In terms of revenue, the global biofuels & biodiesel market was valued at $xx billion in 2020 and is expected to reach $170.02 billion by 2028, growing at a CAGR of 5.25% during the forecast period. The market study has also analyzed the impact of COVID-19 on the global biofuels & biodiesel market qualitatively as well as quantitatively. While the base year considered for the market study is 2020, the forecasting years are from 2021 to 2028.

GLOBAL BIOFUELS & BIODIESEL MARKET FORECAST 2021-2028

Global Biofuels and Biodiesel Market by Type (Liquid Biofuels (Bioethanol, Biodiesel, Hvo), Gaseous Biofuels, Solid Biofuels (Briquettes/pellets, Biocoal)) Market by Feedstock (Ligno Celluloses, Syngas/biomass/msw, Algae, Sugar and Starches, Oil and Fats, Other Feedstock) Market by Application (Transportation, Electricity Generation, Heating) and by Geography

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In terms of revenue, the global biofuels & biodiesel market was valued at $xx billion in 2020 and is expected to reach $170.02 billion by 2028, growing at a CAGR of 5.25% during the forecast period. The market study has also analyzed the impact of COVID-19 on the global biofuels & biodiesel market qualitatively as well as quantitatively. While the base year considered for the market study is 2020, the forecasting years are from 2021 to 2028.
biofuels-and-biodiesel-market

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Key market drivers fueling the global biofuels & biodiesel market growth:

  • Growing interest in clean and alternative fuels
  • Fluctuating petroleum prices
    • Petroleum prices are affected by multiple factors, majorly dependent on the decisions associated with its output by key producers such as the OPEC (Organization of Petroleum Exporting Countries), independent petroleum states like Russia, and oil-producing firms.
    • In addition, petroleum prices also observed a surge from $40.76 per barrel in 2016 to $57.72 per barrel in 2021. The highest ever recorded price between these years was $69.78 in 2018.
    • The high and volatile prices have further increased the awareness regarding the harmful effects of fossil fuels on global climatic changes. As a result, an evident shift towards the usage of biofuels is witnessed.
  • Increasing availability of feedstock

Key growth restraining factors:

  • Higher cost of production of biofuels compared to conventional fuels
  • Stringent rules and regulations over the way of producing biofuels
    • Various regulations by different governments restrict the method of biofuels’ production and import across countries, with certain exceptions.
    • This includes the RED (Renewable Energy Directive) formulated by the European Union (EU) for all countries under its radar. In accordance with the RED, minimum greenhouse gas (GHG) emissions are mandatory for all conventional fuels. Hence, the regulation promotes the production of biofuels.
    • Similarly, different countries have various regulating standards, including the Renewable Fuel Standard, the United States, the Biofuels Association of Australia, and the National Policy on Biofuels, India.

The report on the global biofuels & biodiesel market includes the segmentation analysis of type, feedstock, and application.

Market by Feedstock:

  • Ligno Celluloses
    • Over the forecasted period, ligno celluloses is set to be the fastest-growing segment under the feedstock category, expected to grow at a CAGR of 7.05%.
    • This feedstock type is considered the most abundant renewable biomass on Earth. It is also an alternative source for the production of renewable fuels as well as chemicals.
    • While the concentration of lingo cellulose in agricultural plant residues comprises 50%-90% of the total organic matter, biomass constitutes two carbohydrate polymers, namely cellulose and hemicelluloses.
  • Syngas/Biomass/MSW
  • Algae
  • Sugar and Starches
  • Oil and Fats
  • Other Feedstock

Geographically, the global biofuels & biodiesel market has been segmented on the basis of nineteen major countries, which includes:

  • United States
  • Brazil
  • Indonesia
  • China
  • France
  • Canada
  • Germany
    • Germany is anticipated to be the fastest-growing market, projected to grow at a CAGR of 7.19% over the forecasted years.
    • In 2019, the country’s production of biofuels accounted for 72.81 thousand barrels per day, and the production of biodiesel equated to 62.29 thousand barrels per day in the same year.
    • Biofuels continue to observe significant growth in Germany. Companies supplying fuel in the country are also obligated to reduce greenhouse gas emissions by a certain percentage.
    • In addition, the new laws and regulations further encourage the use of more advanced biofuels.
  • Thailand
  • India
  • Argentina
  • United Kingdom
  • Spain
  • Sweden
  • Colombia
  • Netherlands
  • Malaysia
  • Philippines
  • Japan
  • Rest of World

