Global Commodity Market (Biofuel stream)

The continued increase in global biofuel use relies on two key factors: the rising demand for transport fuel and the sustained support from public policies. Overall, biofuels are expected to remain important renewable alternatives to fossil fuels.

Liquid biofuels are fuels derived from organic materials such as plants or waste and can serve as an alternative to fossil fuels in transportation, power generation, and heat. These biofuels are produced using various techniques such as fermentation and transesterification. The most commonly used biofuels include ethanol and biodiesel. Ethanol is typically derived from crops such as corn or sugarcane with high sugar content, while biodiesel is often produced from crops, vegetable oils, and animal fats.

The global liquid biofuel market size was valued at $148.5b in 2023 and is projected to grow to $316.71b by 2032, exhibiting a CAGR of 8.86% during the forecast period.

Based on type, the market is segmented into ethanol and biodiesel. The ethanol segment is projected to lead the liquid biofuel industry. It has been discovered that ethanol can be utilized as a green alternative to fossil fuels and can be blended with gasoline to power vehicles without engine modifications. Therefore, ethanol can be used as a cleaner and more sustainable fuel source, reducing the environmental impact of transportation.

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