New York, Jan. 06, 2020 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global Green Gasoline market was valued at USD 253.2 Million in 2018 and is expected to reach USD 3.1 Billion by the year 2026, at a CAGR of 3.7 percent. Green gasoline, also known as bio-gasoline or renewable gasoline, is a biomass-derived fuel through a variety of biological, thermal, and chemical processes, which is suitable for use in industrial and automotive applications such as in spark-ignition engines. The fuel meets the ASTM D4814 specification in the U.S. and EN 228 in Europe. Green gasoline fuel is used in vehicles that are aimed to run on this fuel without requiring engine modifications and can use the existing petroleum fuel pipeline structures and retail distribution systems.
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Greenhouse gases (GHGs) are being released in greater extents into the atmosphere due to human activities, particularly due to the use of non-renewable fossil fuels and in view of this trend regarding emissions, their atmospheric concentrations are likely to increase at an alarming rate over the coming years. The major issue is with fossil fuels derived gasoline and diesel used in automotive and transportation applications, which tend to be ozone-harming. Green gasoline is a combination of chemical composites that is closely identical to standard gasoline, but it is derived from plants and not petroleum. Researchers across the world are working on various approaches to the production of green gasoline. The tools used for production range from microbes to catalysts, with each approach having its own advantages and disadvantages. Engineers and scientists using catalysts have achieved a number of recent breakthroughs, including conversion of wood chips into high-octane fuel components and the conversion of sugar, potentially derived from plants, into gasoline, diesel, and jet fuel materials and precursors for pharmaceuticals and plastics. These favorable properties are expected to propel the demand for Green Gasoline in the application as an alternative to traditional non-renewable fuels in the forecast period.
In recent times, significant growth in the demand for Green Gasoline has been observed. The key factors driving the market growth are increasing favorable government initiatives for research and development activities in the field of biofuels as an alternative to the currently used fossil fuels. Moreover, at present, the dependability on Electric Vehicles (EV) is on the lower side and still at a nascent stage, which is shifting the focus towards increasing the production of renewable fuels including green gasoline in the market. However, the high cost of capital investment in the production facilities required for green gasoline and the restricted utilization of production capacity by key players, are the major hindrance for market growth during 2019-2026.
Further key findings from the report suggest
- As of 2018, switchgrass is the leading feedstock segment of the global green gasoline The segment is further projected to register the fastest growth with the highest CAGR during the forecast period
- The sugar beets and sugar cane feedstock segment was valued at the second leading position in 2018 and is expected to maintain the position during the forecast period
- The gasification production process accounted for the largest market share of 78.5% in 2018. It is projected to maintain its lead with a significant CAGR during the forecast period
- The transportation end-use segment in the green gasoline market is the fastest-growing segment, registering a CAGR the highest CAGR followed by the industrial end-use
- The North America and Latin America regions accounted for the most significant market share in 2018. These regions are proposed to remain the dominant regional segment during 2019-2026. The country’s U.S. and Brazil in the region are the fastest-growing economies, which are projected to drive the global Green Gasoline market.
- Both Asia-Pacific and Middle East & Africa regions are forecasted to show the fastest growth over the coming years
- Key participants include Virent Energy Systems Inc., Global Bioenergies, Neste Oyj, Cool Planet Energy Systems, Sundrop Fuels, Primus Green Energy, Terrabon, and CORE Biofuel
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Green Gasolines market on the basis of feedstock, production process, end-use, and region:
Feedstock (Revenue, USD Million; Volume in Gallons, 2016–2026)
- Switchgrass
- Sugar Beets & Sugar Cane
- Wood Chips
- Corn
- Others
Production Process (Revenue, USD Million; Volume in Gallons, 2016–2026)
- Gasification
- Pyrolysis
- Aqueous Phase Processing
- Others
End-Use (Revenue, USD Million; Volume in Gallons, 2016–2026)
- Transportation
- Industrial
- Others
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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