USD 76.32 Billion
Liquid Biofuels Market Size, Share, Growth Analysis, By Product(Biodiesel, Bioethanol, and Others), By Feedstock(Sugar Crops, Starch Crops, Vegetable Oils, Animal Fats), By Process(Fermentation, Transesterification, and Others), By Application(Transportation, Power Generation, and Heat), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG10E2016 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
119
|Figures:
77
Liquid Biofuels Market Insights
Liquid Biofuels Market size was valued at USD 81.28 Billion in 2023 and is poised to grow from USD 86.56 Billion in 2024 to USD 143.26 Billion by 2032, growing at a CAGR of 6.5% during the forecast period (2025-2032).
The global liquid biofuels market is experiencing dynamic growth driven by a combination of environmental concerns, energy security, and the pursuit of sustainable alternatives to traditional fossil fuels. Liquid biofuels, which include ethanol and biodiesel derived from renewable sources such as biomass and agricultural feedstocks, offer a promising pathway to reduce greenhouse gas emissions and mitigate climate change impacts.
The market is propelled by regulatory mandates and incentives promoting biofuel adoption in various countries, aimed at achieving renewable energy targets and enhancing energy independence. Rising awareness of the finite nature of fossil fuels and their environmental implications has spurred investments in research and development to improve biofuel production processes, scalability, and efficiency.
However, challenges such as competition with food production, land-use conflicts, and the need for advanced technologies to ensure consistent quality and affordability persist. As the global emphasis on clean energy intensifies, the liquid biofuels market is poised to continue its expansion, playing a pivotal role in the transition towards a more sustainable energy landscape.
US Liquid Biofuels 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
6.5% CAGR
Global Liquid Biofuels Market ($ Bn)
Country Share for North America Region (%)
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Liquid Biofuels Market Segmental Analysis
The global liquid biofuels market is segmented into five major Product, Feedstock, Process, Application and region. Based on Product the market is segmented as, Biodiesel, Bioethanol and Others. Based on feedstock, the market is bifurcated as, Sugar Crops, Starch Crops, Vegetable Oils, Animal Fats, Others. On the basis of Application the market is segmented as, Transportation, Power Generation, Heat. The Process segment is further categorized into Fermentation, Transesterification, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Liquid Biofuels Market Analysis by Feedstock
Among the various feedstock options in the global liquid biofuels market, vegetable oils have emerged as dominant. Vegetable oils, derived from crops like soybeans, palm, and rapeseed, offer a significant advantage due to their versatility and established agricultural infrastructure. These oils can be relatively easily converted into biodiesel through transesterification processes. Moreover, vegetable oils possess favorable energy content and compatibility with existing diesel engines, making them a practical replacement for fossil fuels.
However, Sugar Crops have been experiencing notable growth due to their efficiency and versatility. Sugar crops, such as sugarcane and sugar beet, offer high sugar content that can be converted into bioethanol through well-established fermentation processes. The growth in this feedstock category can be attributed to several factors, including the ability to cultivate sugar crops in diverse geographical regions, their relatively higher energy yield compared to other feedstocks, and advancements in agricultural practices and biotechnology. Additionally, sugar crops are not only used for biofuel production but also have other applications, reducing concerns related to competition with food production.
Liquid Biofuels Market Analysis by Application
Among the applications of liquid biofuels, the transportation sector stands as the largest and most dominant in the global market. This prominence can be attributed to the substantial demand for liquid fuels, such as ethanol and biodiesel, as alternatives to conventional gasoline and diesel in vehicles. Stringent emissions regulations and the need to reduce the carbon footprint of transportation have driven governments and industries to adopt biofuels as a cleaner energy source for cars, trucks, ships, and even aviation.
Moreover, the transportation sector is experiencing the fastest growth in the market as well. This growth can be attributed to the urgent need to reduce emissions from the transportation industry, which is a major contributor to greenhouse gas emissions. Furthermore, the transportation sector has a significant direct impact on public awareness, making it a key focus area for sustainable fuel adoption.
Global Liquid Biofuels Market By Application
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Liquid Biofuels Market Regional Insights
North America and Europe have historically held dominant positions in the global liquid biofuels market. Both regions have implemented supportive policies, renewable energy targets, and incentives that encourage the production and use of biofuels as alternatives to conventional fossil fuels. North America, particularly the United States and Canada, has invested in advanced biofuel technologies, including cellulosic ethanol and renewable diesel, aimed at reducing carbon emissions and enhancing energy security. Similarly, Europe, with its robust renewable energy policies under the European Union, has witnessed substantial growth in biodiesel and bioethanol production.
However, Asia Pacific is positioned as the fastest growing in the global liquid biofuels market due to a confluence of factors. Rapid industrialization, urbanization, and increasing energy demand in the region have led governments and industries to seek alternative, cleaner energy sources to mitigate environmental impacts. Several countries in Asia Pacific are heavily reliant on energy imports, making biofuels an attractive solution to enhance energy security. Moreover, the region's abundant agricultural resources provide a strong foundation for biofuel feedstock production.
