The global biofuels market was estimated at USD 139.8 billion in 2021 and it is expected to surpass around USD 248.97 billion by 2030, poised to grow at a CAGR of 6.62% from 2022 to 2030.
Report Highlights
Rising environmental concerns and increase in various government policies by countries around the world to form regulations for the blending of biofuel has turned to be the key driver in broadening the market for biofuels.
Globally, increase in the demand for biofuel with addition to raising concerns for the energy security is likely to drive the market over the upcoming year. North America and European Union have formed a market by introducing new energy policies which stipulates the required rate to incorporate biofuels in petroleum products.
Few of the market leaders such as Green Plains Inc. and Biodico, Inc. are vertically integrated. Hence providing the companies an advantage in the procurement of raw material and distribution; thus, helping it to achieve various economies of scale. Some market leaders including Gevo Inc. and Wilmar International are repeatedly strengthening their core capabilities in the fields of supply chain management, operational excellence, and project execution.
However, raw material utilized for producing of biofuels are majorly agricultural crops such as corn and sugarcane. Further, large scale development of biofuels from agricultural crops poses a threat to food security and can affect availability of food products manufactured from these agricultural crops. These factors are expected to hinder the growth of the market during the forecast period.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 139.8 billion |
| Revenue Forecast by 2030 | USD 248.97 billion |
| Growth rate from 2022 to 2030 | CAGR of 6.62% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Form, region |
| Companies Covered |
Bunge Limited; Archer Daniels Midland Company; Valero Energy Corp.; Petrobras; Butamax; Renewable Energy Corp.; Wilmar International; Algenol; Pacific Ethanol Inc. |
Form Insights
The liquid biofuel form segment held the largest revenue share of 73.4% in 2021 owing to rising focus towards energy security and application of liquid biofuels in flexible-fuel vehicles. In addition, bioethanol blending mandates set in various countries has driven the utilization of liquid biofuels.
Solid biofuels include products such as wood pellets, agriculture, and crop residues. Liquid form of these fuels includes products such as bioethanol and biodiesel whereas gaseous form includes products such as biogas and biohydrogen.
The solid biofuel form segment emerged as the fastest-growing segment with a revenue-based CAGR 8.7% in the biofuels market during the forecast period. The growth is attributed to rise in adoption and deployment of biomass power for electricity generation. In addition, solid biofuels are also emerging as a green alternative for space heating in residential and commercial buildings as compared to available conventional fossil fuels.
The gaseous biofuel form segment was the second-largest segment of the market in 2021 owing to rise in adoption of gaseous biofuels in applications such as transportation fuel and electricity generation. Further, the gaseous form is being utilized for cooking as it is a greener substitute over liquid petroleum gas.
Regional Insights
North America held the largest market share of 39.77%, in terms of revenue, in 2021 owing to the presence of large amount of feedstock for biofuel production. Presence of supporting infrastructure for the production and favorable government policies for the utilization of these fuels in the region will result in growth of the market in the region.
Major growth is likely to be driven by Brazil, the U.S., China, and the European Union. However, other countries have been projected to grow significantly in the industry i.e., India, Thailand, Netherlands, Canada, and Indonesia on account of a rise in awareness to curb carbon emissions and to enhance the utilization of the fuels.
Further, Canadian Clean Fuels Standard (CFS) is anticipated to apply various norms for gaseous, liquid, and solid biofuels that are combusted for energy production in the transportation sector. The government of Canada has been concentrating on annual decreases by 30 Mt in GHG emissions by 2030 that contributes in the country’s efforts to accomplish an overall 30.0% reduction in GHG emissions by 2030.
In Asia Pacific, the market is expected to witness the highest volume-based CAGR of 7.6% in the forecast period as compared to other regions. Introduction and rise in the adoption of biofuel supporting policies and regulations in countries such as China, Indonesia, Australia, and India are expected to boost the demand for biofuels majorly in the transportation sector in form blending with conventional fossil fuels.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1.Research Objective
1.2.Scope of the Study
1.3.Definition
Chapter 2. Research Methodology
2.1.Research Approach
2.2.Data Sources
2.3.Assumptions & Limitations
Chapter 3. Executive Summary
3.1.Market Snapshot
Chapter 4. Market Variables and Scope
4.1.Introduction
4.2.Market Classification and Scope
4.3.Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5.COVID 19 Impact on Biofuels Market
5.1. COVID-19 Landscape: Biofuels Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4.Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1.Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2.Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1.List of Suppliers
7.1.3.2.List of Buyers
Chapter 8. Global Biofuels Market, By Form
8.1.Biofuels Market, by Form Type, 2020-2027
8.1.1. Solid Biofuel
8.1.1.1.Market Revenue and Forecast (2016-2027)
8.1.2. Liquid Biofuel
8.1.2.1.Market Revenue and Forecast (2016-2027)
8.1.3. Gaseous Biofuel
8.1.3.1.Market Revenue and Forecast (2016-2027)
Chapter 9. Global Biofuels Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.1.2. Market Revenue and Forecast, by End-use (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.1.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.1.4.2. Market Revenue and Forecast, by End-use (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.2.2. Market Revenue and Forecast, by End-use (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.2.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.2.4.2. Market Revenue and Forecast, by End-use (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.2.5.2. Market Revenue and Forecast, by End-use (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.2.6.2. Market Revenue and Forecast, by End-use (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.3.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.3.4.2. Market Revenue and Forecast, by End-use (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.3.5.2. Market Revenue and Forecast, by End-use (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.3.6.2. Market Revenue and Forecast, by End-use (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.4.2. Market Revenue and Forecast, by End-use (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.4.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.4.4.2. Market Revenue and Forecast, by End-use (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.4.5.2. Market Revenue and Forecast, by End-use (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.4.6.2. Market Revenue and Forecast, by End-use (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.5.2. Market Revenue and Forecast, by End-use (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.5.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Connectivity (2017-2030)
9.5.4.2. Market Revenue and Forecast, by End-use (2017-2030)
Chapter 10.Company Profiles
10.1.Bunge Limited
10.1.1.Company Overview
10.1.2.Product Offerings
10.1.3.Financial Performance
10.1.4.Recent Initiatives
10.2.Archer Daniels Midland Company
10.2.1.Company Overview
10.2.2.Product Offerings
10.2.3.Financial Performance
10.2.4.Recent Initiatives
10.3.Valero Energy Corp.
10.3.1.Company Overview
10.3.2.Product Offerings
10.3.3.Financial Performance
10.3.4.Recent Initiatives
10.4.Petrobras
10.4.1.Company Overview
10.4.2.Product Offerings
10.4.3.Financial Performance
10.4.4.Recent Initiatives
10.5.Butamax
10.5.1.Company Overview
10.5.2.Product Offerings
10.5.3.Financial Performance
10.5.4.Recent Initiatives
10.6.Renewable Energy Corp.
10.6.1.Company Overview
10.6.2.Product Offerings
10.6.3.Financial Performance
10.6.4.Recent Initiatives
10.7.Wilmar International
10.7.1.Company Overview
10.7.2.Product Offerings
10.7.3.Financial Performance
10.7.4.Recent Initiatives
10.8.Algenol
10.8.1.Company Overview
10.8.2.Product Offerings
10.8.3.Financial Performance
10.8.4.Recent Initiatives
10.9.Pacific Ethanol Inc.
10.9.1.Company Overview
10.9.2.Product Offerings
10.9.3.Financial Performance
10.9.4.Recent Initiatives
Chapter 11.Research Methodology
11.1.Primary Research
11.2.Secondary Research
11.3.Assumptions
Chapter 12.Appendix
12.1.About Us
12.2.Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers