The advanced biofuels global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Advanced Biofuels Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The advanced biofuels market size has grown exponentially in recent years. It will grow from $81.79 billion in 2023 to $117.52 billion in 2024 at a compound annual growth rate (CAGR) of 43.7%. The growth in the historic period can be attributed to renewable energy policies, environmental regulations, volatility in crude oil prices, research and development investments, growing awareness of climate change.
The advanced biofuels market size is expected to see exponential growth in the next few years. It will grow to $462.76 billion in 2028 at a compound annual growth rate (CAGR) of 40.9%. The growth in the forecast period can be attributed to scale-up of production facilities, international collaboration and agreements, economic incentives, market competitiveness, biofuel mandates and targets. Major trends in the forecast period include technological innovation, policy support and regulatory environment, feedstock diversification, global energy transition, scaling up commercial productio.
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Scope Of Advanced Biofuels Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Advanced Biofuels Market Overview
Market Drivers –
The increasing demand from the automotive industry is expected to propel the growth of the advanced biofuels market going forward. The automotive industry refers to all businesses and endeavors concerned with the production of motor vehicles, including most of their parts, such as their bodywork and engines, but excluding their tires, batteries, and gasoline. Advanced biodiesel refers to a second-generation biofuel that is utilized in the automotive industry as a replacement for gasoline and diesel. Low carbon emissions are the driving force behind the adoption of advanced biofuel in the automotive industry. For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), the main lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Chinese automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the increasing demand from the automotive industry is driving the growth of the advanced biofuels market.
Market Trends –
Product innovations are the key trends gaining popularity in the advanced biofuels market going forward. Major companies in the advanced biofuels market are focusing on launching innovative products to sustain their position in the market. For instance, in February 2023, PRIO, a Portugal-based producer of biofuels, launched the ECO Bunkers B30 biofuel, a new 30% advanced biofuel blend. It is a brand-new biofuel product that contains 30% advanced biofuel made from waste raw materials. The fuel is combined at PRIO’s tank terminal in Aveiro after being manufactured at its biodiesel plant.
The advanced biofuels market covered in this report is segmented –
1) By Fuel Type: Cellulosic Ethanol, Biofuel, Biobutanol, BioDME, Other Fuel Types
2) By Processing Technology: Thermochemical, Biochemical
3) By Raw Material: Jatropha, Camelina, Algae, Simple Lignocellulose, Other Raw Materials
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Regional Insights –
North America was the largest region in the advanced biofuels market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global advanced biofuels market report during the forecast period. The regions covered in the advanced biofuels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the advanced biofuels market report are Abengoa Bioenergy Co. LLC, Algenol Biofuels Inc., Chemtex Group, Bangchak Corporation Public Company Limited (BCP), Clariant Produkte GmbH, Fiberight LLC, DuPont Industrial Biosciences, GranBio Investimentos S.A., A2BE Carbon Capture LLC, Fujian Zhongde Energy Co. Ltd., Inbicon A/S, INEOS Technologies Limited, Poet-DSM Advanced Biofuel LLC, Green Biologics Ltd., ZeaChem Inc., Sundrop Fuels Inc., Amyris Inc., Gevo Inc., Renewable Energy Group Inc., Novozymes A/S, LanzaTech Inc., Mascoma Corporation, Solazyme Inc., Cool Planet Energy Systems, Enerkem Inc., Butamax Advanced Biofuels LLC, Codexis Inc., Coskata Inc., Aemetis Inc., Iogen Corporation, Siluria Technologies, Kiverdi Inc., Alkol Biotech Inc.
Table of Contents
1. Executive Summary
2. Advanced Biofuels Market Report Structure
3. Advanced Biofuels Market Trends And Strategies
4. Advanced Biofuels Market – Macro Economic Scenario
5. Advanced Biofuels Market Size And Growth
…..
27. Advanced Biofuels Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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