USD 41.7 billion
B5 Fuel Market Size, Share, Growth Analysis, By Application(Industries, Transportation, Chemicals, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG10G2017 |
Region:
Global |
Published Date: July, 2024
Pages:
242
|Tables:
37
|Figures:
74
B5 Fuel Market Insights
B5 Fuel Market size was valued at USD 49.24 billion in 2022 and is poised to grow from USD 52.05 billion in 2023 to USD 81.10 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).
B5 Fuels are becoming popular since they Are blended with petroleum diesel that is up to 95%. There are many advantages and applications associated with the B5 fuels which are included in the biodiesel. They help many countries across the globe to reduce their dependence on the foreign oil reserve as its domestically produced and can be used in any diesel engine with little or no modification to the engine or the fuel system.
It reduces the concentration of petrochemical which enter in results in the advantages on environment. Along with it can be used in existing diesel system with little or no modification at all and can replace fossil fuels,to become the most preferred primary energy source.When the petrochemicals, which are used in transportation, and other sectors , they release greenhouse gases like carbon dioxide in the atmosphere that raises the temperature and causes the global warming.Therefore, mixing of the biodiesel with the petrochemical can help in the protection of environment from further heating up.
US B5 Fuel Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Transportation
Fastest Growth
Transportation
Growth Rate
5.7% CAGR
Global B5 Fuel Market ($ Bn)
Country Share for Asia Pacific Region (%)
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B5 Fuel Market Segmental Analysis
Global B5 Fuel market is segmented on the basis of application, and region. By application, the B5 Fuel Market is segmented into Industries,Transportation, Chemicals, and others. By region, the B5 Fuel Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
B5 Fuel Market Analysis by Application
By application, the global market is divided into many segments such as Industries,Transportation, Chemicals, and others. Transportation segment held the largest global B5 Fuel market share due to the wide range of benefits provided by B5 Fuel in it.They are approved by ASTM for safe operation in any compression ignition engine design to be operated on petroleum diesel.Therefore, without modifying compression ignition engine design, it can be used with petrochemical design and the customers have also repaired that they have not seen much difference between blended Petrochemical normal petrochemicals.
Global B5 Fuel Market Size By Vertical
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B5 Fuel Market Regional Insights
Globally, Asia Pacific is estimated to hold the highest global B5 Fuel market share in 2021. Main factors during this growth period are the presence of top market players,Increasing industrialisation,demand for clean energy,and others.
Above all, Asia Pacific is expected to grow fastest during the forecast period. The reason for the same is increasing acquisition of B5 Fuel technology in the region of Asia Pacific and mainly in China and Japan. Penetration of automotive industries and vehicles in Asia Pacific has doubled in the last few years. In addition, various operators are investing heavily in order to provide it at an affordable price to the consumers, which is likely to boost the demand for B5 Fuel in the region.
Global B5 Fuel Market Size By Geography
- Largest
- Fastest
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B5 Fuel Market Dynamics
B5 Fuel Market Drivers
Increased Application to Bolster Market Growth
- The B5 Fuel card is a type of key facilitator for operation in any compression ignition engine design to be operated on petroleum diesel.This can include light duty and heavy duty diesel cars and trucks, tractors, boards and electrical generators.Engines operating on beef 5 fuel have similar fuel consumption, horsepower and top to engines running on petroleum diesel.With the 5% biodiesel content, 1% to 2% less energy per gallon than petroleum diesel, and many B5 users report no noticeable difference in performance or fuel economy.This increasing use of B5 fuel will in various applications has led to the growth of the market.
B5 Fuel Market Restraints
Alternatives Available in the Market to Hinder Market Growth
- B 20 fuel which have higher blending level of biodiesel up to 20% can have greater positive impact on environment.Compared to B5 fuel, they cant and majorly help several countries across the globe to reduce their dependence on foreign oil reserves as it domestically can be produced and along with any diesel engine with little or no modification to the engine or fuel system can use it.It also represents a good balance of cost, emissions, cold weather performance, material compatibility and ability to act as a solvent.This major benefits provided by B 20 fuel can restrain the growth of B5 fuel market.
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B5 Fuel Market Competitive Landscape
Competition in the global B5 Fuel market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with B5 Fuel will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
B5 Fuel Market Top Player’s Company Profiles
- Chevron
- ExxonMobil
- Royal Dutch Shell
- BP
- Total S.A.
- Sinopec
- China National Petroleum Corporation (CNPC)
- Petrobras
- Valero Energy Corporation
- Lukoil
- Gazprom
- Marathon Petroleum Corporation
- Eni S.p.A.
- Phillips 66
- Indian Oil Corporation
- Pemex
- Caltex
- Petronas
- Reliance Industries Limited
- Rosneft
B5 Fuel Market Recent Developments
- In February 2023, PRIO launched its new ECO Bunkers B30 biofuel in partnership with Norwegian Cruise Line Holdings and World Fuel Services.PRIO previously launched ECO Bunkers B15, a green fuel for ships with 15% biodiesel and the company then launched a 20% biofuel blend, ECO Bunkers E20.
B5 Fuel Key Market Trends
- There is a recent trend of using B5 fuel in light and heavy duty diesel cars, trucks, tractors, boats and generators as they are safe to use.They are approved by ASTM for safe operation in any compression ignition engine design to be operated on petroleum diesel.US has adopted renewable fuel standard which has allowed the distribution of B5 biodiesel in fuel station throughout the country.
B5 Fuel Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global B5 Fuel market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists such as It reduces the concentration of petrochemical which enter in results in the advantages on environment. Along with it can be used in existing diesel system with little or no modification at all and can replace fossil fuels,to become the most preferred primary energy source. B5 Fuels will enable devices to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 49.24 billion |
| Market size value in 2031 | USD 81.10 billion |
| Growth Rate | 5.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on B5 Fuel Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on B5 Fuel Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the B5 Fuel Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the B5 Fuel Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the B5 Fuel Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the B5 Fuel Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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