Bio Fuel preceving high demand all over the world. This is the primary reason why experts of this market believe that bio fuels market will expand tremendously during the projection period. The revenue turnover figures look pretty promising and the approximate CAGR for this term will be 5.7%.
The automobile plays an important role in displacing fossil fuels and is a cleaner and renewable alternative. Also, the use of biofuels in fuel mix reduces toxic emissions from transport sector and helps achieve climate change targets. Furthermore, the biofuel blend has a very positive impact on improving the air quality and reduce particulate emissions. This in turn will improve health standards and can have positive impacts on the environment. The use of biofuel blend has been made mandatory in several countries as they also qualify for carbon credits.
April 16, 2018 – Red Rock Biofuels a major player in this market recently declared that it will be starting the construction process on a new plant in south-central Oregon. This facility is anticipated to annually convert around 136,000 tons of woody bio mass and forest bi-products into 15 million gallons of renewable fuels.
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Market Players & Growth Strategies:-
To have a profitable business, these players are required to keep updating themselves with the ongoing industry trends. Additionally, they also happen to utilize various strategies like acquisition, new product development and partnerships with other organizations.
Bio fuels market has been a major business hub for several stakeholders as it is progressing at a rapid pace. Some of the oldest and most efficient players in this market can be listed as Infinita Renovables SA, Renewable Energy Group, Inc., Cosan S.A. Industria E Comercio and INEOS Group AG.
Major Point of Virtual Power Plant Market TOC:-
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Biofuel Market, By Fuel Type
5 Global Biofuel Market, By Application
5.3. Power Generation
6 Global Biofuel Market, By Feedstock Type
6.2. Bio-Diesel Feedstock
6.3. Ethanol Feedstock
7 Global Biofuel Market, By Composition Type
7.1 Starch Feedstock
7.2 Sugar Feedstock
7.3 Lingnocellulosic Feedstock
7.4 Miscellaneous Feedstock
To be continued……..
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The Asia Pacific region is led by China, India and Malaysia. China and India have large land resources which can be diverted to biofuels. The Middle East and Africa region is expected to reflect moderate growth owing to large fossil fuels resources and lower cost of fossil fuels.
Europe dominates the global bio fuels market owing to strong support from the government and it being an early adopter. Germany followed by France are the leading markets of bio fuels in Europe. Other European nations with a large market include Spain, U.K. and Sweden.
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