바이오 연료 (Biofuel) 시장조사 보고서

Report Overview

The global biofuel market is estimated to grow from USD 167.4 Billion in 2023 to USD 225.9 Billion by 2028; it is expected to record a CAGR of 6.2% during the forecast period. The growth is attributed to the rising demand for cleaner fuels worldwide. This demand is expected to continue to grow in the coming years as the world seeks to transition to a cleaner and more sustainable energy future. In addition, supportive government policies such as tax credits and bending mandates are another key reason driving the growth of the biofuel market.

“Biodiesel: The second-largest segment of the biofuel market, by fuel type. “
Based on fuel type, the biofuel market has been split into four types: ethanol, biodiesel, renewable diesel, and biojets. The biodiesel segment is expected to hold the second largest market share during the forecast period. Biodiesel is generally produced from feedstocks, such as vegetable oils and animal fats. The utilization of renewable feedstocks decreases reliance on finite fossil fuel resources while also enhancing energy security. The growing initiatives to reduce carbon emissions from the transport sector is one of the important factor driving the growth of the biodiesel segment in the biofuel market.

“First Generation segment is expected to be the largest segment during the forecast period based on generation.”
By generation, the biofuel market has been segmented into the first-generation, second generation and third generation. The first generation segment is expected to hold the largest market share during the forecast period. First generation biofuels are produced from food crops, such as corn, sugarcane, and soybeans. These crops are high in starch, sugar, or oil, which can be converted into biofuels through fermentation or other chemical processes. Easily accessible raw materials and the extensive use of biofuel in many countries will boost the biofuel market in the first generation segment.

“By end use, the transportation segment is expected to be the largest segment during the forecast period.”
Based on the end use, the biofuel market is segmented into transportation, aviation, and others. The transportation segment is expected to be the largest segment of the biofuel market during the forecast period. Biofuels can be used in transportation applications in a variety of ways. For example, biodiesel can be used in pure form or blended with diesel fuel. Ethanol can be used in pure form or blended with gasoline. Biofuels can also be used to produce other types of transportation fuels, such as renewable diesel. The mitigation of carbon emissions from the transport sector globally is one of the key factors accelerating the usage of biofuels in the transport sector.

“North America is expected to be the largest region in the biofuel market.”
North America is expected to be the largest region in the biofuel market during the forecast period. Growth is attributed to the rising investments in deploying biorefineries and a highly optimistic outlook for the renewable energy industry in the region. Further, according to the BP Statistical Review of World Energy 2022, 38.5% of the total renewable biofuel produced in North America is consumed in the region. The majority of biofuel usage is in the form of a blend with refined petroleum products including gasoline, diesel fuel, heating oil and jet fuel. This shift from predominantly conventional fuels to biofuels is expected to drive the biofuel market in the region. Moreover, the favorable government policies and programs intended to promote the usage of biofuels are also expected to drive the biofuel market in North America.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
By Region: North America- 40%, Europe- 25%, Asia Pacific-25%, Rest of the World – 10%,
Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The biofuel market is dominated by a few major players that have a wide regional presence. The leading players in the biofuel market are ADM (US), Chevron (US), Valero (US), Neste (Finland), and Cargill, Incorporated (US). The major strategy adopted by the players includes new product launches, contracts & agreements, partnerships, collaborations, joint ventures, mergers and acquisitions, and investments & expansions.

Research Coverage:
The report defines, describes, and forecasts the global biofuel market by fuel type, generation, end use, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the biofuel market.

Key Benefits of Buying the Report
• A transition toward the adoption of renewable energy sources and rising demand for cleaner fuels are a few of the key factors driving the biofuel market. Factors such as a high initial investment for setting up the biorefineries restrain the growth of the market. High rate depletion of fossil fuels and supportive government policies and programs to promote biofuels are expected to present lucrative opportunities for the players operating in the biofuel market. The variability and high cost of feedstocks pose a major challenge for the players, especially for emerging players operating in the biofuel market.
• Product Development/ Innovation: The biofuel market is witnessing significant product development and innovation, driven by the growing demand for biofuels in the transportation and aviation sectors. Companies are investing in developing advanced biofuel types using second-generation feedstocks such as used cooking oil, animal fats, and other agricultural residues.
• Market Development: Neste acquired Crimson Renewable Energy Holdings, LLC’s used cooking oil (UCO) collecting and aggregation business and related assets. This acquisition strengthens Neste’s global raw materials sourcing platform.
• Market Diversification: Chevron Renewable Energy Group launched its line of branded fuel solutions, EnDura Fuels, a line which produces many types of renewable fuel including InfinD, PuriD which is next-generation biodiesel, UltraClean, VelociD, and BeyonD. These products help aviation, marine, trucking, rail, and other industries reach sustainability targets by using cleaner-burning and lower-emission fuels.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include ADM (US), Chevron (US), Valero (US), Neste (Finland), and Cargill, Incorporated (US), among others in the biofuel market.

