Global Biofuels Market 2017-2021
Biofuels are renewable fuels that are produced through biological processes such as anaerobic digestion or agriculture, rather than the fuels produced through geological processes such as coal and petroleum. Biofuels primarily include ethanol and biodiesel and have numerous advantages such as lower carbon emissions over fossil fuels.
Technavio’s analysts forecast the global biofuels market to grow at a CAGR of 3.87% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global biofuels market for 2017-2021. To calculate the market size, the report considers the production of biofuels.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Biofuels Market 2017-2021
Technavio recognizes the following companies as the key players in the global biofuels market: Archer Daniels Midland, Cargill, INEOS, NESTE, and Renewable Energy Group
Other Prominent Vendors in the market are: Algenol, Altenesol, Argent Energy, Bay Biodiesel, biomax fuels, BIOX, Bunge, Butamax Advanced Biofuels, China National Petroleum, DuPont, Ecodiesel Colombia, Fiberight, Fujian Zhongde Energy, FutureFuel, GeoGreen Biofuels, GranBio, Green Plains, Jiangsu Yueda Kate New Energy, KFS Biodiesel, Koch FHR, Longyan Zhuoyue New Energy, Louis Dreyfus Company, RB FUELS, Solfuels, Valero Marketing and Supply Company, Vance Group, White Mountain Biodiesel, Wilmar International, and YAMUNA BIO ENERGY.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Research on third-generation biofuel: Algae fuel. First-generation biofuels are produced using vegetable oil, starch, sugar, and animal fats. Second-generation biofuels, known as advanced biofuels, are produced from feedstock that is not consumed as food. Second-generation fuels are produced using non-food crops such as wood (sawdust), organic waste (corn-Stover), and specific biomass plants such as jatropha, camelina, and switchgrass. Biofuel technology has further evolved with the introduction of third-generation biofuels. Third-generation biofuels are derived from algae that offer numerous advantages over other sources in producing biofuels.”
According to the report, one of the major drivers for this market is Increased adoption of renewable sources of energy. Rise in GHG emissions is of prime concern to mankind nowadays as these emissions have harmful implications and can cause valuable ozone layer depletion, resulting in global warming, melting of ice caps, and change in weather conditions. The need to reduce GHG emissions and prevent the degradation of the environment are the major driving forces for the rapid adoption of renewable sources of energy.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in oil prices. Biofuels have direct competition from convention fossil fuels. The global oil and gas industry is highly dependent on crude oil prices. Crude oil prices have witnessed several highs and lows in the recent past. Also, the crude oil price cycle has not exhibited a consistent trend over the past few years. The prices of crude oil crashed from over $100/bbl in June 2014 to around $50/bbl in December 2016. This project the volatile nature of the global crude oil market. The whole petroleum industry has witnessed a decline in growth owing to frequent fluctuations in crude oil prices. This in turn can affect the alternate fuels market, which is still at a growing stage with a relatively low share in global fuel consumption.
Archer Daniels Midland, Cargill, INEOS, NESTE, Renewable Energy Group, Algenol, Altenesol, Argent Energy, Bay Biodiesel, biomax fuels, BIOX, Bunge, Butamax Advanced Biofuels, China National Petroleum, DuPont, Ecodiesel Colombia, Fiberight, Fujian Zhongde Energy, FutureFuel, GeoGreen Biofuels, GranBio, Green Plains, Jiangsu Yueda Kate New Energy, KFS Biodiesel, Koch FHR, Longyan Zhuoyue New Energy, Louis Dreyfus Company, RB FUELS, Solfuels, Valero Marketing and Supply Company, Vance Group, White Mountain Biodiesel, Wilmar International, YAMUNA BIO ENERGY
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