Major players operating in the global biofuels & biodiesel market:

  • Abengoa Bioenergia SA
  • Archer Daniels Midland Company
  • Cargill Incorporated
  • Novozymes A/S
  • Others

Key strategies adopted by some of these companies:

In February 2020, Clariant AG expanded its production capability in biofuels by investing in Yuncos, Spain Plant. In August 2020, GranBio partnered with NextChem to achieve global leadership towards its patented product GranBio 2G Ethanol technology in order to manufacture cellulosic ethanol. In March 2020, Neste acquired Mahoney Environmental for expanding their global renewable raw materials platform.

Key trends of the global biofuels & biodiesel market:

  • A rapid shift towards the usage of second as well as third-generation biofuels is observed, thereby driving the demand for biofuels in the global market. Moreover, there is a bigger focus on the production of third-generation biofuels, based on microbiological processing of the residues of agricultural, urban as well as industrial. Besides, after resolving few technical problems, it could be easily affordable by end-users.
  • Several key players such as GranBio, Verbio AG, and BP PLC are currently investing in research, as well as the production of different products and services for the global biofuels & biodiesel market.
  • With the rising availability of feedstock and the growing usage of biofuels by various applications, especially in electricity generation, the demand across the global biofuels & biodiesel market is anticipated to increase over the forecasted period.

 

Frequently Asked Questions (FAQs):

  • What is the worth of the global biofuels & biodiesel market?

A: The global biofuels & biodiesel market was valued at $87.55 billion in 2020.

  • Which is the leading application within the global biofuels & biodiesel market?

A: Electricity is the leading application, determined by the segment’s revenue share of 43.51% in 2020.

  • Which countries are the largest producer of biofuels& biodiesel?

A: As of 2019, the United States and Indonesia recorded the highest production of biofuels and biodiesel, respectively.

  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • KEY DRIVERS
      • GROWING INTEREST IN CLEAN AND ALTERNATIVE FUELS
      • FLUCTUATING PETROLEUM PRICES
      • INCREASING AVAILABILITY OF FEEDSTOCKS
    • KEY RESTRAINTS
      • HIGHER COST OF PRODUCTION OF BIOFUELS COMPARED TO CONVENTIONAL FUELS
      • STRINGENT RULES AND REGULATIONS OVER WAY OF PRODUCTION OF BIOFUELS
  1. KEY ANALYTICS
    • IMPACT OF COVID-19 ON BIOFUELS & BIODIESEL MARKET
    • PRODUCTION ANALYSIS OF BIOFUELS & BIODIESEL IN THE MAJOR COUNTRIES
    • KEY INVESTMENT INSIGHTS
    • PORTER’S FIVE FORCES ANALYSIS
      • BUYERS POWER
      • SUPPLIERS POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • KEY BUYING CRITERIA
      • AVAILABILITY OF RAW MATERIALS
      • PRICE
      • QUALITY
    • REGULATORY FRAMEWORK
  2. MARKET BY TYPE
    • LIQUID BIOFUELS
      • BIOETHANOL
      • BIODIESEL
      • HVO
    • GASEOUS BIOFUELS
    • SOLID BIOFUELS
      • BRIQUETTES/PELLETS
      • BIOCOAL
  1. MARKET BY FEEDSTOCK
    • LIGNO CELLULOSES
    • SYNGAS/BIOMASS/MSW
    • ALGAE
    • SUGAR AND STARCHES
    • OIL AND FATS
    • OTHER FEEDSTOCK
  2. MARKET BY APPLICATION
    • TRANSPORTATION
    • ELECTRICITY GENERATION
    • HEATING
  3. GEOGRAPHICAL ANALYSIS
    • UNITED STATES
    • BRAZIL
    • INDONESIA
    • CHINA
    • FRANCE
    • CANADA
    • GERMANY
    • THAILAND
    • INDIA
    • ARGENTINA
    • UNITED KINGDOM
    • SPAIN
    • SWEDEN
    • COLOMBIA
    • NETHERLANDS
    • MALAYSIA
    • PHILIPPINES
    • JAPAN
    • REST OF WORLD
  4. COMPETITIVE LANDSCAPE
    • KEY STRATEGIC DEVELOPMENTS
      • MERGERS & ACQUISITIONS
      • PARTNERSHIPS, CONTRACTS/AGREEMENTS & COLLABORATIONS
      • BUSINESS EXPANSIONS & DIVESTITURES
    • COMPANY PROFILES
      • ABENGOA BIOENERGIA SA
      • AIR LIQUIDE SA
      • ALGENOL BIOFUELS
      • ARCHER DANIELS MIDLAND COMPANY
      • BLUEFIRE RENEWABLES
      • BP PLC
      • CARGILL INCORPORATED
      • CLARIANT AG
      • EI DU PONT DE NEMOURS AND COMPANY
      • FIBERIGHT LLC
      • GRANBIO
      • NESTE OYJ
      • NOVOZYMES A/S
      • PACIFIC ETHANOL INC
      • POET LLC
      • RENEWABLE ENERGY GROUP INC
      • ROYAL DUTCH SHELL PLC
      • VERBIO AG
      • WILMAR INTERNATIONAL LTD
      • ZEACHEM INC