Table of Contents

1            INTRODUCTION            27

1.1         STUDY OBJECTIVES      27

1.2         MARKET DEFINITION   27

1.2.1      INCLUSIONS AND EXCLUSIONS 28

1.3         STUDY SCOPE  29

1.3.1      MARKETS COVERED     29

FIGURE 1           BIOFUEL MARKET: SEGMENTATION     29

1.3.2      REGIONAL SCOPE         29

1.3.3      YEARS CONSIDERED     30

1.4         CURRENCY CONSIDERED          30

1.5         VOLUME UNIT CONSIDERED    30

1.6         LIMITATIONS   30

1.7         STAKEHOLDERS            31

1.8         IMPACT OF RECESSION 31

2            RESEARCH METHODOLOGY     32

2.1         RESEARCH DATA           32

FIGURE 2           BIOFUEL MARKET: RESEARCH DESIGN 32

2.1.1      SECONDARY DATA       33

2.1.1.1   Key data from secondary sources     33

2.1.2      PRIMARY DATA 33

FIGURE 3           KEY DATA FROM PRIMARY SOURCES    34

2.1.2.1   Breakdown of primaries     34

FIGURE 4           BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION,  AND REGION  35

2.2         MARKET BREAKDOWN AND DATA TRIANGULATION    36

FIGURE 5           DATA TRIANGULATION METHODOLOGY         36

2.3         MARKET SIZE ESTIMATION       37

2.3.1      BOTTOM-UP APPROACH           37

FIGURE 6           MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH       37

2.3.2      TOP-DOWN APPROACH             38

FIGURE 7           MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH       38

2.3.3      DEMAND-SIDE ANALYSIS           39

FIGURE 8           MAIN METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR BIOFUELS            39

2.3.3.1   Demand-side calculations  39

2.3.3.2   Demand-side assumptions 40

 

2.3.4      SUPPLY-SIDE ANALYSIS             41

FIGURE 9           BIOFUEL MARKET: SUPPLY-SIDE ANALYSIS       41

2.3.4.1   Supply-side calculations     41

2.3.4.2   Supply-side assumptions    41

2.3.5      GROWTH FORECAST    42

2.3.6      RECESSION IMPACT      42

3            EXECUTIVE SUMMARY 43

TABLE 1             BIOFUEL MARKET SNAPSHOT  43

FIGURE 10         ETHANOL SEGMENT TO HOLD LARGEST SHARE OF BIOFUEL MARKET, 

BY FUEL TYPE, IN 2028  44

FIGURE 11         TRANSPORTATION SEGMENT TO LEAD BIOFUEL MARKET, BY END USE, IN 2028           44

FIGURE 12         FIRST-GENERATION BIOFUELS TO HOLD LARGEST SHARE OF BIOFUEL MARKET, BY GENERATION, IN 2028     45

FIGURE 13        NORTH AMERICA DOMINATED BIOFUEL MARKET, BY REGION, IN 2022 46

4            PREMIUM INSIGHTS      47

4.1         ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BIOFUEL MARKET              47

FIGURE 14         INCREASING GLOBAL FOCUS ON GHG EMISSION REDUCTION AND ENERGY SUFFICIENCY TO DRIVE BIOFUEL MARKET           47

4.2         BIOFUEL MARKET IN NORTH AMERICA, BY FUEL TYPE AND COUNTRY              47

FIGURE 15         ETHANOL AND US HELD LARGEST MARKET SHARES IN NORTH AMERICA IN 2022           47

4.3         BIOFUEL MARKET, BY REGION 48

FIGURE 16         BIOFUEL MARKET IN EUROPE TO RECORD HIGHEST CAGR DURING FORECAST PERIOD     48

4.4         BIOFUEL MARKET, BY GENERATION     48

FIGURE 17         FIRST-GENERATION BIOFUELS HELD LARGEST MARKET SHARE IN 2022  48

4.5         BIOFUEL MARKET, BY FUEL TYPE          49

FIGURE 18         ETHANOL SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2022  49

