Biofuels are produced using biomaterials like microorganisms, livestock, plants and starch. Driven by fluctuating petroleum prices and government regulations supporting the adoption of bio-based fuel alternatives, the global biofuel and biodiesel market is expected to progress with 5.48% CAGR over the forecast years of 2018-2026.
The global biofuel and biodiesel market is segmented according to the type of biofuels and feedstocks. The different types of biofuels available in the market include vegetable oil, biogas, cellulosic ethanol, bio-alcohols, biobutanol, biodiesel, bio DME and other types of biofuels. The feedstock segment of the market includes Syngas/biomass/MSW, lignocellulose, algae, oil & fats, sugar & starches, and other feedstocks.
The geographical segmentation of the market is done into Asia Pacific, Europe, North America and rest of world markets. The Asia-Pacific region is expected to be the fastest growing regional market. Major countries contributing to the market growth are Singapore, China, Thailand, Indonesia, etc. The region is an abundant source of raw materials, cheap labours, and has a high number of end-users. However, the North American market is expected to withhold its strong position throughout the forecast period. A major contributor to this region is the U.S, which enjoys healthy government support, and is engaged in extensive R&D concerning biofuel generation.
Noted players in the global biofuel and biodiesel market are Algenol Biofuels, Abengoa Bioenergy, Air Liquide Sa, Blue Fire Renewables, Pacific Ethanol, Inc, Clariant Se, Fiberight Llc, Dupont Industrial Biosciences, Granbio, Novozymes A/S, Inbicon, Poet-Dsm Advanced Biofuels Llc, Petrobras, Renewable Energy Group, and Zeachem Inc.