Global Bio Fuels Market – Overview
The non toxic nature of bio fuels has promoted their growth drastically in the past few years. Market Research Future, a firm which specializes in market reports related to the Energy and Power sector among others, published in its recent report on Global Bio Fuels Market Research Report – Forecast to 2023 that the Bio fuels market is expected to grow by a CAGR of 5.7 % during the forecast period while achieving significant rise in revenue generated.
As the continual availability of natural fuels cannot be guaranteed owing to limited resources, there has been a significant boost in the demand for bio fuels. Since they can be easily synthesized from naturally available resources and do not have harmful by products from their production processes, they are demanded intensely by their user sectors. The automobile sector is estimated to be one of the most prominent users of this sector. Toxic emissions from various types of transport are also significantly reduced due to the use of bio fuels which has further created more users for this market. The use of bio fuel blend has been made compulsory in quite a lot of countries as they also qualify for carbon credits which have also spurred demand for this market.
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Latest Industry News:
Dec 2017 Sodra and Statkraft have decided to invest in a biofuel demo facility. The investment will be made through the joint company Silva Green Fuel AS. The Danish-Canadian company Steeper Energy will deliver the technology. Construction will start in February next year and completion is scheduled for 2019. Enova will finance around 25 percent. The total investment will be approximately SEK 500 million ($59 million).Statkraft is championing this industry development as it will contribute to the green shift.
Dec 2017 Brazil’s Senate approved a bill this month creating a national biofuels policy, RenovaBio, to increase use of biodiesel and ethanol, in addition to other biofuels. RenovaBio is a state policy that aims to recognize the strategic role of all types of biofuels in the national energy matrix, both for energy security and for reducing greenhouse gas (GHG) emissions.
Nov 2017 The Federal Government through the Australian Renewable Energy Agency (ARENA) has announced $11.9 million in funding for Australian bio fuel company Ethanol Technologies Limited (Ethtec) to assist in the development of its ground-breaking process. The facility produces ethanol from a range of waste plant matter left over from crop harvesting and forestry. As part of a $48 million dollar project, Ethtec plans to construct a $30 million purpose-built pilot facility in the Hunter Valley town of Muswellbrook, expected to produce 270,000 liters of bio fuel per annum with the aim of making the technology available to the commercial market in five years’ time.
Nov 2017 Cargill will build a $90 million biodiesel plant in Wichita, Kansas, where it’s also building a new headquarters for its protein division. Minnetonka-based Cargill expects the 42,000-square-foot facility to open in January 2019. Located in an industrial area of the city, it’s expected to have 35 full-time employees. Cargill already has Midwest biodiesel facilities in Kansas City, Mo., and Iowa Falls, Iowa. The Wichita plant is expected to produce 60 million gallons of biodiesel annually.
Dec 2017 The Brazilian Agency of Petroleum, Natural Gas and Biofuels (ANP) announced recently that 713.4 million litres (188.4m gallons) have been contracted in the 58th biodiesel auction. Brazil’s biodiesel auctions are designed to meet the legal requirement for the 8% minimum blend of biodiesel in diesel sold at the pump. The 58th auction will ensure the biofuel supply in the domestic market from January 1 to February 28, 2018.
Global Bio Fuels Market – Competitive Analysis
With the entry of new industry players in the global bio fuels segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The key players of Global Bio Fuels Market are Archer Daniels Midland Company (U.S.), Aceites Manuelita S.A.( Colombia ), Abengoa Bioenergy, Inc.(Spain), INEOS Group AG (U.K.), Neste Corporation (Finland). Few of the other prominent players include Renewable Energy Group, Inc (U.S.), BlueFire Renewables (U.S.), Cosan S.A. Indústria E Comércio (Brasil), Infinita Renovables SA (Spain) and BioWanze SA (Belgium).
Global Bio Fuels Market – Segments
Global Bio Fuels Market has been segmented into categories of fuel type, feedstock type, application, composition and region.
On The Basis Of Fuel Type: Bio Diesel and Ethanol
On The Basis Of Feedstock Type: Biodiesel Feedstock, Ethanol Feedstock
On The Basis Of Application: Transportation, Power Generation and Others
On The Basis Of Composition: Starch Feedstock’s, Sugar Feedstock, Lignocellulosic Feedstock and Miscellaneous Feedstock
On The Basis Of Region: North America, Europe, Asia-Pacific, Middle East & Africa and Latin America
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Global Bio Fuels Market – Regional Analysis
The bio fuel market is gaining importance because of the swift economic development around the world and strict environmental regulations that enable the use of bio fuels. In recent years, the bio fuels market has seen rapid development in cellulosic and algae bio fuel technology. These technologies majorly involve the use of feedstock such as grass, corn stover, and algae for the bio ethanol and bio diesel production.
The market is predominantly driven by the use of bio fuels in the transportation and aviation sectors. Because of this, the major automobile and aviation manufacturers are coming up with biofuel compatible engines and power trains. The market is driven by the favorable regulations and policies in the North American and the European regions. Constant investment in research and development of bio fuels and increased focus to commercialize bio fuels in these regions is driving this trend. The Asia-Pacific region is expected to see major growth because of countries such as China and India, which are growing as prime consumers of bio fuels especially ethanol.
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