Second Generation Biofuels Market By Type (Cellulosic Ethanol, Biodiesel, Bio Butanol, Others), By Feedstock (Simple Lignocellulose, Complex Lignocellulose, Syngas, Algae, Others), By Process (Biochemical Process, Thermochemical Process), By Application (Transportation, Power Generation, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The Second generation biofuels Market was valued at $8.2 billion in 2022 and is estimated to reach $87.5 billion by 2032, exhibiting a CAGR of 26.8% from 2023 to 2032.
Second generation biofuels are also known as advanced biofuels that are produced from residual and waste products such as industry and households. Large quantities of used frying oil and slaughterhouse waste are also used in producing them. In addition, they are also produced from non-food crops including agricultural residue, wood chips, and wheat straw from wheat production. It is derived from lignocellulosic crops. This generation technology allows the lignin and cellulose of plants to be separated so that cellulose is fermented into alcohol. These biofuels are manufactured from different types of biomasses as it defines any source of organic carbon in second generation biofuel industry.
Second-generation biofuels solve the limitations of first-generation biofuels such as, it supply a larger proportion of biofuel sustainably and affordably with greater environmental benefits. The presence of various advantages such as the majority of the cheap and abundant nonfood materials include by-products such as cereal straw, sugar bagasse, forest residues; waste such as organic components from municipal solid wastes; and dedicated feedstocks such as vegetative grasses, and short-rotation forests. The presence of the raw material lignocellulose is the most abundant biomass on earth, consisting of about 70% sugars, which depend on various processes before they are transformed into bioethanol or other biofuels.
It provides a sustainable energy source that does not require any land to be converted from food production or harm the environment. It also assist in solving the difficulties caused by contemporary society waste and offer jobs for the underprivileged where none existed previously. Far from causing food shortages, proper biofuel production and distribution provide the finest chance for emerging and underdeveloped countries to achieve long-term economic growth. Biofuels provide the potential of genuine market competition and a drop in oil prices. According to the Wall Street Journal, if it were not for biofuels, crude oil would be 15% higher and gasoline would be up to 25% more expensive. A healthy supply of alternative energy resources will help to combat gasoline price hikes. The abovementioned trends and presence of demand for various purposes drive the growth of the second-generation biofuels market.
The growth of the second generation biofuel market is hampered due to its low performance in cold temperatures, efficiency of the cellulose conversion, and the risk of spreading sickness from contaminated feedstocks. The second generation biofuels market scope is segmented into feedstock, type, process, application, and region.
On the basis of feedstock, the global second generation biofuels market is categorized into simple lignocellulose, complex lignocellulose, syngas, algae, and others. By type, the global second generation biofuels market is classified into cellulosic ethanol, biodiesel, bio butanol, and others. On the basis of process, the global second generation biofuels market is segregated into biochemical process and thermochemical process. By application, the global second generation biofuels market is divided into transportation, power generation, and others.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest share of the market in 2020, with Asia-Pacific being the fastest growing region. The major companies profiled in this report include Algenol Biofuels, Clariant AG, International Flavors & Fragrances Inc, Fiberight LLC., GranBio, Ineos Group, Orsted A/S, POET-DSM Advanced Biofuels LLC, Reliance Industries, and Zea2, LLC.
In addition to the abovementioned companies, there are Algae. Tec, Chemrec Inc., Gevo, Inc., and Muradel competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the second generation biofuels market forecast period.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the second generation biofuels market analysis from 2022 to 2032 to identify the prevailing second generation biofuels market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the second generation biofuels market size segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global second generation biofuels market trends, key players, market segments, application areas, and second generation biofuels market growth strategies.
Key Market SegmentsBy TypeCellulosic Ethanol
Biodiesel
Bio Butanol
Others
By FeedstockSimple Lignocellulose
Complex Lignocellulose
Syngas
Algae
Others
By ProcessBiochemical Process
Thermochemical Process
By ApplicationTransportation
Power Generation
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
Thailand
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Israel
Rest of LAMEA
Key Market PlayersINEOS Group
Algenol Biotech LLC
Fiberight
International Flavors & Fragrances Inc.
Reliance Industries Limited
Clariant AG.
Orsted A/S
POET-DSM Advanced Biofuels LLC
Zea2
GranBio Investimentos S.A.
Please Note: It will take 7-10 business days to complete the report upon order confirmation.