Biofuels Market by Type (Biodiesel, Biogas, Ethanol), Feedstock (Coarse Grain, Jetropha, Lard & Choice White Grease), End-Use - Global Forecast 2024-2030

Biofuels Market by Type (Biodiesel, Biogas, Ethanol), Feedstock (Coarse Grain, Jetropha, Lard & Choice White Grease), End-Use - Global Forecast 2024-2030

The Biofuels Market size was estimated at USD 166.66 billion in 2023 and expected to reach USD 175.87 billion in 2024, at a CAGR 5.61% to reach USD 244.35 billion by 2030.

Biofuels refers to nontoxic and biodegradable liquid fuel produced from renewable sources such as plant, algal, or animal biomass and is used as an alternative to conventional fossil fuels. Biofuel, including bioalcohols, biodiesel, vegetable oil, bioethers, and biogas, has been utilized for heating, power generation, and transportation purposes. They facilitate high engine performance and are associated with lower carbon emissions. The pressing need for renewable sources of energy and growing concerns about the sustainability of using fossil fuels have led to a surge in the adoption of biofuels. Additionally, the government's focus on promoting the adoption of clean energy is rapidly expanding, and many of these initiatives involve investments in biofuels. Governments across the world are also offering subsidies, tax benefits, and incentives to producers of biofuel and clean energy sources to promote their sustainability goals. Performance concerns and the presence of counterfeit or fake biofuels raise concerns about the reliability of biofuel products. Due to the complexity of the biofuel biomass and issues related to the transport of biofuels to refineries, the production process of biofuels is cumbersome. To overcome such challenges, major players are rapidly investing in advanced technology that can tackle issues related to the manufacture of biofuels and are experimenting with novel and innovative sources of biofuels by increasing investment in R&D.

Regional Insights

In the Americas investments to improve adoption of biofuels is rapidly expanding with the rising government initiatives. Governments in the USA and Canada also offer subsidies to manufacturers of common biofuel sources. The US Department of Energy's Bioenergy Technologies Office (BETO) has invested in research to improve the efficiency of biofuels production. Rising awareness to reduce reliance on oil supplies led to the adoption of biofuels in countries such as Brazil, Canada, and the USA. The European nations aim to increase utilization of biofuels to cut down carbon emissions associated with the transportation industry. Effort to introduce sustainable aviation and space exploration has led to a surge in demand for biofuels in the European industries. China is rapidly emerging as a dominant player in the global biofuels market, driven by its strong commitment towards clean energy sources and reducing carbon emissions. In addition, China and Japan have filed several patents related to advanced technologies for improving biofuel production efficiency.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Biofuels Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Growing need for renewable sources of energy
• Government incentives and initiatives to propel the adoption of clean energy
• Utilization of biofuels for heating, power generation, and transportation

Market Restraints

• Performance concerns and the presence of counterfeit biofuels

Market Opportunities

• Development of novel and innovative biofuels
• Application of biofuels in sustainable and smart cities

Market Challenges

• Production process challenges and lack of standardization

Market Segmentation Analysis

• Type: Advancements in the technologies used to produce efficient and cost-effective biodiesel
• Feedstock: Rising utilization of ethanol as feedstock in emerging economies
• End-use: Rising sustainability concerts driving adoption of biofuels in power generation

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Biofuels Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Biofuels Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Origin Materials and Proman Partner to Produce Low-Carbon Biofuels

Origin Materials, Inc. and Proman have formed a strategic partnership to explore low-carbon biofuels production and global distribution. Origin Materials is a major player in carbon-negative materials, aiming to drive the world's transition to sustainable materials. On the other hand, Proman is a global leader in producing natural gas-derived products and ranks among the largest methanol producers worldwide. The partnership between Origin and Proman is expected to capitalize on its advanced technology platform and extensive expertise in low-carbon biofuel production, leveraging their combined capabilities to make significant strides in developing and distributing environmentally friendly fuels.

Mitsubishi Corporation invests in Swedish Biofuels

Mitsubishi Corporation has recently invested in Swedish Biofuels AB to produce and distribute clean, renewable fuels. Swedish Biofuels is expected to leverage its advanced alcohol-to-jet (ATJ) technology to create fully formulated sustainable aviation fuel (FFSAF) through this collaboration. This investment demonstrates the commitment of Swedish Biofuels and Mitsubishi Corporation to developing and adopting sustainable and environmentally friendly fuel solutions.

KBR Launches Sustainable Aviation Fuel Technology in Alliance with Swedish Biofuels

KBR, Inc. has expanded its decarbonization and energy transition portfolio to include the aviation sector by introducing Sustainable Aviation Fuel (SAF) technology. This innovative SAF solution is developed with Swedish Biofuels AB, a renowned technology developer and biofuels research pioneer. The technology can process ethanol and utilize captured carbon to produce SAF, resulting in cleaner and greener outcomes. By leveraging this SAF technology, KBR aims to contribute to reducing carbon emissions in the aviation industry, promoting a more sustainable future.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Biofuels Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Biofuels Market, highlighting leading vendors and their innovative profiles. These include Abengoa S.A., Air Liquide S.A., Alto Ingredients, Inc., Archer-Daniels-Midland Company, Bangchak Corporation Public Company Limited, Cargill, Incorporated, DuPont de Nemours, Inc., Enerkem Inc., Gevo, Inc., Green Plains Inc., Indian Oil Corporation Limited, Koninklijke DSM N.V., Münzer Bioindustrie GmbH, POET, LLC, Praj Industries Limited, Renewable Energy Group, Inc., Scandinavian Biogas Fuels International AB, Shell PLC, Shree Renuka Sugars Ltd., Sunoil Biodiesel Emmen, TotalEnergies SE, Valero Energy Corporation, and VERBIO Vereinigte BioEnergie AG.

Market Segmentation & Coverage

This research report categorizes the Biofuels Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Type
• Biodiesel
• Biogas
• Ethanol
• Feedstock
• Coarse Grain
• Jetropha
• Lard & Choice White Grease
• Molasses
• Poultry
• Sugar Crop
• Tallow
• Vegetable Oil
• End-Use
• Aviation
• Manufacturing
• Power Generation
• Transportation

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year