biofuels are eco-friendly, and renewable and have proved to be a viable option in the European Union, the Americas, and Asia Pacific for power generation. The various advantages obtained by employing biofuel include sustainability and reduction in carbon footprint. The outbreak of the COVID-19 pandemic across the globe in 2020 resulted in a slowdown in the growth of this market.
Delayed utility-scale projects due to lockdown measures, social distancing guidelines, and financial challenges negatively affected the demand for biofuels in the electricity generation segment. The COVID-19 pandemic also impacted the product demand in heat generation applications. Sluggish industrial activities have reduced the demand for heat consumption, thereby negatively affecting the demand for biofuels. The others segment in the product category, which includes propanol, butanol, methanol, and biogas, led the industry in 2022 and accounted for the largest revenue share followed by ethanol as the second-largest segment in the biofuels market.
The major reason for the dominance of the others segment is the shift in focus of countries toward the use of renewable sources, particularly for electricity generation, which significantly boosted the global demand for biogas. In addition, the increasing requirement to reduce dependency on fossil fuels is creating lucrative opportunities for the utilization of biogas as fuel in vehicles. The industry is concentrated where major companies, such as Air Liquide, Shell, and, Archer Daniels Midland Company, accounted for the majority of revenue share in 2022. These companies are equipped with facilities, which are capable of manufacturing and transportation of biofuels, such as ethanol, biodiesel, and others.
Biofuels Market Report Highlights:
- Transportation accounted for the largest revenue share of 71.0% in 2023. Biofuels are well suitable for transportation because they are relatively energy-dense (unlike electricity and batteries) and easy to distribute using existing infrastructure with only minor modifications (unlike hydrogen)
- The North America region accounted for 33.0% revenue share in 2023. The region has been one of the front runners in implementing favorable policies and supports mechanisms for the growth of renewable energy and energy efficiency projects across the globe
- Various strategic initiatives were recorded over the past few years to boost the growth of the market
- For instance, in August 2022, Canada pledged to reduce carbon emissions by 40-45% below 2005 levels by 2030 and to achieve net-zero emissions by 2050.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market Segmentation & Scope
- 1.2 Information Procurement
- 1.2.1 Purchased Database
- 1.2.2 GVR's Internal Database
- 1.2.3 Secondary Sources
- 1.2.4 Third Party Perspective
- 1.2.5 Primary Research
- 1.3 Information Analysis
- 1.3.1 Data Analysis Models
- 1.4 Market Formulation and Data Visualization
- 1.5 Data Validation and Publishing
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends & Scope
- 3.1 Biofuels Market - Industry Outlook
- 3.1.1 Penetration & Growth Prospect Mapping
- 3.2 Industry Value Chain Analysis
- 3.3 Technology Outlook
- 3.4 Regulatory Framework
- 3.4.1 Policies and Plans by Major Countries
- 3.4.2 Standards & Compliances
- 3.4.3 Safety
- 3.5 Market Dynamics
- 3.5.1 Market Driver Analysis
- 3.5.1.1 Favorable Regulatory Policies And Tax Incentives
- 3.5.1.2 Increasing Demand For Clean Fuel
- 3.5.2 Market Restraint Analysis
- 3.5.2.1 Environmental Impact Of Biofuels, Technological Challenges, And Performance Issues In Certain Applications
- 3.5.3 Market opportunities
- 3.5.3.1 Technological advancements
- 3.6 Industry Analysis: Biofuels Market
- 3.6.1 Industry Analysis - Porter's
- 3.6.2 PESTEL analysis
- 3.7 Impact of COVID-19 on Biofuels Market
- 3.7.1 Challenges
- 3.7.2 Steps Taken
- 3.7.3 Eastern European Geopolitical Implications Overview
Chapter 4 Biofuels Market: Form Estimates & Trend Analysis
- 4.1 Definition & Scope
- 4.2 Biofuel market: Form Movement Analysis, 2023 & 2030
- 4.3 Market size & forecasts and trend analysis, 2018 to 2030 for the following:
- 4.3.1 Solid Biofuel
- 4.3.1.1 Biofuels market estimates and forecasts, By Solid biofuel, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
- 4.3.2 Liquid Biofuel
- 4.3.2.1 Biofuels market estimates and forecasts, By Liquid biofuel, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
- 4.3.3 Gaseous Biofuel
- 4.3.3.1 Biofuels market estimates and forecasts, By Gaseous biofuel, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
Chapter 5 Biofuels Market: Product Estimates & Trend Analysis
- 5.1 Definition & Scope
- 5.2 Biofuels market: Product Movement Analysis, 2023 & 2030
- 5.3 Market size & forecasts and trend analysis, 2018 to 2030 for the following:
- 5.3.1 Biodiesel
- 5.3.1.1 Biofuels market estimates and forecasts, By Biodiesel, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
- 5.3.2 Ethanol
- 5.3.2.1 Biofuels market estimates and forecasts, By Ethanol, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
- 5.3.3 Wood Pellets
- 5.3.3.1 Biofuels market estimates and forecasts, By Wood Pellets, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
- 5.3.4 Others