Global Liquid Biofuels Market By Region
- Largest
- Fastest
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Liquid Biofuels Market Dynamics
Liquid Biofuels Market Drivers
Renewable Energy Mandates and Climate Goals
- As nations strive to reduce carbon emissions and combat climate change, renewable energy sources like liquid biofuels have gained prominence as a viable alternative to conventional fossil fuels. Many countries have established ambitious targets to increase the share of renewable energy in their energy mix, prompting significant investments in biofuel research, development, and production. Legislative initiatives and regulatory frameworks that mandate the blending of biofuels with fossil fuels further stimulate market demand. This driver not only fosters innovation in biofuel technologies but also aligns with the broader global movement toward sustainable energy solutions.
Liquid Biofuels Market Restraints
High Retrofit Cost
- The transition from conventional fossil fuel-powered diesel engines to biofuel systems requires careful consideration due to potential cost implications and technical challenges. The process involves partial or complete upgrades to existing systems without disrupting operational hours. Investment costs for these conversions vary by region, influenced by factors like solar intensity and labor costs. In the Asia Pacific region, such costs are relatively lower compared to Europe, attributed to cost-effective labor and abundant raw materials. Ensuring optimal performance and efficiency with bio-based diesel fuels, akin to petroleum-based alternatives, necessitates identifying and replacing engine components like seals and hoses that could be susceptible to biodiesel-induced degradation. This comprehensive approach guarantees a seamless integration of biofuels into engine systems while maintaining operational effectiveness.
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Liquid Biofuels Market Competitive Landscape
The global liquid biofuels market exhibits a diverse and evolving competitive landscape shaped by a blend of established players and emerging entrants. Competition within the market is characterized by ongoing efforts to address environmental concerns, energy security, and regulatory mandates.
Established companies leverage their experience and technological prowess to maintain market presence, while newer entrants focus on innovative production methods and feedstock sourcing to carve a niche. Partnerships between biofuel producers, agricultural entities, and research institutions are fostering collaborative advancements in feedstock cultivation, conversion processes, and supply chain optimization. Differentiated biofuel offerings, such as advanced biofuels derived from non-food feedstocks, contribute to market diversity, and align with sustainability objectives.
As research and development continue to unlock new pathways for biofuel production, the competitive landscape is poised for further transformation, as industry participants strive to align their strategies with the evolving energy landscape and demand for cleaner fuel alternatives.
Liquid Biofuels Market Top Player’s Company Profiles
- Bunge North America Inc. (US)
- POET (US)
- Enerkem (Canada)
- Renewable Biofuels Inc. (US)
- Renewable Energy Group, Inc. (US)
- CropEnergies AG (Germany)
- Fulcrum BioEnergy, Inc. (US)
- Algenol (US)
- Emami Agrotech Limited (India)
- Bangchak Corporation Public Company Limited (Thailand)
- Eniven Group (Slovakia)
- BIO OILS ENERGY (Spain)
- Gevo, Inc. (US)
- Butamax Advanced Biofuels, LLC (US)
- Raízen (Brazil)
- Archer Daniels Midland (ADM) (US)
- Neste Corporation (Finland)
- Wilmar International (Singapore)
- Abengoa Bioenergía (Spain)
Liquid Biofuels Market Recent Developments
- On 13 January 2022, Renewable Energy Group, Inc. (REG) announced that it had acquired the remaining 50% ownership stake in Petrotec AG, a leading supplier of renewable diesel to the Swiss market. The acquisition was aimed at expanding REG's presence in the European market and increasing its production capacity for renewable fuels.
- On 21 June 2021, Neste announced that it had signed an agreement with Bunge Loders Croklaan for the supply of renewable diesel produced from 100% waste and residue raw materials. The agreement was aimed at meeting the increasing demand for sustainable and low-emission fuels in Europe.
Liquid Biofuels Key Market Trends
- Advanced Biofuels Development: A significant trend in the global liquid biofuels market is the rapid advancement of technology and research in the production of advanced biofuels. These next-generation biofuels, often derived from non-food feedstocks such as algae, waste biomass, and cellulosic materials, offer enhanced sustainability and reduced competition with food production. The development of advanced biofuels aims to overcome challenges associated with conventional biofuels, such as land-use conflicts and indirect land-use change. This trend is driven by increasing regulatory mandates for cleaner fuels, coupled with a growing emphasis on reducing carbon emissions.
Liquid Biofuels Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global Liquid biofuels market analysis, the market reveals a multifaceted landscape shaped by a complex interplay of environmental concerns, energy security, policy frameworks, and technological innovation. As countries worldwide strive to reduce carbon emissions and transition towards more sustainable energy sources, liquid biofuels have emerged as a crucial component in the broader renewable energy strategy.
Regulatory mandates and incentives to increase the use of biofuels in transportation and industries drive market growth. The market is characterized by ongoing efforts to enhance production efficiency, diversify feedstock sources, and reduce costs through technological advancements.
However, challenges related to feedstock availability, land-use conflicts, and the potential impact on food supply persist. The pursuit of advanced biofuels, derived from non-food sources, is gaining momentum to address these concerns. Collaborative partnerships between biofuel producers, research institutions, and governments play a pivotal role in driving innovation and overcoming obstacles.
As the global emphasis on cleaner energy intensifies, the liquid biofuels market is expected to play a pivotal role in shaping a more sustainable and diversified energy future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 76.32 Billion |
| Market size value in 2031 | USD 134.52 Billion |
| Growth Rate | 6.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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 |
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| 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 Liquid Biofuels 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 Liquid Biofuels 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 Liquid Biofuels 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 Liquid Biofuels 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 Liquid Biofuels Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Liquid Biofuels 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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