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The global biofuels market size reached USD 154.76 Billion in 2021 and is expected to register a revenue CAGR of 7.0% during the forecast period, according to the latest analysis by Emergen Research. Biofuels burn cleaner than gasoline and result in low carbon emissions, therefore, their use in transport results in fewer greenhouse gas emissions. This factor is driving biofuel market revenue growth.
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www.emergenresearch.com Biofuels Market Size Worth USD 284.35 Billion in 2030 Rising demand for reduced carbon-emitting fuels and advancements in algae-based biofuel generation are factors driving biofuels market revenue growth
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Market Summary The Global Biofuels Market size reached USD 154.76 Billion in 2021 and is expected to register a revenue CAGR of 7.0% during the forecast period, according to the latest analysis by Emergen Research. Biofuels burn cleaner than gasoline and result in low carbon emissions, therefore, their use in transport results in fewer greenhouse gas emissions. This factor is driving biofuel market revenue growth. Biofuels are manufactured from renewable energy sources, such as corn, biomass, and sugarcane, among others, thus, adoption of biofuels can result in significant savings on crude oil imports for several countries. Not every country has sufficient reserve of crude oil, which results in substantial import of crude oil from oil-exporting countries, in turn, resulting in major economic pressure. In addition, rising demand for biofuels is resulting in increasing pressure to grow biofuel crops, which is further expected to drive growth of the agricultural sector. Moreover, expansion of the biofuel industry is expected to create job opportunities in an economy, therefore, shifting trend toward biofuels from any conventional fuels, such as coal and petroleum, is expected to secure economic conditions of a country and drive market revenue growth. Furthermore, increased use of biofuels in industrial and transportation applications is driving revenue growth of the market. Biofuels have potential to fulfill 30% of transportation fuels by 2050, thereby avoiding around 2.1 gigatons of CO2emission per year compared to continued use of petroleum-derived fuels. Read More : https://www.emergenresearch.com/industry-report/biofuels-market www.emergenresearch.com
Market Summary Some Key Highlights From the Report The ethanol segment is expected to register a rapid growth rate during the forecast period due to its easy availability and ability to reduce global warming. Tropical climate is ideal for sugarcane production and corn & grain are produced in almost every country, hence, easy accessibility of ethanol is driving its adoption in manufacturing of products including lacquers, drugs, and plastic. The sugarcane segment is expected to register a high growth rate over the forecast period. Biofuels, which are produced from sugarcane, results in low net greenhouse gas emissions and reduce adverse impact on environment. Sugarcane is an economical choice for biofuel producers and several benefits, such as pest & disease resistance, drought, and cold tolerance of crop, are driving its adoption as a raw material for biofuel production. The Asia Pacific market is expected to grow at a rapid rate during the forecast period due to availability of considerable resources to produce biofuels. Market revenue growth is also driven by rising government initiatives in this region for reduction of greenhouse gases. Some major companies included in the global market report include Neste, Archer Daniels Midland (ADM), INEOS, BlueFire Renewables, Inc., Renewable Energy Group, Inc., Alto Ingredients, Inc., POET, LLC., Valero Energy Corporation, Shell, Abengoa, and Bunge Limited. Request Free Sample : https://www.emergenresearch.com/request-sample/114 www.emergenresearch.com
Market Summary Emergen Research has segmented the global biofuels market based on product type, feedstock, form, and region: Product Type Outlook (Revenue, USD Billion; 2019–2030) Biodiesel Ethanol Biogas Others Feedstock Outlook (Revenue, USD Billion; 2019–2030) Sugarcane Corn Vegetable Oil Others Form Outlook (Revenue, USD Billion; 2019–2030) Solid Biofuel Liquid Biofuel Gaseous Biofuel Request customization of the report @ https://www.emergenresearch.com/request-for-customization/114
Parameter Details Market Size Estimation Period 2020-2028 Base Year Considered 2020 Historical Data 2017-2019 Forecast Period 2021-2028 Quantitative Units Revenue in USD million & CAGR from 2020 to 2028 Segments Covered Types, Application, End-Users, Regions & more. MARKET The U.S., Germany, U.K., Italy, China, India, Japan, Brazil Countries Included SEGMENTATION Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends Report Coverage Regions Scope North America, Europe, Asia Pacific, Latin America, Middle East and Africa Customization Scope 10 hours of free customization & expert consultation Explore Different Purchase Options & Request for Discount to Avail New Year Discount Pricing and Purchase Options www.emergenresearch.com
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