Liquid Biofuels Market Size to Surpass Around US$ 126.45 Bn by 2030
(Precedence Research/Intrado/Globe Neswire) According to Precedence Research, the global liquid biofuels market is predicted to surpass around US$ 126.45 billion by 2030 and growing at a CAGR of 6.5% over the forecast period 2021 to 2030. — The liquid biofuels market size was valued at US$ 71.66 billion in 2021. Exhaust from motor vehicles is one of the biggest contributors of air pollution in the world. The U.S. Environment Protection Agency have declared that the on- road motorcars emits three fourth of carbon monoxide pollution in the country. The European Parliament has also stated that 72% of the EU’s carbon emigrations come from road transport. To address the issues surrounding raising air pollution layers, Liquid Biofuels similar as biodiesel and ethanol have come out as the most feasible and viable substitutes to conventional fossil fuels similar as petrol. Governments around the world are actively promoting the adoption of biofuels for transport conditioning as the carbon- grounded energies carry human health costs as well as heavy environmental costs.
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Regional Insight
On the basis of region, the report divides the global liquid biofuels market into Asia Pacific, Europe, North America, and Rest of the World. North America region dominated the global market, this is attributed to the rising awareness regarding the advantages of biofuels over conventional energies and strict regulations and programs pertaining to environmental conservation along with the rising environmental concerns among the crowd are contributing to the growth of the region. In addition, Asia Pacific is likely to exhibit healthy growth during the forecast period. In addition, rapidly rising population and rising economic conditions in developing economies similar as China and India are supplementing the growth of the region.
| Report Scope | Details |
| Market Size by 2028 | USD 111.41 Billion |
| CAGR | 6.5% from 2021 to 2030 |
| Base Year | 2021 |
| Largest Revenue Holder | North America |
| Fastest Growing Region | Asia Pacific |
| Companies Covered | Archer Daniels Midland Company, Green Plains, Wilmar International, Gevo, Pacific Ethanol Inc., Valero Energy Corp., Algenol, Petrobras, Butamax, Renewable Energy Corp., Bunge North America Inc. |
Report Highlights
- Based on product, the bioethanol & biodiesel is the dominating segment of liquid biofuels market. Significant factors impacting the growth include innovation support (for second and third generation biofuels), favorable regulatory and political support, environmental support, geopolitical support, customer support, and agricultural and economic support.
- Based on application, transportation is the dominating segment during the forecast period. Transportation biofuel consumption is demanded to three times by 2030 and has to be on the trail with the Sustainable Development Script (SDS). This compares the one tenth of global transportation energy demand, to be compared with the current position which is around 3.5%.
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Segments Covered in the Report
By Product
- Biodiesel
- Bioethanol
- Others
By Application
- Transportation Fuel
- Power Generation
- Thermal Heating
By Feedstock
- Sugar Crops
- Starch Crops
- Vegetable Oils
- Animal Fats
- Others
By Process
- Fermentation
- Transesterification
- Others
By Geography
- North America
- Europe
- APAC
- Latin America
- Middle East & Africa (MEA)
