Bio Fuel Global Market – Overview
The global bio fuel market is expected to witness substantial growth during the forecast period. Increasing pollution levels is a major factor driving the growth of the global bio fuel market. Waste from human consumption is growing and is a major concern for governments across the globe, this is another major driver for the global bio fuel market. Declining oil & gas reserves is a problem faced by all nations and in order to develop sustainably renewable energy sources such as bio fuels need to be harnessed. Bio fuels are produced by biological processes including anaerobic digestion and agriculture. Bio fuels can be developed from energy crops or waste produced commercially and residentially. Bio fuels do not generate additional carbon dioxide when used, they only release the amount of gas initially absorbed, hence are carbon neutral.
The global Bio Fuel Market is segmented on the based fuel type, feedstock and application. Based on type, the market is segmented as bio-diesel, ethanol and others. Here, others include fuels like methanol, propanol, biogas, and butanol. Bio-diesels are mostly animal fat oil or vegetable oil consisting of long alkyl esters. Bio-diesels can be mixed with petro-diesel in various proportions and can be used as a heating oil. Based on feedstock, the market is segmented as corn, sugarcane, vegetable oil and others. Ethanol can be produced from corn by distillation or fermentation. Production of ethanol in the US is mainly from corn. Based on application, the market is further segmented as transportation, power generation and others. Transportation sector is estimated to have a major share of the global bio fuel market during the forecast period.
Geographically, the global bio fuel market has been segmented into North America, Europe, Asia Pacific and Rest of the World. The phenomenal growth in the global energy consumption has boosted the demand for renewable energy sources such as bio fuels. North America is expected to hold the largest market share of the global bio fuel market during the forecast period and is followed by Europe. The growth in the transport energy is also estimated to have a substantial impact on the global bio fuel market.
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Bio Fuel Global Market – Competitive Analysis
The global market for bio fuel is presently in growing at a steady rate. To maintain the market position and to drive the market growth, all the key players are involved in new project development to expand their product diversity and increase their customer base. Market leaders are relying on innovation to stay ahead in the global market. They are investing heavily on research and development to increase their cost-effective cost offering.
Industry Top Key Players:-
- Poet LLC
- Archer Daniels Midland Company
- Flint Hill resources
- The Andersons Inc
- Blue Fire Renewables
- Abengoa Bioenergy
In July, 2018 – Archer Daniels Midland Company announced the acquisition of Rodelle Inc, the acquisition will increase the products offered by the company and increase the revenues generated.
In November, 2017 – Copersucar and BP Biofuels announced the formation of a joint venture to own and operate a major ethanol storage terminal in Brazil, which will improve connection between ethanol producers and the countries main fuel market.
In October, 2014 – Blue Fire Renewables signed EPC contract with China Three Gorges Corporation to build a MS cellulosic ethanol facility.
Bio Fuel Global Market – Segmentation
The scope of global bio fuel market is segmented into three major segments which are explained below:
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- Vegetable oil
- Power generation
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