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – BIOFUELS & BIODIESEL

TABLE 2: REGULATORY FRAMEWORK

TABLE 3: GLOBAL BIOFUELS & BIODIESEL MARKET, BY TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 4: GLOBAL BIOFUELS & BIODIESEL MARKET, BY TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 5: GLOBAL BIOFUELS & BIODIESEL MARKET, BY LIQUID BIOFUELS, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 6: GLOBAL BIOFUELS & BIODIESEL MARKET, BY LIQUID BIOFUELS, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 7: GLOBAL BIOFUELS & BIODIESEL MARKET, BY SOLID BIOFUELS, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 8: GLOBAL BIOFUELS & BIODIESEL MARKET, BY SOLID BIOFUELS, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 9: GLOBAL BIOFUELS & BIODIESEL MARKET, BY FEEDSTOCK, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 10: GLOBAL BIOFUELS & BIODIESEL MARKET, BY FEEDSTOCK, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 11: GLOBAL BIOFUELS & BIODIESEL MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 12: GLOBAL BIOFUELS & BIODIESEL MARKET, BY APPLICATION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 13: GLOBAL BIOFUELS & BIODIESEL MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 14: GLOBAL BIOFUELS & BIODIESEL MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 15: LIST OF MERGERS & ACQUISITIONS

TABLE 16: LIST OF PARTNERSHIPS, CONTRACTS/AGREEMENTS & COLLABORATIONS

TABLE 17: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES

FIGURE 1: FLUCTUATIONS IN PETROLEUM PRICES (IN $ PER BARREL)

FIGURE 2: PRODUCTION OF BIOFUELS IN MAJOR COUNTRIES IN 2019 (IN THOUSAND BARRELS PER DAY)

FIGURE 3: PRODUCTION OF BIODIESEL IN MAJOR COUNTRIES IN 2019 (IN THOUSAND BARRELS PER DAY)

FIGURE 4: KEY INVESTMENT INSIGHTS

FIGURE 5: PORTER’S FIVE FORCES ANALYSIS

FIGURE 6: OPPORTUNITY MATRIX

FIGURE 7: VENDOR LANDSCAPE

FIGURE 8: KEY BUYING CRITERIA

FIGURE 9: GLOBAL BIOFUELS & BIODIESEL MARKET, GROWTH POTENTIAL, BY TYPE, IN 2020

FIGURE 10: GLOBAL BIOFUELS & BIODIESEL MARKET, BY LIQUID BIOFUELS, 2021-2028 (IN $ MILLION)

FIGURE 11: GLOBAL BIOFUELS & BIODIESEL MARKET, GROWTH POTENTIAL, BY LIQUID BIOFUELS, IN 2020

FIGURE 12: GLOBAL BIOFUELS & BIODIESEL MARKET, BY BIOETHANOL, 2021-2028 (IN $ MILLION)

FIGURE 13: GLOBAL BIOFUELS & BIODIESEL MARKET, BY BIODIESEL, 2021-2028 (IN $ MILLION)

FIGURE 14: GLOBAL BIOFUELS & BIODIESEL MARKET, BY HVO, 2021-2028 (IN $ MILLION)

