The global Liquid Biofuels Market Size is projected to reach USD 219.97 billion by 2027, exhibiting a CAGR of 8.4% during the forecast period. The Renewable Energy Directive (RED) II set by the EU Council and the European Parliament mandates that 6.8% of transportation fuels must be derived from renewable sources such as biofuels and renewable electricity generation. This will aid the EU’s efforts towards achieving the goal of 20% of the energy mix by 2020. There is a growing need for energy security in developing countries such as India and China. Thus, any disturbance in the supply chain of petroleum or an increase in petrol prices can have a negative impact on the growth of their economy. Indigenously produced biofuels are the best solution and they are being increasingly considered as one of the most efficient options to partially substitute petroleum and reduce dependence on crude oil imports.
The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other Liquid Biofuels Market trends. The report is available for sale on the company website.
The US Environment Protection Agency (EPA) estimates that on-road automobiles cause 75% of carbon monoxide pollution in the country. The European Parliament has also stated that 72% of the EU’s carbon emissions come from road transport. To address the issues surrounding escalating air pollution levels, Liquid Biofuels such as ethanol and biodiesel have emerged as the most viable and feasible substitutes for conventional fossil fuels such as petrol. Governments around the world are actively promoting the adoption of biofuels for transport activities as the carbon-based fuels carry heavy environmental as well as human health costs.
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“Production Capacity Elevation Measures to be Implemented by Market Players”
Competition in the Liquid Biofuels market is characterized by the variety of strategies implemented by the players to consolidate their position in this market. Prominent among these are the measures adopted by these companies to enhance their production capabilities to meet the rising demand for biofuels around the world.
May 2020: Canada-based BC Hemp Corporation announced its plans to construct a biofuel plant in Prince George, British Columbia for an estimated value of USD 2 billion. Employing close to 2500 people, the plant will be utilized for producing industrial-grade ethanol from hemp stock.
February 2020: Italy-based NextChem joined forces with US-based Saola Energy to produce renewable diesel from residual fats and vegetable oils. Saola will employ its hydro-treatment and isomerization technologies to produce renewable diesel, while NextChem will provide clients engineering, construction, and training services under the partnership.
List of Key Players Profiled in this Market Report:
- Butamax Advanced Biofuels, LLC (U.S.)
- Gevo, Inc. (U.S.)
- Eniven Group (Slovakia)
- Emami Agrotech Limited (India)
- Fulcrum BioEnergy, Inc. (U.S.)
- Renewable Energy Group, Inc. (U.S.)
- Enerkem (Canada)
- ADM (U.S.)
- Pacific Ethanol, Inc. (U.S.)
- BIO OILS ENERGY (Spain)
- Bangchak Corporation Public Company Limited (Thailand)
- Algenol (U.S.)
- CropEnergies AG (Germany)
- Renewable Biofuels Inc. (U.S.)
- POET (U.S.)
Regional Analysis for Liquid Biofuels Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Liquid Biofuels Market:
- Executive Summary
- Market Dynamics
- Key Liquid Biofuels Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2027
- North America Market Analysis, Insights and Forecast, 2015-2027
- Europe Market Analysis, Insights and Forecast, 2015-2027
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2027
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2027
- Latin America Market Analysis, Insights and Forecast, 2015-2027
- Competitive Landscape
- Global Liquid Biofuels Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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