— Bio Fuels Industry 2019
The global biofuels market has been studied in an in-depth manner, to derive the growth rate and the market dynamics influencing such growth rate during the forecast period, in a report found on WiseGuy Reports (WGR). Factors attributable to the impressive CAGR projected by the global biofuels market include rising demand for secure, sustainable and clean energy supply, and higher mandates for blending biofuels in automotive fuels. Government support is anticipated to flourish in favor of the adoption of eco-friendly alternatives, showcasing the use of biofuels in a positive light.
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Some Of Major Key Players Included :-
• Archer Daniels Midland Company (U.S.)
• Aceites Manuelita S.A. (Colombia)
• Abengoa Bioenergy, Inc. (Spain)
• INEOS Group AG (U.K.)
• Neste Corporation (Finland)
• Renewable Energy Group, Inc (U.S.)
• BlueFire Renewables (U.S.)
• Cosan S.A. Indústria E Comércio (Brasil)
• Infinita Renovables SA (Spain)
• BioWanze SA (Belgium)
Furthermore, the versatile nature of biofuels enables their use as alternatives to traditional fuels in automotive with little to no modification requirements. This has promoted the drastic rise in inclination towards biofuels. Moreover, rising awareness of consumers towards the environment and hazardous effects of carbon emissions has contributed to the shift in consumer preferences. Such shift, in turn, is encouraging automotive manufacturers to invest heartily in the development of automobiles that support biofuels. Along with that, impressive growth noticed in the automotive sector is bound to have a positive impact on the demand for biofuels. All these factors are, in some way or the other, contributing heavily to the upscaling of the global biofuels market.
The global biofuels market is analyzed for several segments for in-depth understanding. Such segmentation has been carried out on the basis of fuel type, feedstock type, application, composition, and region. Based on fuel type, the global biofuels market is segmented into ethanol and biodiesel. Based on feedstock type, the global biofuels market is segmented into ethanol feedstock and biodiesel feedstock. Based on application, the global biofuels market is segmented into power generation and transportation. Based on composition, the global biofuels market is segmented into sugar feedstock, starch feedstock, lignocellulosic feedstock, and miscellaneous feedstock.
Detailed Regional Analysis
The global biofuels market is studied for certain regional markets to gain a detailed insight into specific regions. The regional segments studied in the report include North America, Asia Pacific, Europe, and Rest of the World. North America and Europe are expected to lead the global biofuels market over the assessment period. Various factors causing the improvement of the biofuels market in these regions include favorable government policies towards higher adoption of biofuels and rising support from end-consumers towards the same. Apart from this, the regions have also noted a continuous flow of investments to upscale the research and development activities.
Further, Asia Pacific is also witnessed to progress at an impressive rate through the review period. One of the main reasons for such fast-paced upscaling is the presence of fast developing countries in the region, namely, India and China, which are the largest consumers of biofuels in the region.
Some of the significant players in the global biofuels market include Archer Daniels Midland Company (U.S.), Aceites Manuelita S.A. (Colombia), Abengoa Bioenergy, Inc. (Spain), INEOS Group AG (U.K.), Neste Corporation (Finland), Renewable Energy Group, Inc (U.S.), BlueFire Renewables (U.S.), Cosan S.A. Indústria E Comércio (Brasil), Infinita Renovables SA (Spain), and BioWanze SA (Belgium).
August 2019: Jumbo, a leading offshore transportation and installation contractor, recently entered into a partnership with GoodFuels, a sustainable marine biofuel company, to test GoodFuels’ marine Bio-Fuel Oil on an offshore decommissioning project.
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