Pune, India, December, 2017/MRFR Press Release/- Market Research Future published a Half Cooked Research report on “Global Bio Fuels Market Research Report - Forecast to 2023 ”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Global Bio Fuels Market - Overview
The biofuel is a liquid fuel that is extracted from biological materials such as trees, crops, animal matter and agricultural wastes. They are typically produced from carbon sources that can be replenished rapidly. Bio fuels do not emit any toxic materials such as sulfur on combustion and produce very less carbon monoxides. Bio fuels are typically used as substitutes for conventional fossil fuels such as petroleum, coal and natural gas.
According to a recent study report published by the Market Research Future, The global market of Bio Fuels is booming and expected to gain prominence over the forecast period. The Global Bio Fuels market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, double digit CAGR of 5.7% during the estimated period (2017 – 2023).
Increasing government support for biofuel development through programs, policies and regulations driving the growth of the market. Depletion of fossil fuels also leads to the requirement of renewable biofuels. Increasing the use of biofuels as vehicle fuel source across the globe also provide boost to the growth of the market. However, uncertain feed stock prices and yield and capital intensiveness of the project may restrict the growth of the market.
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Key Players:
Archer Daniels Midland Company (U.S.), Aceites Manuelita S.A.( Colombia ), Abengoa Bioenergy, Inc.(Spain), INEOS Group AG (U.K.), Neste Corporation (Finland), 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) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Bio Fuels Market.
Global Bio Fuels Market - Competitive Analysis
Global Bio Fuels Market appears to be highly fragmented and competitive owning to the presence of numerous large and medium players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Bio Fuels manufacturers strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Bio Fuels for every application.
Industry News
In September 2017, Cargill has announced the plans to build a state-of-the-art USD 90 million biodiesel plant in Wichita, Kansas. Set to open January 2019, it will produce 60 million gallons of biodiesel annually. Opening the facility in Wichita will strengthen Cargill's biodiesel operations in the heart of the Midwest where it already has biodiesel plants in Iowa Falls, Iowa, and Kansas City, Missouri.
In March, 2017, Cepsa completes the acquisition of the abengoa biofuel plant in San Roque.
In June 2016, Canada-headed biodiesel producer and process technology developer Biox Corp., and US-headed World Energy has entered into a joint venture (JV) to acquire and operate a biodiesel facility in Houston, Texas. This JV aims to acquire the 90 million US-gallon (≈341 million litres) per annum facility formerly known as Green Earth Fuels.
Bio Fuels Market - Segmentation
Global Bio Fuels Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.
Segmentation:
On the basis of fuel type, market is segmented into Bio Diesel and Ethanol. Ethanol dominates fuel type segment of the market. Bioethanol is a renewable fuel and can be produced using various feedstock. The presence of a high number of ethanol mandates compared to biodiesel mandates results in the increased production of ethanol.
On the basis of feedstock type, market is segmented into Biodiesel Feedstock, Ethanol Feedstock. The biodiesel feedstock includes palm oil, soya beans, rapeseed, and others. It is largely dependent on the geographical, climatic, and agricultural conditions of a region.
On the basis of Composition, market is segmented into Starch Feedstock’s, Sugar Feedstock, Lignocellulosic Feedstock and Miscellaneous Feedstock.
Based on Application segment the market is segmented into Transportation, Power Generation and Others. Rising use of biodiesel in the fuel and power generation application segments have led to an increased demand for biodiesel, globally.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Bio Fuels Market - Regional Analysis
North America and Europe are the major region for the Bio Fuels Market. Favorable regulations and policies driving the growth of the market in these regions. In Europe, Germany, Netherlands, and France are major contributors for the growth of the market. These regions are expected to contribute significantly during the forecast period. U.S. is the home of major biodiesel producers such as Archer Daniels Midland Company, Bunge Limited, Renewable Energy Group, Cargill Inc. This also has the positive impact on the growth of the market in the region.
Asia-Pacific is expected to witness the highest growth during the forecast period. China, India, Japan, Australia and Indonesia are among the major markets for Bio Fuels in the Asia Pacific region. Increasing demand for biofuels in the transportation industry driving the growth of the market.
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Report details
| Base Year | 2017 |
| Companies Covered | 15 |
| Pages | 128 |
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