Europe Advanced Biofuels Market Research Report Forecast to 2030
The Europe advanced biofuels market is expected to grow at a CAGR of 27.9% over the forecast duration of 2023-2030. The Europe advanced biofuels market was valued at USD 8,850.0 million in 2022 and is expected to reach USD 62,369.2 million by 2030. Advanced biofuels, also known as second-generation biofuels, are a category of renewable fuels that are derived from non-food biomass sources. Unlike first-generation biofuels, which are primarily produced from food crops such as corn or sugarcane, advanced biofuels are made from lignocellulosic biomass, which includes agricultural residues, forest residues, dedicated energy crops, and algae.
The Europe advanced biofuels market is expected to be propelled by growing investments in advanced biofuel. This is driven by several factors, including renewable energy targets set by the European Union, supportive policies, and financial incentives. Various European countries have implemented their own policies, such as blending mandates and financial incentives, to support the production and use of advanced biofuels. Besides this, there are several other factors influencing the growth of Europe advanced biofuel market including research and innovation efforts, stringent sustainability requirements, market demand for low-carbon fuels, collaborations among stakeholders, and technological advancements.
Stringent sustainability requirements are a significant driving force behind the growth of the advanced biofuel market in Europe. These requirements aim to ensure that biofuels used in Europe meet specific environmental and social criteria, reducing greenhouse gas emissions and promoting sustainable production practices. Europe has established sustainability certification systems, such as the European Commission's Renewable Energy Directive (RED) and the International Sustainability and Carbon Certification (ISCC), to verify compliance with sustainability requirements. Biofuel producers and suppliers must obtain certification to demonstrate compliance with these standards, promoting the use of sustainably produced advanced biofuels. European countries have implemented carbon intensity targets for transport fuels. These targets require fuel suppliers to reduce the average carbon intensity of their fuel offerings. Advanced biofuels, which typically have lower lifecycle emissions compared to fossil fuels, play a crucial role in helping suppliers meet these targets.
Market SegmentationThe Europe Advanced biofuel market is categorized into Energy Crops, Municipal Waste, Food Waste, Algae, and Others.
By Technology, The Europe Advanced biofuel market is categorized into Biochemical and Thermochemical.
By Product, Advanced biofuel is segmented into Biodiesel Cellulosic Ethanol, Biogas, Biobutanol,and Others.
By End use, the Europe Advanced biofuel market has been segmented into Residential, Commercial and Industrial.
Regional AnalysisThe report on the Europe Advanced Biofuel market has been segmented based on Germany, UK, Italy, France, Spain, Finland, Norway, Sweden, and Rest of EUROPE.
Major PlayersBASF SE, Verbio, Shell PLc, Clariant AG (Clariant), INEOS Group, Ltd., Evonik Industries AG, Shell plc (Shell), ExxonMobil Corporation (ExxonMobil), Borregaard AS, Austrocel Hallein GMBH, (AustroCel), UPM, and VERBIO.
Companies MentionedBASF SE
Verbio
Shell PLc
Clariant AG (Clariant)
INEOS Group
Ltd.
Evonik Industries AG
Shell plc (Shell)
ExxonMobil Corporation (ExxonMobil)
Borregaard AS
Austrocel Hallein GMBH
(AustroCel)
UPM
and VERBIO.
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