The latest research study released by Transparency Market Research on “Biofuel Market Forecast to 2022-2031 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Biofuel industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.
Biofuel market is estimated to attain a valuation of US$ 331.81 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 11.5% during the forecast period, 2022-2031
Get a Sample Copy of the Biofuel Market Research Report (Use Corporate Mail Id for Quick Response) –https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1345
“Connect with our team of research specialists and unlock the optimal solution for driving your business growth”
Increase in adoption of renewable energy and the implementation of government regulations to reduce carbon emissions are driving the global biofuel market. Rapid industrialization and urbanization have led to surge in the consumption of electricity worldwide. Thus, several governments are investing in clean energy to cater to the rise in demand for electricity and achieve their sustainability goals simultaneously. Surge in the construction of new biofuel projects is expected to augment the market during the forecast period. Companies in the automotive sector are launching ethanol-powered vehicles. Market players are comprehensively investing in R&D activities to identify potential sources of biofuels to enhance their revenue streams.
Regional Outlook of Global Biofuel Market
North America accounted for prominent share of 39.1% of the global market in 2021. Implementation of stringent regulations is expected to boost adoption of biofuels in the region in the next few years. Under the Energy Independence and Security Act of 2007 of the U.S., the Renewable Fuel Standard mandates that 36 billion gallons per year (bg/y) of biofuels need to be produced by 2023.
Future of the biofuel market in Asia Pacific and Europe is promising with the rise in production of liquid biofuels in Southeast Asia and increase in launch of ethanol-powered vehicles. These regions held 26.3% and 8.5 % share of the global market, respectively, in 2021. Middle East & Africa and Latin America are relatively minor markets for biofuel compared to other regions.
Inquire more about this report before purchase – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1345
The report covers extensive competitive intelligence which includes the following data points:
– Business Overview
– Business Model
– Financial Data
– Financial – Existing
– Financial – Funding
– Product/Service Segment Analysis and specification
– Recent Development and Company Strategy Analysis
– SWOT Analysis
Competitor Analysis:
The significant players operating in the global Biofuel market are
Dow, Cargill, Inc., Archer-Daniels-Midland Company, BTG International Ltd., Renewable Energy Group, Inc., Enerkem, Drax Group, EnviTec Biogas AG, Green Plains, AR Energy Group, Abengoa Bioenergy SA, and VERBIO Vereinigte BioEnergie AG
Market Segmentation –
- Type
- Biodiesel
- Bioethanol
- Bio-heavy Oil
- Others
- Feedstock
- Corn
- Sugarcane
- Vegetable Oil
- Palm Oil
- Others
- End-use
- Transport
- Heat
- Electricity
This Report lets you identify the opportunities in Biofuel Market by means of a region:
- North America (the United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
- South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)
Have Any Query? Ask To Analyst: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=1345
Key Features of the Biofuel Market Report: –
➤ Analyze competitive developments such as expansions, deployments, new product launches, and market acquisitions.
➤ Examine the market opportunities for stakeholders by identifying higher growth sections.
➤ To study and analyze the global Biofuel industry status and forecast including key regions.
➤ An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.
➤ It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter’s Five Forces analysis to provide a deeper understanding of the market.
➤ It helps you make strategic business decisions and investment plans.
Key Developments in Global Biofuel Market:
In May 2019, United Airlines strengthened its reputation as the world’s most environmentally conscious airline by renewing its contract with the U.S.-based World Energy. United Airlines agreed to purchase up to 10 million gallons of cost-competitive, commercial-scale, sustainable aviation biofuel over the next two years.
In January 2019, ExxonMobil Corporation and Renewable Energy Group (REG) announced the signing of a joint research agreement with Clariant to evaluate the potential use of cellulosic sugars from sources such as residues and agricultural waste to produce biofuel
More Trending Reports by Transparency Market Research –
Smart Drug Delivery Systems Market to Grow at Remarkable 15.2% CAGR, Eyeing US$ 36 Billion by 2031
Dyspareunia Treatment Market Poised for 4.1% CAGR Surge, Touches USD 1.02 Billion by 2031
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact Us
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453