FIGURE 15: GLOBAL BIOFUELS & BIODIESEL MARKET, BY GASEOUS BIOFUELS, 2021-2028 (IN $ MILLION)

FIGURE 16: GLOBAL BIOFUELS & BIODIESEL MARKET, BY SOLID BIOFUELS, 2021-2028 (IN $ MILLION)

FIGURE 17: GLOBAL BIOFUELS & BIODIESEL MARKET, GROWTH POTENTIAL, BY SOLID BIOFUELS, IN 2020

FIGURE 18: GLOBAL BIOFUELS & BIODIESEL MARKET, BY BRIQUETTES/PELLETS, 2021-2028 (IN $ MILLION)

FIGURE 19: GLOBAL BIOFUELS & BIODIESEL MARKET, BY BIOCOAL, 2021-2028 (IN $ MILLION)

FIGURE 20: GLOBAL BIOFUELS & BIODIESEL MARKET, GROWTH POTENTIAL, BY FEEDSTOCK, IN 2020

FIGURE 21: GLOBAL BIOFUELS & BIODIESEL MARKET, BY LIGNO CELLULOSES, 2021-2028 (IN $ MILLION)

FIGURE 22: GLOBAL BIOFUELS & BIODIESEL MARKET, SYNGAS/BIOMASS/MSW, 2021-2028 (IN $ MILLION)

FIGURE 23: GLOBAL BIOFUELS & BIODIESEL MARKET, BY ALGAE, 2021-2028 (IN $ MILLION)

FIGURE 24: GLOBAL BIOFUELS & BIODIESEL MARKET, BY SUGAR AND STARCHES, 2021-2028 (IN $ MILLION)

FIGURE 25: GLOBAL BIOFUELS & BIODIESEL MARKET, BY OIL AND FATS, 2021-2028 (IN $ MILLION)

FIGURE 26: GLOBAL BIOFUELS & BIODIESEL MARKET, BY OTHER FEEDSTOCK, 2021-2028 (IN $ MILLION)

FIGURE 27: GLOBAL BIOFUELS & BIODIESEL MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2020

FIGURE 28: GLOBAL BIOFUELS & BIODIESEL MARKET, BY TRANSPORTATION, 2021-2028 (IN $ MILLION)

FIGURE 29: GLOBAL BIOFUELS & BIODIESEL MARKET, BY ELECTRICITY GENERATION, 2021-2028 (IN $ MILLION)

FIGURE 30: GLOBAL BIOFUELS & BIODIESEL MARKET, BY HEATING, 2021-2028 (IN $ MILLION)

FIGURE 31: UNITED STATES BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 32: BRAZIL BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 33: INDONESIA BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 34: CHINA BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 35: FRANCE BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 36: CANADA BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 37: GERMANY BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 38: THAILAND BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 39: INDIA BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 40: ARGENTINA BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 41: UNITED KINGDOM BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 42: SPAIN BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 43: SWEDEN BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 44: COLOMBIA BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 45: NETHERLANDS BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 46: MALAYSIA BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 47: PHILIPPINES BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 48: JAPAN BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

FIGURE 49: REST OF THE WORLD BIOFUELS & BIODIESEL MARKET, 2021-2028 (IN $ MILLION)

  1. MARKET BY TYPE
    • LIQUID BIOFUELS
      • BIOETHANOL
      • BIODIESEL
      • HVO
    • GASEOUS BIOFUELS
    • SOLID BIOFUELS
      • BRIQUETTES/PELLETS
      • BIOCOAL
  1. MARKET BY FEEDSTOCK
    • LIGNO CELLULOSES
    • SYNGAS/BIOMASS/MSW
    • ALGAE
    • SUGAR AND STARCHES
    • OIL AND FATS
    • OTHER FEEDSTOCK
  2. MARKET BY APPLICATION
    • TRANSPORTATION
    • ELECTRICITY GENERATION
    • HEATING
  3. GEOGRAPHICAL ANALYSIS
    • UNITED STATES
    • BRAZIL
    • INDONESIA
    • CHINA
    • FRANCE
    • CANADA
    • GERMANY
    • THAILAND
    • INDIA
    • ARGENTINA
    • UNITED KINGDOM
    • SPAIN
    • SWEDEN
    • COLOMBIA
    • NETHERLANDS
    • MALAYSIA
    • PHILIPPINES
    • JAPAN
    • REST OF WORLD

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