The Business Research Company’s report on the Advanced Biofuels Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the advanced biofuels market in recent years?
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 June 2023, according to the Department for Transport (DfT), a UK government body, the number of licensed vehicles in the UK reached 40.7 million by the end of 2022, representing a 1.0% increase compared to December 2021. Therefore, the increasing demand from the automotive industry is driving the growth of the advanced biofuels market.
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What is the projected market size of the advanced biofuels industry, and how is it expected to grow?
The advanced biofuels market size has grown exponentially in recent years. It will grow from$116.85 billion in 2024 to $164.68 billion in 2025 at a compound annual growth rate (CAGR) of 40.9%. 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 “$654.34 billion in 2029 at a compound annual growth rate (CAGR) of 41.2%. 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 production.
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Who are the key players driving competition in the advanced biofuels market?
Major companies operating in the advanced biofuels market include 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.
What key trends are expected to drive the adenosine triphosphate (atp) assays market during the forecast period?
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.
Which key geographies are driving the growth of the advanced biofuels market?
North America was the largest region in the advanced biofuels market in 2024.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
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What are the key segments driving growth in the advanced biofuels market?
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
Subsegments:
1) By Cellulosic Ethanol: Corn Stover, Sugarcane Bagasse, Wood Chips, Other Biomass Feedstocks
2) By Biofuel: Biodiesel, Renewable Diesel, HVO (Hydrotreated Vegetable Oil)
3) By Biobutanol: A-Biobutanol, B-Biobutanol, Other Butanol Types
4) By BioDME: Produced from Biomass, Produced from Methanol
5) By Other Fuel Types: Biogas, Renewable Jet Fuel, Synthetic Fuels
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What defines the structure and scope of the advanced biofuels market?
Advanced biofuels are liquid fuels that, when compared to fossil fuels, have a lifecycle greenhouse gas emissions reduction of at least 50%. They are often sourced from non-food-based feedstocks. Biofuels are made from regenerative organic materials and serve as alternatives to liquid petroleum fuels.
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