4.6         BIOFUEL MARKET, BY END USE 49

FIGURE 19         TRANSPORTATION CAPTURED MAJOR MARKET SHARE IN 2022              49

5            MARKET OVERVIEW     50

5.1         INTRODUCTION            50

5.2         MARKET DYNAMICS     51

FIGURE 20         BIOFUEL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,  AND CHALLENGES        51

5.2.1      DRIVERS            51

5.2.1.1   Favorable government policies promoting use of biofuels           51

5.2.1.2   Rising demand for cleaner fuels worldwide    52

5.2.1.3   Growing awareness of utilizing renewable sources to reduce greenhouse gas emissions             52

 

5.2.2      RESTRAINTS     53

5.2.2.1   Requirement for high initial capital investment            53

5.2.2.2   Uncertain economic conditions globally         53

5.2.3      OPPORTUNITIES           54

5.2.3.1   High depletion rate of fossil fuels     54

5.2.4      CHALLENGES   54

5.2.4.1   High variable costs of feedstock       54

5.2.4.2   High cost of setting up biofuel plants             54

5.3         TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 55

FIGURE 21         REVENUE SHIFTS AND NEW REVENUE POCKETS FOR BIOFUEL PROVIDERS       55

5.4         SUPPLY CHAIN ANALYSIS          55

FIGURE 22         BIOFUEL MARKET: SUPPLY CHAIN ANALYSIS    56

TABLE 2             BIOFUEL MARKET: SUPPLY CHAIN ANALYSIS    56

5.4.1      FEEDSTOCK PROVIDERS/TECHNOLOGY AND EPC PROVIDERS 57

5.4.2      BIOFUEL PRODUCERS/SUPPLIERS         57

5.4.3      END USERS       57

5.5         ECOSYSTEM/MARKET MAP       58

FIGURE 23         ECOSYSTEM ANALYSIS 58

5.6         TECHNOLOGY ANALYSIS           58

5.6.1      TECHNOLOGY TRENDS IN BIOFUEL MARKET   58

5.6.2      IMPLEMENTATION OF MACHINE LEARNING IN BIOFUEL MANUFACTURING PROCESS     58

5.6.3      IOT-CONNECTED BIOFUEL PLANTS     59

5.7         PATENT ANALYSIS        60

FIGURE 24         BIOFUEL MARKET: PATENT REGISTRATIONS, 2012–2022              60

5.7.1      LIST OF MAJOR PATENTS          60

TABLE 3             BIOFUEL MARKET: INNOVATIONS AND PATENT REGISTRATIONS, MARCH 2019–SEPTEMBER 2023            60

5.8         TRADE ANALYSIS          69

5.8.1      IMPORT SCENARIO       69

TABLE 4             IMPORT DATA FOR HS CODE 3826, BY COUNTRY, 2020–2022 (USD THOUSAND)        70

FIGURE 25         IMPORT DATA, BY TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND)     70

5.8.2      EXPORT SCENARIO       71

TABLE 5             EXPORT SCENARIO FOR HS CODE 3826, BY COUNTRY, 2020–2022 (USD THOUSAND) 71

FIGURE 26         EXPORT DATA, BY TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND)     72

5.9         PRICING ANALYSIS        72

5.9.1      INDICATIVE PRICING ANALYSIS OF BIOFUELS, BY FUEL TYPE   72

TABLE 6             INDICATIVE PRICING ANALYSIS OF BIOFUELS, BY FUEL TYPE, 2022      72

5.9.2      AVERAGE SELLING PRICE TREND, BY REGION  72

TABLE 7             AVERAGE SELLING PRICE TREND, BY REGION, 2022       72

 

