According to a recent business intelligence report from IndustryARC, a research and consulting firm, the revenue in the global biodiesel market will grow at healthy CAGRin terms of value over the forecast period of 2018 to 2023. The report is titled “
Biofuel Market: By Product Type, By Blend, By Feedstock, By Production Technology and By End-Use Industry & By Geography – Forecast(2018 - 2023)
Biofuel by its nature is biodegradable - and the same characteristics that make biofuel attractive to biodegrading organisms, also make biofuel attractive to Sulphate Reducing Bacteria (SRB's). The introduction of the Fatty Acid and Methyl Ester (FAME) standard has meant a steady rise in the ubiquity of biofuels. The occurrence of microbial contamination, however, is a factor that can have a detrimental impact on biofuel standards across all applications. The nature of biofuel increases the likelihood of microbial contamination due to the nature of its contents.
Browse 80 Market Tables, 179 Figures spread through 159 slides and an in-depth TOC “
Biofuel Market (2018 - 2023)”
International Energy Agency (IEA) in a recent report states that biofuels can provide up to 27% of world transportation fuel by 2050. The biofuels market has witnessed stocking growth on account of rising environmental awareness and strong demand from automotive applications in a sustainable way that brings significant benefits. Stringent government regulations and increasing concerns over energy security is propelling the biofuels market to grow.
Different advanced technologies are present in the market, which are capable to determine accurate biofuel content of diesel blends. These advanced sensor technologies provide more reliable data with less time of operation, which helps in the production volume of the bio-diesel products. Various factors such as expanding domestic and global biofuel production capacity, weak dollar price, and decreasing energy and transportation cost are anticipated to strengthen the demand for biofuel products.
Global Biofuels Market Outlook:
Vegetable oil source segment of the market holds a major share in the market, owing to their higher demand for vegetable oil is one of the economic sources for biodiesel production. This process offers a multi-facet solution, such as economic in price, environmental safety, and reduced waste management.
Though the industry has witnessed a rise in raw material prices coupled with fierce price competition, key players are managing to sustain the market demand and profit margins with strategic investments and production flexibility. Neste Corporation is one such company which has been investing significantly in R&D and has perceived strong revenues of EUR 1,101 million in 2017.
The global biofuels market demand is rapidly increasing in various areas including food and automotive applications. Additionally, its development in sensor technologies is a remarkable growth in the market. Vegetable oil source is the leading segment contributing a major share in the market. Moreover, growing focus towards biofuels is poised to increase the demand of the market in the near future.
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Biodiesel Market: By Source (Vegetable oil, Animal fat, Biomass and others); By Blend (B100, B20, B5 and others); By Application (Automotive, Aviation, Industrial, Marine and others) & Geography -Forecast (2018-2023)
Bioethanol Market: By Feed Stock (Conventional, New Feedstock and others); By Blend (E15, E15, E25, E30, E40 and others); By Production Technology (Dry mill, Wet mill); By End user industry (Aerospace, automotive, power generation, residential and commercial heating, consumer products, industrial, beverage, pharmaceuticals) & Geographic Analysis - Forecast (2018-2023)
IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
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