Biofuels Market Growth, Global Survey, Analysis, Share, Company Profiles and Forecast by 2027
Growing environmental awareness and increasing government supportive policies and initiatives regarding the adoption of biofuels are driving the demand of the market.
Vancouver, BC -- (SBWire) -- 02/04/2021 --Biofuels Market
Biofuels are a renewable source of energy made from organic matter, which can be used as a fuel directly for various uses. The rising environmental consciousness and growing government policies and initiatives regarding the adoption of biofuels are the major driving factors of the market demand. The global biofuels market is projected to reach a value of USD 247.38 Billion by 2027 at a CAGR of 7.8%.
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Prominent Players Profiled in the Biofuels Market:
Archer Daniels Midland Company, Abengoa Bioenergy, Petrobras, Green Plains, Valero Energy Corporation, Bajaj Hindusthan Ltd, Renewable Energy Group, Inc., Royal Dutch Shell, POET, LLC, and Pacific Ethanol, Inc., among others.
Market Drivers
The growing levels of pollution and the high environmental degradation from the same have made it inevitable for people to find environment-friendly alternatives to conventional fossil fuels to reduce any further degradation of the environment. This is a significant factor boosting the market demand for biofuels during the forecast period. Moreover, growing government initiatives and policies to encourage the use of environment-friendly alternatives to mitigate damage to the environment will further boost the market growth during the forecast period.
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Biodiesel
Ethanol
Feedstock Outlook (Revenue, USD Billion; 2017-2027)
Vegetable Oils
Corn
Sugarcane
Others
Form Outlook (Revenue, USD Billion; 2017-2027)
Liquid Biofuel
Solid Biofuel
Gaseous Biofuel
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Key Summary of the Biofuels Market Report:
Insightful information regarding the global Biofuels market
Identification of growth in various segments and sub-segments of the Biofuels market
Strategic recommendations for investment opportunities
The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
Emerging trends and current market segment analysis to help investors formulate new business strategies
Accelerates the decision making process through the detailed description of the drivers, restraints, growth prospects, and limitations
Thorough SWOT analysis and Porter's Five Forces analysis along with feasibility analysis and investment return analysis
Regional Analysis
North America is projected to dominate the global market during the forecast period, owing to the favorable government policies and regulations in the region. The Asia Pacific region is expected to exhibit the highest growth during the forecast period, owing to the growing awareness among the people and the increasing subsidies offered by the government for encouraging the use of these fuels as an alternative for conventional fuels.
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