5.9.3      INDICATIVE PRICING ANALYSIS OF BIOFUELS, BY END USE       72

TABLE 8             INDICATIVE PRICING ANALYSIS OF BIOFUELS, BY END USE, 2022      72

5.10       TARIFFS, CODES, AND REGULATORY BODIES   73

5.10.1    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS          73

5.11       PORTER’S FIVE FORCES ANALYSIS         76

FIGURE 27         BIOFUEL MARKET: PORTER’S FIVE FORCES ANALYSIS   76

TABLE 9             BIOFUEL MARKET: PORTER’S FIVE FORCES ANALYSIS   77

5.11.1    THREAT OF SUBSTITUTES         77

5.11.2    BARGAINING POWER OF SUPPLIERS     77

5.11.3    BARGAINING POWER OF BUYERS           77

5.11.4    THREAT OF NEW ENTRANTS    78

5.11.5    INTENSITY OF COMPETITIVE RIVALRY 78

5.12       CASE STUDY ANALYSIS 78

5.13       KEY STAKEHOLDERS AND BUYING CRITERIA    80

5.13.1    KEY STAKEHOLDERS IN BUYING PROCESS         80

FIGURE 28         INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS, BY END USE            80

TABLE 10           INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS, BY END USE            80

5.13.2    BUYING CRITERIA         80

FIGURE 29         INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP TWO PRODUCTS        80

TABLE 11           KEY BUYING CRITERIA FOR TOP TWO PRODUCTS         81

5.14       KEY CONFERENCES AND EVENTS, 2023–2024     81

TABLE 12           BIOFUEL MARKET: LIST OF CONFERENCES AND EVENTS              81

6            DIFFERENT FORMS OF BIOFUEL            82

6.1         INTRODUCTION            82

6.2         LIQUID 82

6.2.1      ETHANOL         82

6.2.2      BIODIESEL        82

6.2.3      RENEWABLE DIESEL     82

6.2.4      BIOJET 83

6.3         GASEOUS          83

6.3.1      BIOGAS 83

6.3.2      BIOMETHANE  84

6.3.3      BIOHYDROGEN             84

6.4         SOLID  85

7            BIOFUEL MARKET, BY FUEL TYPE          86

7.1         INTRODUCTION            87

FIGURE 30         BIOFUEL MARKET, BY FUEL TYPE, 2022 87

TABLE 13           BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD BILLION)              87

TABLE 14           BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD BILLION)              87

TABLE 15           BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (BILLION LITERS)              88

TABLE 16           BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (BILLION LITERS)              88

