Market Size of Advanced Biofuel Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Advanced Biofuel Market Analysis
The global advanced biofuel market is expected to register a CAGR of about 5.3% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. The market has now reached pre-pandemic levels.
- Over the long term, the demand for secure, sustainable, and clean energy coupled with government mandates for increasing blending in automotive fuels is expected to propel the demand for advanced biofuels globally.
- On the flip side, the lack of awareness regarding the advantages of advanced biofuels is restraining the market. Due to this, the adoption of biofuels is limited to some countries only.
- Nevertheless, research is underway to develop additional feedstocks that could be used to make biofuels, along with production processes that are safe for the environment and take less toll on it, which is likely to present many opportunities in the future.
- North America is likely to witness significant growth in the advanced biofuels market during the forecast period.
Advanced Biofuel Industry Segmentation
Advanced biofuels, also known as second-generation biofuels, are renewable fuels used as alternatives for gasoline and diesel with significantly low emissions of greenhouse gases.
The advanced biofuel market is segmented by raw material, biofuel type, technology, and geography. By raw material, the market is segmented into jatropha, lignocellulose, algae, and other raw materials. The market is segmented by biofuel type into cellulosic biofuel, biodiesel, biogas, biobutanol, and others. By technology, the market is segmented into biochemical and thermochemical. The report also covers the market size and forecasts for the advanced biofuels market across major regions. For each segment, the market sizing and forecasts are provided based on production capacity (in thousand barrels of oil equivalent per day).
| By Raw Material | |
| Jatropha | |
| Lignocellulose | |
| Algae | |
| Other Raw Materials |
| By Biofuel Type | |
| Cellulosic Biofuel | |
| Biodiesel | |
| Biogas | |
| Biobutanol | |
| Other Biofuel Types |
| By Technology | |
| Biochemical | |
| Thermochemical |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East and Africa |
Advanced Biofuel Market Size Summary
The advanced biofuel market is poised for growth, driven by the increasing demand for secure, sustainable, and clean energy solutions. Government mandates for blending biofuels with automotive fuels are expected to further propel market expansion globally. Despite the positive outlook, the market faces challenges such as limited awareness of the benefits of advanced biofuels, which restricts adoption to a few countries. However, ongoing research into new feedstocks and environmentally friendly production processes presents significant opportunities for future growth. North America is anticipated to experience substantial growth in this sector, supported by strong policy frameworks and investments in research and development.
Biodiesel, derived from renewable biological sources like vegetable oils, is gaining traction as an alternative fuel for transportation. Advances in production technologies, such as the use of heterogeneous or enzymatic catalysts, are making biodiesel production more cost-effective and environmentally friendly. The global production and consumption of liquid biofuels have seen exponential growth, driven by public policies and biofuel mandates in major countries. Notable producers like Indonesia, the United States, and Brazil are leading the way in biodiesel production. In North America, the United States is at the forefront, with significant investments and policies like the Renewable Fuels Standard (RFS) driving the biofuel industry. The region's focus on reducing emissions and promoting advanced biofuels positions it as a key player in the global market, which is expected to witness significant growth during the forecast period.
Advanced Biofuel Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Advanced Biofuel Market Size and Forecast, In Thousand Barrels of Oil Equivalent Per Day, Till 2027
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1.3 Key Existing and Upcoming Advanced Biofuel Projects, as of 2021
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1.4 Recent Trends and Developments
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1.5 Government Policies and Regulations
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1.6 Market Dynamics
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1.6.1 Market Drivers
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1.6.2 Market Restraints
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1.7 Supply Chain Analysis
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1.8 Industry Attractiveness - Porter's Five Forces Analysis
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1.8.1 Bargaining Power of Suppliers
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1.8.2 Bargaining Power of Consumers
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1.8.3 Threat of New Entrants
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1.8.4 Threat of Substitutes Products and Services
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1.8.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Raw Material
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2.1.1 Jatropha
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2.1.2 Lignocellulose
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2.1.3 Algae
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2.1.4 Other Raw Materials
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2.2 By Biofuel Type
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2.2.1 Cellulosic Biofuel
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2.2.2 Biodiesel
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2.2.3 Biogas
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2.2.4 Biobutanol
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2.2.5 Other Biofuel Types
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2.3 By Technology
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2.3.1 Biochemical
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2.3.2 Thermochemical
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2.4 By Geography
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2.4.1 North America
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2.4.2 Europe
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2.4.3 Asia-Pacific
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2.4.4 South America
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2.4.5 Middle East and Africa
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Advanced Biofuel Market Size FAQs
What is the current Advanced Biofuel Market size?
The Advanced Biofuel Market is projected to register a CAGR of greater than 5.30% during the forecast period (2024-2029)
Who are the key players in Advanced Biofuel Market?
Abengoa Bioenergy, Chemtex Group, Bankchak Petroleum, Clariant Produkte GmbH and DuPont Industrial Biosciences are the major companies operating in the Advanced Biofuel Market.
