Technavio, a tech-focused market research firm, has published a new report on the global biofuels market, which is expected to experience a steady growth rate with a CAGR of almost to 6% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global biofuels market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global biofuels market into the following key regions: the Americas, APAC, and EMEA.
Geographical segmentation of the global biofuels market for 2015 (market share %)
|
Americas |
43.58% |
|
EMEA |
41.39% |
|
APAC |
15.03% |
Source: Technavio
The Americas: Largest revenue generating region for biofuels market
The biofuels market was valued at more than $32 billion in 2015 and is expected to grow progressively at a CAGR of over 4% by 2020. The US government and the landscape in the region are apt for the production of feedstocks and manufacturing of biofuels. The government is extending support to producers of feedstock and manufacturers of biofuels by offering loans, funds, and grants to conduct research and development for the production of biofuels and promote sustainability of the environment. Such initiatives taken by the regulatory bodies in the Americas in assisting extensive research in new technology and process will help in improving the quality of biofuels in the region.
“The US government has taken several initiatives to increase the adoption of renewable fuels, especially biodiesel in many countries. The government has subsidized biofuels compared to the regular fuel as it provides $1 tax credit per gallon in an attempt to encourage the use of biodiesel blend fuels. Also, the government is promoting the use of biofuels in the transportation sector in Brazil to endorse the use of biodiesel as an alternative source of energy,” says Sayani Roy, a lead analyst at Technavio, specializing in research on oil and gas.
Click here to request a free sample of this report
Biofuels market in EMEA
EMEA is the second leading region in the production of biofuels and countries like Germany, the Netherlands, and France are the key revenue contributors in the area. The biofuels market generated $31 billion in 2015 in terms of revenue and will grow at a CAGR of around 6% by 2020. Various regulations by the government in the European market are implemented for the production and promotion of renewable energy sources. One of the many such policies is RED that promotes sustainable environment by using biofuels like biodiesel and bioethanol.
The Middle Eastern and African market for biofuels is still evolving. The government is promoting the mix of energy sources to implement the use of renewable energy and biofuels. The region is suited for large-scale production of algae, which is used as feedstock for producing biodiesel. The increasing number of pilot projects undertaken to explore the potential opportunities and production of biofuels in the Middle East and Africa will help in the growth of the European market.
Biofuels market in APAC
Countries like China, Thailand, Singapore, and Indonesia are the major revenue contributors in the APAC region. The APAC biofuel market was valued at around $11 billion in 2015 and is expected to grow at a CAGR of around 9% by 2020. The increasing consumption of energy due to the growing population is prompting several governments in the region to initiate the use of alternative fuel. For instance, India has recently launched a biodiesel program and made a B5 blend of biodiesel available to the public through 50,000 state-owned oil marketing companies. The government is encouraging alternative fuel consumption like biodiesel by exempting central taxes and excise duty. Such initiatives are expected to boost the production and support businesses to invest in the development the industry during the forecast period.
The top leading vendors operating in the global biofuels market are:
- ADM
- INEOS Enterprises
- Neste
- Renewable Energy
Some other prominent players in the market include Archer Daniel Midland, Cosan, Fujian Zhongde Energy, Guangzhou Devotion Thermal Technology, Gushan Environmental Energy, Henan Tianguan Enterprise Group, Jiangsu Hengshunda Bio-Energy, Jiangsu Yueda Kate New Energy, Jilin Fuel Ethanol, Longyan Zhuoyue New Energy, Louis Dreyfus Commodities, Ningbo Tech-Bank, Petrobras, Shandong Jinjiang Bioenergy Technology, Shell, Tangshan Jin Lihai Biodiesel, and Zhenghe Bioenergy.
A more detailed analysis is available in the Technavio report titled, ‘Global Biofuels Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Ethanol-Based Vehicle Market 2016-2020
- Global Biomass Boiler Market 2016-2020
- Biofuels Market in China 2015-2019
To read more press releases- click here.
For any assistance or query, please contact our media team at:
US: +1 630 333 9501
UK: +44 208 123 1770
