Summary

Biofuels Market Research Report Information By Fuel Type (HVO, SAF AND Conventional Biodiesel) By Application (Transportation, Aviation, Energy Generation, Heating and Others) and By Region -Global Forecast to 2032

Market Overview

In 2023, the biofuels market was estimated to be worth USD 64480.65 million. In 2024, the Biofuels Market industry is anticipated to expand from USD 68802.15 million to USD 121911.53 million by 2032, with a compound annual growth rate (CAGR) of 7.3% over the forecast period (2024-2032). The Biofuels market has experienced substantial growth and development in recent years. The biofuels industry is primarily driven by the increasing demand for sustainable energy solutions to mitigate greenhouse gas emissions and address climate change.
To reduce carbon footprints, governments worldwide are implementing stringent environmental regulations and policies. These policies include mandates for the blend of biofuels with conventional fuels and the provision of subsidies or tax cuts for the production and consumption of biofuels. Countries have been compelled to invest significantly in renewable energy sources, including biofuels, to meet the ambitious emissions reduction targets established by the Paris Agreement and other international commitments. This legislative assistance not only encourages the adoption of biofuels but also encourages industry innovation, thereby promoting the development of more sustainable and efficient production methods.

An additional significant factor is the increasing demand for environmentally favorable products and energy sources among consumers. As individuals become more cognizant of environmental degradation and climate change, they become more concerned about their carbon footprint and seek sustainable alternatives.

Market segment insights
The Biofuels Market has been segmented into HVO, SAF, and Conventional biodiesel based on the fuel type.
Transportation, Aviation, Energy Generation, Heating, and Others comprise the Biofuels Market, which has been separated by application.

Regional Perspectives
The Biofuels market is divided into five regions: North America, Europe, Asia-Pacific, Middle East & Africa, and South America. During the forecast period, the Europe Biofuels market is anticipated to account for a substantial revenue share and maintain the highest market share. A multitude of regional-specific factors have contributed to the substantial expansion of the biofuel market in Europe. To mitigate greenhouse gas emissions, the European Union (EU) has established ambitious renewable energy objectives and stringent regulations. The Renewable Energy Directive (RED) of the European Union (EU) mandates that member states achieve a specific percentage of renewable energy in their total energy consumption. Biofuels are a critical component of achieving these objectives.
Investment in the production and utilization of biofuels in Europe is significantly encouraged by this regulatory framework. The utilization of biofuels in Europe has also been expedited by concerns regarding energy security and the reduction of dependence on imported fossil fuels. Additionally, the increase in consumer awareness and the desire for environmentally friendly transportation fuels have contributed to the adoption of biofuels in Europe. This has been achieved by diversifying their energy balance and promoting the use of renewable fuels produced domestically. Biofuels are appealing to environmentally conscious consumers and businesses that are seeking to reduce their carbon footprint and satisfy sustainability standards. This is because they have lower carbon intensity and emissions than fossil fuels. Innovation and market expansion in the European biofuel sector have been facilitated by collaboration among governments, industry actors, and research institutes.

