Insights Into The Advanced Biofuels Market’s Growth Opportunities Through 2023-2032 – Includes Advanced Biofuels Market Report
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The rising demand from the automotive industry is likely to spur innovation in advanced biofuels manufacturing, propelling the market during the forecast period.
The global advanced biofuels market is expected to grow from $53.79 billion in 2022 to $81.79 billion in 2023 at a compound annual growth rate (CAGR) of 41.3%. The global advanced biofuels market size is expected to reach $325.63 billion in 2027 at a CAGR of 41.3%.
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Global Advanced Biofuels Market Segments Include:
- By Fuel Type: Cellulosic Ethanol, Biofuel, Biobutanol, BioDME, Other Fuel Types
- By Processing Technology: Thermochemical, Biochemical
- By Raw Material: Jatropha, Camelina, Algae, Simple Lignocellulose, Other Raw Materials
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global advanced biofuels market in 2021.
Major Market Players in the advanced biofuels market include Abengoa Bioenergy Co. LLC, Algenol Biofuels Inc., Chemtex Group, Bangchak Corporation Public Company Limited (BCP), Clariant Product GmbH, Fiberight LLC, DuPont Industrial Biosciences.
Product innovations are the key trends expected to gain traction in the advanced biofuels industry in the next years. To maintain their market position, major firms in the advanced biofuels industry are focusing on the launch of novel products. For example, in February 2023, PRIO, a biofuel company based in Portugal, debuted the ECO Bunkers B30 biofuel, a new 30% advanced biofuel blend. It is a brand-new biofuel product with 30% advanced biofuel derived from waste raw materials. After being made at PRIO’s biodiesel facility, the fuel is blended in PRIO’s tank terminal in Aveiro.
The Advanced Biofuels Global Market Report 2023 provides a advanced biofuels market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The advanced biofuels market forecast analyzes advanced biofuels market size, advanced biofuels market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Advanced biofuels are liquid fuels that have a lifecycle greenhouse gas emissions reduction of at least 50% when compared to fossil fuels. They are frequently derived from non-food feedstocks. Biofuels are liquid petroleum fuel substitutes created from regenerating organic materials.
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