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Biofuels Market Size Reach$231.2 Billion By 2027 | Ongoing Research for Commercialization of Second and Third-generation Biofuels will further Boost the Growth: Grand View Research, Inc.

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Biofuels Market Size Reach$231.2 Billion By 2027 | Ongoing Research for Commercialization of Second and Third-generation Biofuels will further Boost the Growth: Grand View Research, Inc.

November 11
05:58 2020
Biofuels Market Size Reach$231.2 Billion By 2027 | Ongoing Research for Commercialization of Second and Third-generation Biofuels will further Boost the Growth: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc the U.S. has been one of the leading countries in the development and utilization of biofuels on a global level. Bioethanol is one of the majorly produced and utilized biofuel in the country which is majorly made from corn grain and is abundantly available in U.S. Bioethanol is blended with gasoline and sold in variants of E10 and E85 in the U.S., which has majorly driven the adoption of biofuels in the country.

The global biofuels market size is expected to reach USD 231.2 billion by 2027, expanding at a revenue-based CAGR of 6.9%, according to a new report by Grand View Research, Inc. Rising environmental concerns and increase in various government policies by countries around the world to form regulations for the blending of biofuel has turned to be the key driver in broadening the market for biofuels.

U.S. biofuels market size

 

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Globally, increase in the demand for biofuel with addition to raising concerns for the energy security is likely to drive the market over the upcoming year. North America and European Union have formed a market by introducing new energy policies which stipulates the required rate to incorporate biofuels in petroleum products.

Biofuels Market Report Highlights

  • North America held the largest share in 2019 in both volume as well as the value terms owing to presence of large number of ethanol manufacturing plants in the region along with rising awareness to curb carbon emissions in the transportation sector

  • The liquid form segment emerged to be the largest segment in 2019, in terms of revenue, owing to blending mandates of ethanol with gasoline fuel set in various countries such as U.S., Brazil, and various European nations

  • Asia Pacific is expected to witness highest growth rate of 6.4%, in terms of volume, in the forecast period owing to presence of biofuel supporting policies and regulations present in countries such as China, India, and Indonesia

  • The solid form segment is expected to witness highest growth rate of 8.5%, in terms of revenue, in the forecast period owing to rise in adoption of biomass energy for electricity generation and for utilization of solid biofuels for space heating in residential and commercial building

  • The saseous form segment emerged to be the second largest segment in 2019, in terms of revenue, as gaseous biofuel provides a cleaner and renewable substitute for cooking gas and it is also utilized as transportation fuel.

Have Inquiry before buying about this report, our team of analyst will be glad to help!

Global biofuels market revenue share

 

Few of the market leaders such as Green Plains Inc. and Biodico, Inc. are vertically integrated. Hence providing the companies an advantage in the procurement of raw material and distribution; thus, helping it to achieve various economies of scale. Some market leaders including Gevo Inc. and Wilmar International are repeatedly strengthening their core capabilities in the fields of supply chain management, operational excellence, and project execution.

However, raw material utilized for producing of biofuels are majorly agricultural crops such as corn and sugarcane. Further, large scale development of biofuels from agricultural crops poses a threat to food security and can affect availability of food products manufactured from these agricultural crops. These factors are expected to hinder the growth of the market during the forecast period.

Access complete Biofuels Market Report By Grand View Research, Inc.

Grand View Research has segmented the global biofuels market on the basis of form and region:

Biofuels Form Outlook (Volume, Thousand TOE; Revenue, USD Billion, 2016 – 2027)

  • Solid

  • Liquid

  • Gaseous

Biofuels Regional Outlook (Volume, Thousand TOE; Revenue, USD Billion, 2016 – 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • Netherlands

    • Germany

    • France

  • Asia Pacific

    • China

    • Indonesia

    • India

    • Thailand

  • Central & South America

    • Brazil

  • Middle East & Africa

List of Key Companies of Biofuels Market

  • Bunge Limited

  • Archer Daniels Midland Company

  • Valero Energy Corp.

  • Petrobras

  • Butamax

  • Renewable Energy Corp.

  • Wilmar International

  • Algenol

  • Pacific Ethanol Inc.

 

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About Grand View Research

 

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/biofuels-market