7.2         ETHANOL         88

7.2.1      INCREASING CONCERNS OVER FOOD SECURITY TO ACCELERATE USE OF ETHANOL BLENDS  88

TABLE 17           ETHANOL: BIOFUEL MARKET, BY REGION, 2019–2022 (USD MILLION)          89

TABLE 18           ETHANOL: BIOFUEL MARKET, BY REGION, 2023–2028 (USD MILLION)          89

7.3         BIODIESEL        89

7.3.1      RISING USE OF BIODIESEL AS TRANSPORTATION FUEL TO DRIVE DEMAND           89

TABLE 19           BIODIESEL: BIOFUEL MARKET, BY REGION, 2019–2022 (USD MILLION)          90

TABLE 20           BIODIESEL: BIOFUEL MARKET, BY REGION, 2023–2028 (USD MILLION)          90

7.4         RENEWABLE DIESEL     90

7.4.1      GROWING FOCUS ON REDUCING CARBON EMISSIONS TO BOOST MARKET            90

TABLE 21           RENEWABLE DIESEL: BIOFUEL MARKET, BY REGION, 2019–2022 (USD MILLION) 91

TABLE 22           RENEWABLE DIESEL: BIOFUEL MARKET, BY REGION, 2023–2028 (USD MILLION) 91

7.5         BIOJET 91

7.5.1      SURGING REQUIREMENT TO REDUCE CO2 AND GHG EMISSIONS IN AVIATION SECTOR TO PROPEL SEGMENTAL GROWTH 91

TABLE 23           BIOJET: BIOFUEL MARKET, BY REGION, 2019–2022 (USD MILLION)          92

TABLE 24           BIOJET: BIOFUEL MARKET, BY REGION, 2023–2028 (USD MILLION)          92

8            BIOFUEL MARKET, BY END USE 93

8.1         INTRODUCTION            94

FIGURE 31         TRANSPORTATION SEGMENT TO DOMINATE BIOFUEL  MARKET IN 2028             94

TABLE 25           BIOFUEL MARKET, BY END USE, 2019–2022 (USD BILLION)              94

TABLE 26           BIOFUEL MARKET, BY END USE, 2023–2028 (USD BILLION)              94

8.2         TRANSPORTATION       95

8.2.1      BIOFUEL BLENDING MANDATES AND SUBSIDIES TO BOOST DEMAND FOR BIOFUELS 95

TABLE 27           TRANSPORTATION: BIOFUEL MARKET, BY REGION, 2019–2022 (USD MILLION) 95

TABLE 28           TRANSPORTATION: BIOFUEL MARKET, BY REGION, 2023–2028 (USD MILLION) 96

8.3         AVIATION         96

8.3.1      DROP-IN CAPABILITY OF BIOFUELS WITHOUT NEEDING TO REWORK AIRCRAFT INFRASTRUCTURE TO PROPEL MARKET       96

TABLE 29           AVIATION: BIOFUEL MARKET, BY REGION, 2019–2022 (USD MILLION)          96

TABLE 30           AVIATION: BIOFUEL MARKET, BY REGION, 2023–2028 (USD MILLION)          97

8.4         OTHER END USES          97

TABLE 31           OTHER END USES: BIOFUEL MARKET, BY REGION, 2019–2022 (USD MILLION) 98

TABLE 32           OTHER END USES: BIOFUEL MARKET, BY REGION, 2023–2028 (USD MILLION) 98

9            BIOFUEL MARKET, BY GENERATION     99

9.1         INTRODUCTION            100

FIGURE 32         BIOFUEL MARKET, BY GENERATION, 2022         100

TABLE 33           BIOFUEL MARKET, BY GENERATION, 2019–2022 (USD BILLION)              100

TABLE 34           BIOFUEL MARKET, BY GENERATION, 2023–2028 (USD BILLION)              100

9.2         FIRST GENERATION      101

9.2.1      EASY AVAILABILITY OF FEEDSTOCK TO BOOST DEMAND         101

TABLE 35           FIRST GENERATION: BIOFUEL MARKET, BY FEEDSTOCK, 2019–2022 (USD BILLION)      101

TABLE 36           FIRST GENERATION: BIOFUEL MARKET, BY FEEDSTOCK, 2023–2028 (USD BILLION)      102

TABLE 37           FIRST GENERATION: BIOFUEL MARKET, BY REGION, 2019–2022 (USD MILLION) 102

TABLE 38           FIRST GENERATION: BIOFUEL MARKET, BY REGION, 2023–2028 (USD MILLION) 102

9.3         SECOND GENERATION 103

9.3.1      TRANSITION TOWARD CLEAN ENERGY ECONOMY TO SUPPORT MARKET GROWTH        103

TABLE 39           SECOND GENERATION: BIOFUEL MARKET, BY FEEDSTOCK, 2019–2022 (USD BILLION)           104

TABLE 40           SECOND GENERATION: BIOFUEL MARKET, BY FEEDSTOCK, 2023–2028 (USD BILLION)           104

TABLE 41           SECOND GENERATION: BIOFUEL MARKET, BY REGION, 2019–2022 (USD MILLION)     104

TABLE 42           SECOND GENERATION: BIOFUEL MARKET, BY REGION, 2023–2028 (USD MILLION)     105

9.4         THIRD GENERATION    105

9.4.1      RISE IN DEMAND FOR ALGAE-BASED BIOFUELS TO DRIVE MARKET              105

TABLE 43           THIRD GENERATION: BIOFUEL MARKET, BY FEEDSTOCK, 2019–2022 (USD BILLION)           106

TABLE 44           THIRD GENERATION: BIOFUEL MARKET, BY FEEDSTOCK, 2023–2028 (USD BILLION)           106

TABLE 45           THIRD GENERATION: BIOFUEL MARKET, BY REGION, 2019–2022 (USD MILLION)     107

TABLE 46           THIRD GENERATION: BIOFUEL MARKET, BY REGION, 2023–2028 (USD MILLION)     107

10          BIOFUEL MARKET, BY REGION 108

10.1       INTRODUCTION            109

FIGURE 33         EUROPE TO EXHIBIT FASTEST CAGR DURING FORECAST PERIOD              109

FIGURE 34         NORTH AMERICA DOMINATED BIOFUEL MARKET IN 2022              109

TABLE 47           BIOFUEL MARKET, BY REGION, 2019–2022 (USD BILLION)              110

TABLE 48           BIOFUEL MARKET, BY REGION, 2023–2028 (USD BILLION)              110

10.2       NORTH AMERICA          110

10.2.1    IMPACT OF RECESSION ON BIOFUEL MARKET IN NORTH AMERICA              110

FIGURE 35         NORTH AMERICA: BIOFUEL MARKET SNAPSHOT           111

TABLE 49           NORTH AMERICA: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION) 111

