Dublin, April 12, 2024 (GLOBE NEWSWIRE) -- The "Biofuel Industry Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
Overall revenue for the Biofuel Market surpassed US$120 billion in 2023, with strong revenue growth forecast through to 2033.
The increased demand for sustainable energy sources has been a significant driver of growth in the biofuel industry. The world's population continues to grow, and the effects of climate change become more apparent, leading to an urgent need to transition from traditional fossil fuels to renewable energy sources. Biofuels are considered one of the most promising alternatives to traditional fossil fuels, as they offer several benefits.
One of the primary benefits of biofuels is reduced greenhouse gas emissions. Biofuels are made from renewable resources such as crops and plant waste, which absorb carbon dioxide as they grow. As a result, the use of biofuels can help reduce greenhouse gas emissions and mitigate the impacts of climate change. This is particularly important given the growing concerns around climate change and the need to reduce greenhouse gas emissions to meet global targets.
Infrastructure limitations are one of the significant challenges for the biofuel industry. The production of biofuels requires specialized equipment and facilities, and these may not be widely available in all areas. This lack of infrastructure can limit the production and distribution of biofuels, hindering the growth of the industry.
One of the primary infrastructure limitations in the biofuel industry is the lack of biofuel refineries and storage facilities. Unlike fossil fuels, which can be refined and stored in large quantities, biofuels are often produced on a smaller scale, and their storage and transportation may require specialized infrastructure. This can lead to higher costs for biofuel producers and limit the availability of biofuels in certain regions.
Key Market Dynamics
Market Driving Factors
- Strengthening Biofuel Production Infrastructure
- Rising Electric Vehicle Industry to Drive the Market
- Fluctuating Fossil Fuel Prices to Spur the Market
Market Restraining Factors
- Lack of Adequate Infrastructure Can Limit the Growth of the Industry
- Land-Use Conflicts Continue to Be a Major Issue for the Industry
Market Opportunities
- Growing Partnerships and Collaborations in Biofuel Industry
- Growing Demand for Sustainable Energy Sources
- National Policies on Biofuel to Open New Avenues for the Market
Key Questions Answered in the Report
- How is the biofuel market evolving?
- What is driving and restraining the biofuel market?
- How will each biofuel submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
- How will the market shares for each biofuel submarket develops from 2023 to 2034?
- What will be the main driver for the overall market from 2024 to 2034?
- Will leading biofuel markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
- Who are the leading players and what are their prospects over the forecast period?
- What are the biofuel projects for these leading companies?
- How will the industry evolve during the period between 2024 and 2034? What are the implications of biofuel projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the biofuel market?
- Where is the biofuel market heading and how can you ensure you are at the forefront of the market?
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints, and challenges), porters five forces analysis, PEST analysis, and recent developments.
Segments Covered in the Report (Market Size in Revenue)
Type Outlook
- Biodiesel
- Ethanol
- Other Types
End-use Outlook
- Transportation
- Electricity Generation
- Heating Buildings
- Other End-Uses
Generation Outlook
- First-generation Biofuels
- Second-generation Biofuels
- Third-generation Biofuels
- Fourth-generation Biofuels
- Fifth-generation Biofuels
Source Outlook
- Maize
- Vegetable Oils
- Sugar Beet
- Wheat
- Sugar Cane
- Other Sources
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 15 leading national markets.
The report also includes profiles and for some of the leading companies in the Biofuel Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- Abengoa
- ADM
- Air Liquide
- Alto Ingredients, Inc. (Pacific Ethanol)
- Bunge Limited
- Butamax Advanced Biofuels
- Cargill
- Chevron Renewable Energy Group
- Cosan S.A.
- Crop Energies AG
- FutureFuel Corporation
- Gevo, Inc.
- Green Plains
- Neste
- Petrobras
- POET
- Royal Dutch Shell PLC
- Valero Marketing and Supply Company
- Verbio SE
- Wilmar International Limited
In summary, the report provides you with the following:
- Revenue and volume forecasts to 2034 for Biofuel Market, with forecasts for generation, source, end-use, type, and each forecast at a global, and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue and volume forecasts to 2034 for five regional and 15 key national markets - See forecasts for the Biofuel Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Also, market size estimation and forecast is provided for US, Canada, Brazil, Spain, Germany, UK, China, India, Indonesia, and South Africa among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 20 of the major companies involved in the Biofuel Market.
For more information about this report visit https://www.researchandmarkets.com/r/fsjr7j
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