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Liquid Biofuel Market to Set Phenomenal Growth by 2027<br>
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Liquid Biofuel Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2027 ©2019 Transparency Market Research, All Rights Reserved
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Liquid Biofuel Market: Introduction The global liquid biofuel market was valued at US$ 114 Bn in 2018 and is anticipated to expand at a CAGR of ~11% during the forecast period. Among types, the ethanol segment accounted for a major share of the global liquid biofuel market in 2018. Ethanol is a biofuel with high octane number, which is produced by fermentation of corn, potatoes, grain, sugar beet, sugarcane, and vegetable residues. The U.S. and Brazil are leading producers of ethanol across the globe. Both countries collectively accounted about 84% share of the world’s ethanol production in 2018. View Report Download Brochure ©2019 Transparency Market Research, All Rights Reserved
Key Drivers and Restraints of Liquid Biofuel Market • Increasing demand for alternative fuels from the transportation sector is a major factor driving the global liquid biofuel market. • Liquid biofuels are largely used as substitutes for petroleum-based fuels and they are considered useful to improve fuel security; to mitigate climate change; and to with emission targets set by various governments to slow dosupport infrastructure development. • In order to achieve compliance wn global warming and to improve security of energy supply, an increased contribution of both conventional and advanced biofuels would be required during the forecast period.
North America a Highly Lucrative Region of Liquid Biofuel Market North America dominates the global liquid biofuel market. Around 45% of liquid biofuels are produced in the region. The U.S. is the world’s leading producer of ethanol. It produced around 16 billion gallons or nearly 60 billionliters of ethanol in 2018. According to the U.S. Energy Information Administration’s (EIA) U.S. Fuel Ethanol Plant Production Capacity report, ethanol production capacity in the U.S. totaled16.9 billion gallons per year or 1.1 million barrels per day (b/d) in 2019. ©2019 Transparency Market Research, All Rights Reserved
Liquid Biofuel Market: Key Developments Fulcrum BioEnergy Archer Daniels Midland Company RB FUELS POET LLC Cargill Incorporated Bangchak Corporation Public Company Limited ©2019 Transparency Market Research, All Rights Reserved
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