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 2024-2031

Report ID: SQMIG10E2016 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 119 | Figures: 77

Liquid Biofuels Market News

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 Market Report Snapshots

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Liquid Biofuels Market size was valued at USD 76.32 Billion in 2022 and is poised to grow from USD 81.28 Billion in 2023 to USD 134.52 Billion by 2031, at a CAGR of 6.5% during the forecast period (2024-2031).

The 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. '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)', 'Pacific Ethanol, Inc. (US)', 'Butamax Advanced Biofuels, LLC (US)', 'Raízen (Brazil)', 'Archer Daniels Midland (ADM) (US)', 'Neste Corporation (Finland)', 'Wilmar International (Singapore)', 'Abengoa Bioenergía (Spain)'

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 movement toward sustainable energy solutions.

Advanced Biofuels Development: A significant trend in the 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.

North America and Europe have historically held dominant positions in the 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.

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