Major Players
Major market participants, such as ADM, Cargill Incorporated, Neste, Chevron Corporation, Wilmar International Ltd, VARO Energy, BTG Bioliquids, Cepsa, VERBIO, My Eco Energy, and Others.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 KEY HIGHLIGHTS
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 OVERVIEW
3.2 DATA FLOW
3.2.1 DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
3.4.1 SECONDARY RESEARCH DATA FLOW
3.5 PRIMARY RESEARCH:
3.5.1 PRIMARY RESEARCH DATA FLOW:
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
3.6.1 CONSUMPTION & NET TRADE APPROACH
3.6.2 REVENUE ANALYSIS APPROACH
3.7 DATA FORECASTING
3.7.1 DATA FORECASTING TECHNIQUE
3.8 DATA MODELING
3.8.1 MICROECONOMIC FACTOR ANALYSIS:
3.8.2 DATA MODELING:
3.9 TEAMS AND ANALYST CONTRIBUTION
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 INCREASING NEED FOR SUSTAINABLE ENERGY SOLUTIONS
4.2.2 STRINGENT ENVIRONMENTAL REGULATIONS AND POLICIES
4.2.3 GROWING CONSUMER DEMAND FOR ENVIRONMENTALLY FRIENDLY ENERGY SOURCE
4.3 RESTRAINTS
4.3.1 HIGH PRODUCTION COSTS AND THE REQUIREMENT FOR SIGNIFICANT CAPITAL INVESTMENT
4.3.2 ENVIRONMENTAL CONSEQUENCES SUCH AS DEFORESTATION, WATER USE, AND BIODIVERSITY LOSS
4.4 OPPORTUNITY
4.4.1 WORLDWIDE COMMIT TO REDUCING CARBON EMISSIONS
4.4.2 RISING OIL PRICES AND THE VOLATILITY OF THE GLOBAL OIL MARKET
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS
5.1.1 PARTICIPANTS (AT DIFFERENT NODES)
5.1.1.1 RAW MATERIAL SUPPLIERS
5.1.1.2 MANUFACTURERS
5.1.1.3 DISTRIBUTION CHANNEL
5.1.1.4 END-USER
5.2 PORTER’S FIVE FORCES MODEL
5.2.1 BARGAINING POWER OF SUPPLIERS
5.2.2 BARGAINING POWER OF BUYERS
5.2.3 THREAT OF NEW ENTRANTS
5.2.4 THREAT OF SUBSTITUTES
5.2.5 INTENSITY OF RIVALRY
6 GLOBAL BIOFUELS MARKET, BY FUEL TYPE
6.1 INTRODUCTION
6.2 HVO
6.3 SAF
6.4 CONVENTIONAL BIODIESEL
7 GLOBAL BIOFUELS MARKET, BY APPLICATION
7.1 INTRODUCTION
7.2 TRANSPORTATION
7.3 AVIATION
7.4 ENERGY GENERATION
7.5 HEATING
7.6 OTHERS
8 GLOBAL BIOFUELS MARKET, BY REGION
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 US
8.2.2 CANADA
8.2.3 MEXICO
8.3 EUROPE
8.3.1 GERMANY
8.3.2 UK
8.3.3 FRANCE
8.3.4 RUSSIA
8.3.5 SPAIN
8.3.6 ITALY
8.3.7 NETHERLANDS
8.3.8 POLAND
8.3.9 DENMARK
8.3.10 REST OF EUROPE
8.4 ASIA PACIFIC
8.4.1 CHINA
8.4.2 JAPAN
8.4.3 INDIA
8.4.4 SOUTH KOREA
8.4.5 REST OF ASIA PACIFIC
8.5 SOUTH AMERICA
8.5.1 BRAZIL
8.5.2 ARGENTINA
8.5.3 REST OF LATIN AMERICA
8.6 MIDDLE EAST & AFRICA
8.6.1 SOUTH AFRICA
8.6.2 GCC COUNTRIES
8.6.3 TURKEY
8.6.4 REST OF THE MIDDLE EAST & AFRICA
9 COMPETITIVE LANDSCAPE
9.1 INTRODUCTION
9.2 COMPETITION DASHBOARD
9.2.1 PRODUCT PORTFOLIO
9.2.2 REGIONAL PRESENCE
9.2.3 STRATEGIC ALLIANCE
9.2.4 INDUSTRY EXPERIENCE
9.3 WHAT STRATEGIES ARE BEING ADOPTED BY MARKET LEADERS
10 COMPANY PROFILES
10.1 ADM
10.1.1 COMPANY OVERVIEW
10.1.2 FINANCIAL OVERVIEW
10.1.3 PRODUCTS OFFERED
10.1.4 KEY DEVELOPMENTS
10.1.5 SWOT ANALYSIS
10.1.6 KEY STRATEGY
10.2 CARGILL, INCORPORATED
10.2.1 COMPANY OVERVIEW
10.2.2 FINANCIAL OVERVIEW
10.2.3 PRODUCTS OFFERED
10.2.4 KEY DEVELOPMENTS
10.2.5 SWOT ANALYSIS
10.2.6 KEY STRATEGY
10.3 NESTE
10.3.1 COMPANY OVERVIEW
10.3.2 PRODUCTS OFFERED
10.3.3 KEY DEVELOPMENTS
10.3.4 KEY STRATEGY
10.4 CHEVRON CORPORATION
10.4.1 COMPANY OVERVIEW
10.4.2 FINANCIAL OVERVIEW
10.4.3 PRODUCTS OFFERED
10.4.4 KEY DEVELOPMENTS
10.4.5 SWOT ANALYSIS
10.4.6 KEY STRATEGY
10.5 WILMAR INTERNATIONAL LTD
10.5.1 COMPANY OVERVIEW
10.5.2 FINANCIAL OVERVIEW
10.5.3 PRODUCTS OFFERED
10.5.4 KEY DEVELOPMENTS
10.5.5 SWOT ANALYSIS 107
10.5.6 KEY STRATEGY
10.6 VARO ENERGY
10.6.1 COMPANY OVERVIEW
10.6.2 FINANCIAL OVERVIEW
10.6.3 PRODUCTS OFFERED
10.6.4 KEY DEVELOPMENTS
10.6.5 SWOT ANALYSIS
10.6.6 KEY STRATEGY
10.7 BTG BIOLIQUIDS
10.7.1 COMPANY OVERVIEW
10.7.2 FINANCIAL OVERVIEW
10.7.3 PRODUCTS OFFERED
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGY
10.8 CEPSA
10.8.1 COMPANY OVERVIEW
10.8.2 FINANCIAL OVERVIEW
10.8.3 PRODUCTS OFFERED
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGY
10.9 VERBIO
10.9.1 COMPANY OVERVIEW
10.9.2 FINANCIAL OVERVIEW
10.9.3 PRODUCTS OFFERED
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGY
10.10 MY ECO ENERGY
10.10.1 COMPANY OVERVIEW
10.10.2 FINANCIAL OVERVIEW
10.10.3 PRODUCTS OFFERED
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGY
10.11 RELATED REPORTS