Global Liquid Biofuel Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 10.8% during a forecast period.
Market Dynamics
The Research Report gives an in-depth account of the drivers and restraints in the liquid biofuel market. The key factors accrediting to the top and developing biofuel market growth are the recovery of these from biological processes and low-expenditure production process using any of oil-rich crops like oil palm, soy and sunflower. These plants are originated naturally in all the zones across the world, consequently, making biofuels the most environment-friendly energy to use. Most liquid fuels are derived from fossil fuels, though, there are many types, like hydrogen fuel for automotive uses, ethanol and biodiesel, which are also considered as a liquid fuel. Several liquid fuels play a main role in economy and transportation.
Ethanol is a biofuel with high octane number, which is manufactured by fermentation of grain, corn, beet, sugarcane, potatoes and vegetable residues. A strict government policy to lessen the carbon emission in their particular community is the key factor that drives the growth of global liquid biofuel market. Growing concerns of global warming owing to numerous pollutants that radiated from different industries, vehicles in large amount and domestic goods has also impelled the oil and gas corporations to manufacture eco-friendly liquid biofuels. This helps the global liquid biofuel market to show an astonishing growth during the forecast period. Explosive prices of crude oil are hindering the economy of several countries across the world. To overwhelmed such types of issues, the countries are developing cost-effective and less volatile fuels, which impels the growth of the market.
Total production in the third quarter of 2019 was 30.0 Mn tonnes of oil equivalent to 1.8% lower in the third quarter of 2018. Renewable generation reached a record high in 2018 for the UK as a whole and in Scotland, Northern Ireland and England. This is largely the result of a 10 per cent rise in renewable capacity throughout the UK, from 40 GW at the end of 2017 to 44 GW at the end of 2018. Recent world oil demand amounts to about approximately 4000 Mn tonnes of oil equivalent (Mtoe), while the production of liquid biofuels amounts to 36 Mtoe representing less than 1% of this world demand. Advanced liquid biofuels, owing to their high specific energy, are particularly fascinating in the aviation sector. However, High retrofit costs are hindering the global liquid biofuel market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Liquid Biofuel Market Segment analysis
Based on Type, the Bioethanol segment is expected to grow at a CAGR of XX% during the forecast period. Bioethanol is a liquid biofuel that is manufactured through numerous different types of feedstock like soybeans, corn, woodchips, wheat straw, and more newly microalgae. Bioethanol is a renewable biofuel that is also oxygenated (35% oxygen), therefore given that the potential to lessen automobile emissions. Bioethanol can be directly used in vehicles and acts in a similar fashion to conventional fuels. Additionally, bioethanol has a high-octane rating that allows high engine compression ratios which upsurges engine efficacy and performance. As compared to conventional gasoline, the fuel has a low volumetric energy density which directly translates to vehicles requiring more bioethanol per kilometre (by as much as 50%) when compared to gasoline.
Based on Feedstock, the Sugar crops and vegetable oil segment collectively is expected to show fastest growth during the forecast period. This importance of the segment is credited to the demand for recycling the waste produced while manufacturing products that make sure sugar in it. Besides, the consumption of vegetable extract in different food items has also boosted the production of waste vegetable oil that can act as an effective biofuel.
Global Liquid Biofuel Market Regional analysis
The North America region has dominated the market with US$ XX Mn. As per the report by U.S. Biodiesel Plant Production Capacity of 2019, there are 102 active biodiesel plants operating in the U.S. with the capacity of 2.6 Bn gallons per year capacity. The U.S. is the world’s prominent producer of ethanol. It produced around 16 Bn gallons or approximately 60 billion litres of ethanol in 2018. Although biofuels account for just 1% of world fuel consumption, they are the subject of considerable global interest. As compared to conventional energy resources, mostly fossil fuels are becoming limited owing to a rapid global upsurge in demand. Approximately 85% of the liquid biofuels are nowadays produced in the form of bioethanol with the main producers being Brazil and the USA. Biodiesel production is basically concerted in the European Union.
Asia-Pacific is anticipated to the fastest growth over the upcoming years because of the up surging demand for the automobiles. It is predicted to raise the demand for biofuels in the transportation industry. Additionally, increasing number of researchers with an understanding of the potential benefits, impact and risk associated to the production of biofuel are estimated to stimulus the market growth in this region.
The objective of the report is to present a comprehensive analysis of the Global Liquid Biofuel Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Liquid Biofuel Market dynamics, structure by analysing the market segments and projects the Global Liquid Biofuel Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Liquid Biofuel Market make the report investor’s guide.
Scope of the Global Liquid Biofuel Market
Global Liquid Biofuel Market, By Type
• Bioethanol
• Biodiesel
Global Liquid Biofuel Market, By Feedstock
• Sugar Crops
• Starch Crops
• Vegetable Oils
• Animal Fats
• Others
Global Liquid Biofuel Market, By Process
• Fermentation
• Trans esterification
• Others
Global Liquid Biofuel Market, By Application
• Transportation
• Power Generation
• Heat
Global Liquid Biofuel Market, By Region
• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa (MEA)
Key Players operating the Global Liquid Biofuel Market
• Aventine Renewable Energy Holdings Inc.
• Solazyme Inc.
• BlueFire Renewables
• Raizen Energia Participacoes S.A
• Australian Renewable Fuels Limited
• Renewable Energy Group
• Archer Daniel Midland
• Royal DSM
• Neste Oil
• Renewable Energy Group
• Louis Dreyfus Company
• Novozymes
• Future Fuel Corporation
• Wilmar International Limited
• Bunge Limited
• Green Plain Renewable
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