Biofuels Marketto Develop at CAGR of 7.0% During Forecast Period, Notes Emergen Research Study
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Rising demand for reduced carbon-emitting fuels and advancements in algae-based biofuel generation are factors driving biofuels market revenue growth
VANCOUVER, BC, CANADA, September 8, 2022 /EINPresswire.com/ -- The global biofuels market size reached USD 154.76 Billion in 2021 and is expected to register a revenue CAGR of 7.0% during the forecast period, according to the latest analysis by Emergen Research. Biofuels are manufactured from renewable energy sources, such as corn, biomass, and sugarcane, among others, thus, adoption of biofuels can result in significant savings on crude oil imports for several countries. Not every country has sufficient reserve of crude oil, which results in substantial import of crude oil from oil-exporting countries, in turn, resulting in major economic pressure. In addition, rising demand for biofuels is resulting in increasing pressure to grow biofuel crops, which is further expected to drive growth of the agricultural sector.
Both primary and secondary data sources have been used in the global Biofuels Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.
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Some Key Highlights from the Report
The ethanol segment is expected to register a rapid growth rate during the forecast period due to its easy availability and ability to reduce global warming. Tropical climate is ideal for sugarcane production and corn & grain are produced in almost every country, hence, easy accessibility of ethanol is driving its adoption in manufacturing of products including lacquers, drugs, and plastic. Ethanol-fueled vehicles emit a lower amount of carbon dioxide compared to traditional gasoline-fueled vehicles, which results in reduced global warming.
The sugarcane segment is expected to register a high growth rate over the forecast period. Biofuels, which are produced from sugarcane, results in low net greenhouse gas emissions and reduce adverse impact on environment. Sugarcane is an economical choice for biofuel producers and several benefits, such as pest & disease resistance, drought, and cold tolerance of crop, are driving its adoption as a raw material for biofuel production.
The Asia Pacific market is expected to grow at a rapid rate during the forecast period due to availability of considerable resources to produce biofuels. Market revenue growth is also driven by rising government initiatives in this region for reduction of greenhouse gases.
The global report shows details related to the most dominant players in the global Biofuels, along with contact details, sales, and accurate figures of the worldwide Market. Various data and detailed analyses collected from various trusted institutions of the global Biofuels are presented in the Global Biofuels Research Report
Top Companies Covered In This Report:
Neste, Archer Daniels Midland (ADM), INEOS, BlueFire Renewables, Inc., Renewable Energy Group, Inc., Alto Ingredients, Inc., POET, LLC., Valero Energy Corporation, Shell, Abengoa, and Bunge Limited.
Find More Competitor in TOC with Profile Overview Share Growth Analysis @ https://www.emergenresearch.com/industry-report/biofuels-market
Emergen Research has segmented the global biofuels market based on product type, feedstock, form, and region:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
Biodiesel
Ethanol
Biogas
Others
Feedstock Outlook (Revenue, USD Billion; 2019–2030)
Sugarcane
Corn
Vegetable Oil
Others
Form Outlook (Revenue, USD Billion; 2019–2030)
Solid Biofuel
Liquid Biofuel
Gaseous Biofuel
Finally, the report majorly enlightens the key growth and limiting factors that majorly target the center of the market affecting the growth and its development to either positive or negative extent. The report also specifies the impact of regulations and policies implemented by the administration on the current growth and upcoming opportunities that may lead to market development escalation. The Biofuels Market report offers a superior vision of the global market, which will help clients to manage the business precisely with better growth and expansion compared to its contenders in the market.
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How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Biofuels market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Biofuels with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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What Questions Should You Ask before Buying a Market Research Report?
• How is the Biofuels market evolving?
• What is driving and restraining the Biofuels market?
• How will each Biofuels submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?
• How will the market shares for each Biofuels submarket develop from 2022 to 2030?
• What will be the main driver for the overall market from 2022 to 2030?
• Will leading Biofuels markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
• How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?
• Who are the leading players and what are their prospects over the forecast period?
• What are the Biofuels projects for these leading companies?
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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The global biofuels market size reached USD 154.76 Billion in 2021
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