Biofuels Market Size Will Reach USD 218.7 Billion by 2022, Globally: Zion Market Research

According to the report, global biofuel market was valued at USD 168 billion in 2016, is expected to reach USD 218.7 billion in 2022 and is anticipated to grow at a CAGR of 4.5% between 2017 and 2022.

Sarasota, FL, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Biofuels Market Analysis by Type (Bioethanol, Biodiesel), and by Form (Solid, Liquid, and Gaseous) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global biofuel market was valued at USD 168 billion in 2016, is expected to reach USD 218.7 billion in 2022 and is anticipated to grow at a CAGR of 4.5% between 2017 and 2022. 

Biofuel is an economically important and versatile vegetable oil used as a raw material for both food and nonfood products. Biofuel is most widely used vegetable oil in the world and is found in supermarkets ranging from sweets, baked goods, margarine, cereals, washing powders, and cosmetics. Biofuel is also used as a first-generation fuel. It is also used in preventing vitamin A deficiency, cancer, brain disease, aging; and treating malaria, high blood pressure, high cholesterol, and cyanide poisoning. Most biofuels are produced in Asia, Africa, and South America because the trees require warm temperatures, sunlight and plenty of rain in order to maximize crop production.

Browse through 23 Tables & 21 Figures spread over 110 Pages and in-depth TOC on "Biofuels Market by Type (Bioethanol and Biodiesel), and by Form - Solid (Biocoal, Biochar), Fuel Pellets Liquid (Biodiesel and Bioethanol), and Gaseous (Biogas, Biopropane, and Syngas) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”.

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Factors such as improving economic conditions, rising living standards, and changing eating habits in emerging countries, and growing demand for vegetable oil as a feedstock for biodiesel production are driving the biofuels market growth. Furthermore, stringent regulations on trans-fat foods in U.S. and Europe are resulting in a rapid shift in consumption of soybeans oil to biofuels. Additionally, low price of biofuels than other vegetable oils is expected to boost the market growth within the forecast period. Moreover, increasing market penetration by major producing countries such as Indonesia, Malaysia, and Thailand may open up a new opportunity in the biofuels market in the forecast period. 

Biofuels market derivative segment includes crude palm oil, palm kernel oil, palm kernel cake, and others. The crude oil segment was a leading segment among the other biofuels derivative in the global biofuels market size in 2015 owing to growing applications such as edible oil, surfactants, cosmetics, biofuel, and lubricants.  On the basis of application biofuels market is divided into edible oil, cosmetics, bio-diesel, lubricants, surfactants and other applications. Edible oil segment is expected to witness strong growth in upcoming years owing health concerns regarding trans-fat consumption. 

Browse the full "Biofuels Market by Type (Bioethanol and Biodiesel), and by Form - Solid (Biocoal, Biochar), Fuel Pellets Liquid (Biodiesel and Bioethanol), and Gaseous (Biogas, Biopropane, and Syngas) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022" report at

North America is anticipated to account for the leading share of the revenue pie throughout the forecast horizon. The rising awareness regarding the advantages of biofuels over conventional fuels, regulatory & political support and agricultural and economic support along with policies pertaining to environment conservation along with the increasing environmental concerns among the populace are contributing to the growth of the region. North America will be closely trailed by Europe, whose development will be governed by similar factors.

The Europe region is likely to switch from an oversupplied to a scarcity biofuels market near the future. High biofuels production volumes in The Netherlands and lower consumption owing to fuel efficiency and the introduction of renewable energy supported the excess especially in the case of biodiesel. However changing blending targets in Germany, where a switch was made from blending targets based on energy content to blending targets based on CO2 reduction, most likely will push the balance into a shortfall.

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Asia Pacific biofuels market is expected to register highest growth over the forecast period. Some driving factors like availability of feedstock, the government’s law to support the approval of bio-based fuel alternatives and multiple uses of biofuels are likely to spur the biofuels market. The surging demand for bio-diesel in developing countries like India, China and Japan and growing focus on reliable, affordable and sustainable energy is the opportunities created in the region which in turn is expected to boost the biofuels market over the forecast period.

Latin America is expected to be the future market for Biofuels market. Rising urban population, and rising middle-class consumer income witnesses new growth opportunities during the forecast period. Most of the focus of biofuels in Latin America and the Caribbean has been on countries like Brazil and Argentina, the two countries with the largest potential locally and globally. However, most Latin American countries have initiated to consider the production of biofuels for their own domestic markets, as well as for exports to the global market. These factors, in turn, are likely to accelerate the biofuels market in the region.

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The Middle East and Africa represent a huge potential for biofuels in future. Improving economic activity is expected to boost the biofuels market in the region. Also, exponential consumption of energy in the region owing to urbanization and constant infrastructure development activities has led to the heavy dependence on fossil fuels. This will provoke the government to expand their energy mix; thus, driving the growth of the biofuels market in the near future.

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Key players in Biofuels market are Copersucar S.A DSM, Green Plains Inc., Aemetis Inc, Western Dubuque Biodiesel Llc, Solazyme Inc, Renewable Energy Group, Raizen Energia Participacoes S.A, BlueFire Renewables, Aventine Renewable Energy Holdings, Inc. (AVRW), and Australian Renewable Fuels Ltd. among others. 

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The report segments the global biofuels market as:

Global Biofuels Market: Type Analysis

  • Bioethanol 
  • Biodiesel

Global Biofuels Market: Form Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia PaciThe fic
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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