Depleting fuel reserves have stimulated the oil and gas companies to look for more effective and eco-friendly alternatives to cater to the growing demand for propulsion fuel. This is the major factor that propels the growth of global liquid biofuel market from 2019 to 2027.
During the estimated time frame, the global liquid biofuel market shall witness a staggering ~11% CAGR, says a recent report by Transparency Market Research.
ALBANY, New York, March 17, 2020 /PRNewswire/ -- Majorly driven by the rise in the depletion of fuel reserve across the globe, the global liquid biofuel market is expected to grow significantly during the tenure of 2019 to 2027, says a recent report by Transparency Market Research. As per the report, the market is projected to witness a significant ~11% CAGR during this tenure. Moreover, looking at the growing demand for eco-friendly demand the global liquid biofuel market shall reach to the value of ~US$ 295 Bn by the end of 2027.
Major Finding in the Global Liquid Biofuel Market Study
Ethanol to remain the most lucrative type of liquid biofuel. This dominance of the biofuel is the result of rising adoption for propulsion and easy availability.
Sugar crops and vegetable oil segment under feedstock category are expected to dominate the global liquid biofuel market collectively. This prominence of the segment is attributed to the demand for recycling the waste produced while developing products that have sugar in it. Moreover, the consumption of vegetable extract in various food items has also propelled the production of waste vegetable oil that can act as an effective biofuel.
Transportation segment under application category shall emerge as the most lucrative segment in the global liquid biofuel market.
Explore the actionable insights from the report on global liquid biofuel market available under the title: Liquid Biofuel Market (Type: Ethanol and Biodiesel; Feedstock: Sugar Crops, Starch Crops, Vegetable Oils, Animal Fats, and Others; Process: Fermentation, Transesterification, and Others; and Application: Transportation, Power Generation, and Heat) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/liquid-biofuel-market.html
Major Drivers Mentioned in Global Liquid Biofuel Market Study
Stringent government policies to reduce the carbon emission in their respective constituency is the major factor that propels the growth of global liquid biofuel market during the tenure of 2019 to 2027.
Growing demand for alternative fuel due to depleting conventional fuel reserves also propels the growth of global liquid biofuel market during the tenure of 2019 to 2027.
Rising concerns of global warming due to several pollutants that emitted from industries, vehicles and domestic goods has also propelled the oil and gas companies to develop eco-friendly liquid biofuels. This shall help the global liquid biofuel market to showcase an astounding growth during the tenure.
Volatile prices of crude oil is hampering the economy of various countries across the globe. To overcome these issues, the countries are developing cost-effective and less volatile fuels for propulsion. These developments shall also propel the growth of global liquid biofuel market during the tenure between 2019 and 2027.
North America dominated the global liquid biofuel market during 2018. The region in lieu with Energy Independence and Security Act of 2007, is expected to produce 36 Bn gallon per year by the end of 2022. Moreover, the region accounted for the production of 40% ethanol in 2018.
Furthermore, as per the report by U.S. Biodiesel Plant Production Capacity of 2019, there are 102 active biodiesel plants operating in the U.S. with the capacity of 2.6 Bn gallon per year capacity.
Europe dominated the global liquid biofuel market in terms of revenue during 2018. The region is expected to continue its dominance in coming years. It is noticeable that Europe is accounted for around 35% of overall biodiesel production making it the largest shareholder in global liquid biofuel market.
Analyze liquid biofuel market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Competitive Analysis of Global Liquid Biofuel Market
The global liquid biofuel market is largely fragmented and is massively competitive. This landscape of the market is attributed to the dominance of the emerging players over the market. However, this scenario poses tough challenge for the new players willing to enter the global liquid biofuel market.
To withstand this competition, the new players are resorting to extensive research and development, coupled with collaboration and mergers. Some of the major players of global liquid biofuel market are: Green Biologics Limited, Archer Daniels Midland Company, Bangchak Corporation Public Company Limited, and World Energy Alternatives LLC.
The global liquid biofuel market is segmented on the basis of:
Liquid Biofuel Market, by Type
Liquid Biofuel Market, by Feedstock
Liquid Biofuel Market, by Process
Liquid Biofuel Market, by Application
Liquid Biofuel Market, by Region
Rest of North America
Rest of Europe
Asia Pacific (APAC)
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of Middle East & Africa
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