The market is expected to generate an incremental $ opportunity of US$ 9,727.0 Mn between 2022 and 2032
Category: Clean Energy & Power Published Date : October 2022 ID: CVC-00189 Format: PDF Pages: 300
Global Advanced Biofuel Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Advanced Biofuel Market was worth US$ 7,465.0 Mn and is expected to grow at a CAGR of 8.7% over the forecast period. While the historical CAGR is 7.8%, the market is expected to hit US$ 17,192.0 Mn by 2032 end.
“Advanced biofuels” refers to fuels produced from various biomass, including municipal, agricultural, and other wastes. The term “second-generation biofuels” is also used. It is more difficult to obtain the necessary fuel from these biofuels since they are derived from woody crops or lignocellulose biomass, sugars, non-starches, and agricultural waste.
THE DEMAND FOR CLEANER ENERGY SOURCES DRIVES THE MARKET
Increasing demand for cleaner energy sources to minimize carbon emissions is one of the main driving factors for the global market for advanced biofuels. The need for advanced biofuels has grown due to the measures taken by various governments. The development of the market for advanced biofuels has also been impacted by the use of biofuels in the automotive sector.
LACK OF AWARENESS IMPEDES THE MARKET
Lack of knowledge about the benefits offered by using advanced biofuels is a major market restraint for the global market for these fuels. Only a few countries have adopted biofuels as a result of this ignorance.
Market Segments Covered in Report
By Processing Technology:
By Raw Materials:
By Region and Country:
Why is the Bio-Butanol Segment considered to be the Primary Market Concern?
Biofuels are increasingly being used as a motor fuel; bio-butanols are anticipated to have the biggest revenue share. It is due to the use of raw materials from algae with a high yield and the enormous potential of bio-Butanols to reduce greenhouse gas emissions.
Why is Municipal Solid Waste being used as a major raw material source?
The main source of lignocellulose feedstock for advanced bioenergy is municipal solid waste and agricultural and forestry waste, grasses, and algae. These plants are little maintenance and may grow in wastewater. And in recent years, the manufacturing of sophisticated biofuels from energy crops has increased.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
Players actively increase production capacity and engage in acquisitions, mergers, and R&D activities to strengthen the market position.
The key developments in the Global Advanced Biofuel Market are:
A list of some of the key suppliers present in the market are:
Global Advanced Biofuel Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Processing Technology, Raw Materials, Type, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|