- 5.3.4.1 Biofuels market estimates and forecasts, By Other product, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
Chapter 6 Biofuels Market: Feedstock Estimates & Trend Analysis
- 6.1 Definition & Scope
- 6.2 Biofuels Market: Feedstock Movement Analysis, 2023 & 2030
- 6.3 Market size & forecasts and trend analysis, 2018 to 2030 for the following:
- 6.3.1 Corn
- 6.3.1.1 Biofuels market estimates and forecasts, by Corn, 2019 - 2030 (USD Billion) (Thousands Tons oil equivalent)
- 6.3.2 Sugarcane
- 6.3.2.1 Biofuels market estimates and forecasts, by Sugarcane, 2019 - 2030 (USD Billion) (Thousands Tons oil equivalent)
- 6.3.3 Vegetable Oils
- 6.3.3.1 Biofuels market estimates and forecasts, by Vegetable oils, 2019 - 2030 (USD Billion) (Thousands Tons oil equivalent)
- 6.3.4 Others
- 6.3.4.1 Biofuels market estimates and forecasts, by others, 2019 - 2030 (USD Billion) (Thousands Tons oil equivalent)
Chapter 7 Biofuels Market: Application Estimates & Trend Analysis
- 7.1 Definition & Scope
- 7.2 Biofuel market: Application Movement Analysis, 2023 & 2030
- 7.3 Market size & forecasts and trend analysis, 2018 to 2030 for the following:
- 7.3.1 Transportation
- 7.3.1.1 Biofuels market estimates and forecasts, By Transportation, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
- 7.3.2 Aviation
- 7.3.2.1 Biofuels market estimates and forecasts, By Aviation, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
- 7.3.3 Energy Generation
- 7.3.3.1 Biofuels market estimates and forecasts, By Energy generation, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
- 7.3.4 Heating
- 7.3.4.1 Biofuels market estimates and forecasts, By Heating, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
- 7.3.5 Others
- 7.3.5.1 Biofuels market estimates and forecasts, By Others, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
Chapter 8 Biofuel Market: Regional Estimates & Trend Analysis
- 8.1 Definition & Scope
- 8.2 Regional Market Analysis & Share, 2023 & 2030
- 8.3 North America
- 8.3.1 North America Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.3.2 North america biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue USD Million, Volume in Thousand toe)
- 8.3.3 North America Biofuels Market Analysis, by Feedstock, 2019 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.3.4 North america Biofuels Market Analysis, by application, 2019 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.4 U.S.
- 8.4.1 U.S. Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.4.2 U.S. biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue USD Million, Volume in thousand toe)
- 8.4.3 U.S. Biofuels Market Analysis, by Feedstock, 2019 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.4.4 U.S. Biofuels Market Analysis, by application, 2019 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.5 Canada
- 8.5.1 Canada Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.5.1 Canada biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.5.2 Canada Biofuels Market Analysis, by Feedstock, 2019 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.5.3 Canada Biofuels Market Analysis, by application, 2019 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.6 Europe
- 8.6.1 Europe Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.6.2 Europe biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue USD Million, Volume in thousand toe)
- 8.6.3 Europe Biofuels Market Analysis, by Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.6.4 Europe Biofuels Market Analysis, by application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.7 The Netherlands
- 8.7.1 The Netherlands Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.7.2 The Netherlands biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.7.3 The Netherlands Biofuels Market Analysis, by Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.7.4 The Netherlands Biofuels Market Analysis, by application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.8 UK
- 8.8.1 UK Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.8.2 UK biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue USD Million, Volume in thousand toe)
- 8.8.3 UK Biofuels Market Analysis, by Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.8.4 UK Biofuels Market Analysis, by application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.9 Germany
- 8.9.1 Germany Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.9.2 Germany biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.9.3 Germany Biofuels Market Analysis, by Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.9.4 Germany Biofuels Market Analysis, by application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.10 France
- 8.10.1 France Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.10.2 France biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.10.3 France Biofuels Market Analysis, by Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.10.4 France Biofuels Market Analysis, by application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.11 Asia Pacific
- 8.11.1 Asia pacific Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion) (Thousand tons oil equivalent)
- 8.11.2 Asia pacific biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue USD Million, Volume in Thousand oil equivalent)
- 8.11.3 Asia pacific Biofuels MARKET, BY Feedstock, 2018 - 2030 (Revenue in USD Million) (Volume in Thousand oil equivalent)
