Zion Market Research has published a new report titled “Biofuels Market Analysis by Type (Bioethanol, Biodiesel), and by Form (Solid, Liquid, and Gaseous) – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global biofuel market was valued at USD 168 billion in 2016, is expected to reach USD 218.7 billion in 2022 and is anticipated to grow at a CAGR of 4.5% between 2017 and 2022.
Biofuel is an economically important and versatile vegetable oil used as a raw material for both food and nonfood products. Biofuel is most widely used vegetable oil in the world and is found in supermarkets ranging from sweets, baked goods, margarine, cereals, washing powders, and cosmetics. Biofuel is also used as a first-generation fuel. It is also used in preventing vitamin A deficiency, cancer, brain disease, aging; and treating malaria, high blood pressure, high cholesterol, and cyanide poisoning. Most biofuels are produced in Asia, Africa, and South America because the trees require warm temperatures, sunlight and plenty of rain in order to maximize crop production.
Browse through 23 Market Tables and 21 Figures spread through 110 Pages and in-depth TOC on “Global Biofuels Market Study: By Type, Form, Size, Growth, Analysis and Forecast 2016 – 2022”.
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Biofuels are the fuels produced from metabolic by-products such as organic and food waste products or from living organisms. Biofuels are solid, liquid or gaseous fuel derived from biomass, living organisms or their metabolic by-products like manure from cows. Biofuels originally come from the sun captured through photosynthesis by the plants which are used as feedstock for biofuel production and is stored in the plant’s cells. For manufacturing of biofuels various plants and plant derived materials are used like, natural oils from plants, wood and it’s by products sugar crops, and waste from industry, agriculture, forestry, and households.
Biofuels are significantly gaining attention globally as substitutes for petroleum-derived transportation fuels so as to help energy security, energy cost and global warming concerns linked with fossil fuels. Biofuels can contain relatively familiar ones, such as diesel-like fuel made from soybean oil or ethanol made from sugar cane to less familiar fuels like dimethyl ether (DME) or Fischer-Tropsch liquids (FTL) made from lignocellulosic biomass.
Browse the full “Biofuels Market by Type (Bioethanol and Biodiesel), and by Form – Solid (Biocoal, Biochar), Fuel Pellets Liquid (Biodiesel and Bioethanol), and Gaseous (Biogas, Biopropane, and Syngas) – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022” report at https://www.zionmarketresearch.com/report/biofuels-market
The Biofuels market has grown at a rapid pace over the past few years and is witnessing stupendous growth during the forecast period. The market for biofuels is driven by a number of factors, such as stringent environmental regulations promoting the use of biofuels, and need for economic development. However, hurdles related to distribution, development and retailing of fuels may adversely hamper the growth of the market.
Global biofuels market has been segmented on the basis of type, form, and region. On the basis of type, biofuels market is classified into bioethanol and biodiesel. Bioethanol segment dominated the overall market in 2016 owing to growing applications in wide range of industrial applications, in the pharmaceutical sector, the chemical industry, and as a fuel. On the basis of form, the market is characterized into liquid, solid, and gaseous.
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Geographically, biofuels market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America biofuels market dominated the overall market in 2016and is likely to account for the leading share of the revenue during the years to come. The rising awareness about the advantages of biofuels on conventional fuels and strict policies and regulations pertaining to the environment with environmental issues among the public are contributing to the growth of the region. North America will be followed by Europe, whose development will be governed by similar factors.
Key players in biofuels market are Copersucar S.A DSM, Green Plains Inc., Aemetis Inc, Western Dubuque Biodiesel LLC, Solazyme Inc., Renewable Energy Group, Raizen Energia Participacoes S.A, BlueFire Renewables, Aventine Renewable Energy Holdings, Inc. (AVRW), and Australian Renewable Fuels Ltd. among others.
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The report segments the global biofuels market as:
Global Biofuels Market: Type Analysis
Global Biofuels Market: Form Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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