- 8.11.4 Asia Pacific Biofuels MARKET, BY application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.12 China
- 8.12.1 China Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.12.2 China biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.12.3 China Biofuels MARKET, BY Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.12.4 China Biofuels MARKET, BY application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.13 Indonesia
- 8.13.1 Indonesia Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.13.2 Indonesia biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue USD Million, Volume in Thousand oil equivalent)
- 8.13.3 Indonesia Biofuels MARKET, BY Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.13.4 Indonesia Biofuels MARKET, BY application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.14 Thailand
- 8.14.1 Thailand Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.14.2 Thailand biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.14.3 Thailand Biofuels MARKET, BY Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.14.4 Thailand Biofuels MARKET, BY application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.15 India
- 8.15.1 India Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.15.2 India biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.15.3 India Biofuels MARKET, BY Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.15.4 India Biofuels MARKET, BY application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.16 Central & South America
- 8.16.1 Central & South America Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion) (Thousand Oil equivalent)
- 8.16.2 Central & South America biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue USD Million, Volume in Thousand oil equivalent)
- 8.16.3 Central & South America Biofuels MARKET, BY Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.16.4 Central & South America Biofuels MARKET, BY application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.17 Brazil
- 8.17.1 Brazil Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.17.2 Brazil biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.17.3 Brazil Biofuels MARKET, BY Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.17.4 Brazil Biofuels MARKET, BY application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand oil equivalent)
- 8.18 Middle East & Africa
- 8.18.1 Middle East & Africa Biofuels Market estimates and forecasts, by form, 2018 - 2030 (USD Billion)
- 8.18.2 Middle East & Africa biofuels market estimates and forecasts, by Product, 2018 - 2030 (Revenue USD Million, Volume in thousand toe)
- 8.18.3 Middle East & Africa Biofuels Market Analysis, by Feedstock, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
- 8.18.4 Middle East & Africa Biofuels Market Analysis, by application, 2018 - 2030 (Revenue in USD Million, Volume in Thousand TOE)
Chapter 9 Competitive Landscape
- 9.1 Key Global Players & Recent Developments & Their Impact on the Industry
- 9.1.1 Major Deals & Strategic Alliances
- 9.2 Vendor Landscape
- 9.2.1 List of Key Distributors and Channel Partners
- 9.3 Key Company Market Position Analysis, 2023
Chapter 10 Company Profiles
- 10.1 Archer Daniels Midland Company
- 10.1.1 Company Overview
- 10.1.2 Product benchmarking
- 10.1.3 Financial Performance
- 10.1.4 Strategic Initiatives
- 10.2 Green Plains Inc.
- 10.2.1 Company Overview
- 10.2.2 Financial Performance
- 10.2.3 Product benchmarking
- 10.2.4 Strategic Initiatives
- 10.3 Petrobras
- 10.3.1 Company Overview
- 10.3.2 Financial Performance
- 10.3.3 Product Benchmarking
- 10.3.4 Strategic Initiatives
- 10.4 Valero Energy Corporation
- 10.4.1 Company Overview
- 10.4.2 Product benchmarking
- 10.4.3 Financial Performance
- 10.5 Alto Ingredients, Inc.
- 10.5.1 Company Overview
- 10.5.2 Financial Performance
- 10.5.3 Product benchmarking
- 10.5.4 Strategic Initiatives
- 10.6 Gevo
- 10.6.1 Company Overview
- 10.6.2 Financial Performance
- 10.6.3 Product Benchmarking
- 10.6.4 Strategic Initiatives
- 10.7 Butamax Advanced Biofuels LLC
- 10.7.1 Company Overview
- 10.7.2 Product Benchmarking
- 10.8 Wilmar International Ltd.
- 10.8.1 Company Overview
- 10.8.2 Financial Performance
- 10.8.3 Product benchmarking
- 10.8.4 Strategic Initiatives
- 10.9 Renewable Energy Group, Inc.
- 10.9.1 Company Overview
- 10.9.2 Product benchmarking
- 10.9.3 Financial Performance
- 10.9.4 Strategic initiative
- 10.10 Bunge North America, Inc.
- 10.10.1 Company Overview
- 10.10.2 Financial Performance
- 10.10.3 Product benchmarking
- 10.10.4 Strategic Initiatives
- 10.11 Royal Dutch Shell Plc
- 10.11.1 Company Overview
- 10.11.2 Financial Performance
- 10.11.3 Product Benchmarking
- 10.11.4 Strategic Initiatives
- 10.12 CropEnergies AG
- 10.12.1 Company Overview
- 10.12.2 Product Benchmarking
- 10.12.3 Financial Performance
- 10.12.4 Strategic Initiatives
- 10.13 Air Liquide
- 10.13.1 Company Overview
- 10.13.2 Financial Performance
- 10.13.3 Product benchmarking
- 10.13.4 Strategic Initiatives
- 10.14 Scandinavian Biogas Fuels International AB
- 10.14.1 Company Overview
- 10.14.2 Financial Performance
- 10.14.3 Product benchmarking
- 10.14.4 Strategic Initiatives
- 10.15 Abengoa
- 10.15.1 Company Overview
- 10.15.2 Product benchmarking