TABLE 50           NORTH AMERICA: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION) 112

TABLE 51           NORTH AMERICA: BIOFUEL MARKET, BY GENERATION, 2019–2022 (USD MILLION)     112

TABLE 52           NORTH AMERICA: BIOFUEL MARKET, BY GENERATION, 2023–2028 (USD MILLION)     112

TABLE 53           NORTH AMERICA: BIOFUEL MARKET, BY END USE, 2019–2022 (USD MILLION) 112

TABLE 54           NORTH AMERICA: BIOFUEL MARKET, BY END USE, 2023–2028 (USD MILLION) 113

TABLE 55           NORTH AMERICA: BIOFUEL MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 113

TABLE 56           NORTH AMERICA: BIOFUEL MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 113

10.2.2    US         113

10.2.2.1 Government support, environmental concerns, and energy security to drive market   113

TABLE 57           US: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          114

TABLE 58           US: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          114

10.2.3    CANADA            115

10.2.3.1 Clean fuel regulations and stringent carbon reduction goals to boost demand for biofuels  115

TABLE 59           CANADA: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          115

TABLE 60           CANADA: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          115

10.2.4    MEXICO             116

10.2.4.1 Enforcement of policies liberalizing trade of biofuel products to drive market              116

TABLE 61           MEXICO: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          116

TABLE 62           MEXICO: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          116

10.3       EUROPE             117

10.3.1    IMPACT OF RECESSION ON BIOFUEL MARKET IN EUROPE         118

FIGURE 36         EUROPE: BIOFUEL MARKET SNAPSHOT             118

TABLE 63           EUROPE: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          119

TABLE 64           EUROPE: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          119

TABLE 65           EUROPE: BIOFUEL MARKET, BY GENERATION, 2019–2022 (USD MILLION)          119

TABLE 66           EUROPE: BIOFUEL MARKET, BY GENERATION, 2023–2028 (USD MILLION)          119

TABLE 67           EUROPE: BIOFUEL MARKET, BY END USE, 2019–2022 (USD MILLION)          120

TABLE 68           EUROPE: BIOFUEL MARKET, BY END USE, 2023–2028 (USD MILLION)          120

TABLE 69           EUROPE: BIOFUEL MARKET, BY COUNTRY, 2019–2022 (USD MILLION)          120

TABLE 70           EUROPE: BIOFUEL MARKET, BY COUNTRY, 2023–2028 (USD MILLION)          121

10.3.2    FRANCE             121

10.3.2.1 Development of sustainable biofuels from non-food feedstocks to foster market growth   121

TABLE 71           FRANCE: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          121

TABLE 72           FRANCE: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          122

10.3.3    UK         122

10.3.3.1 Rising fossil fuel prices and environmental concerns to accelerate demand for biofuels  122

TABLE 73           UK: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          123

TABLE 74           UK: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          123

10.3.4    GERMANY         123

10.3.4.1 Biofuel blending mandates to support market growth   123

TABLE 75           GERMANY: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          124

TABLE 76           GERMANY: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          124

10.3.5    POLAND            124

10.3.5.1 Favorable policies to support development and use of biofuels to fuel market growth   124

TABLE 77           POLAND: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          125

TABLE 78           POLAND: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          125

10.3.6    REST OF EUROPE           125

TABLE 79           REST OF EUROPE: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION) 127

TABLE 80           REST OF EUROPE: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION) 127

10.4       ASIA PACIFIC    127

10.4.1    IMPACT OF RECESSION ON BIOFUEL MARKET IN ASIA PACIFIC 128

TABLE 81           ASIA PACIFIC: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION) 128

TABLE 82           ASIA PACIFIC: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION) 129

TABLE 83           ASIA PACIFIC: BIOFUEL MARKET, BY GENERATION, 2019–2022 (USD MILLION) 129

TABLE 84           ASIA PACIFIC: BIOFUEL MARKET, BY GENERATION, 2023–2028 (USD MILLION) 129

TABLE 85           ASIA PACIFIC: BIOFUEL MARKET, BY END USE, 2019–2022 (USD MILLION)          129

TABLE 86           ASIA PACIFIC: BIOFUEL MARKET, BY END USE, 2023–2028 (USD MILLION)          130

TABLE 87           ASIA PACIFIC: BIOFUEL MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 130

TABLE 88           ASIA PACIFIC: BIOFUEL MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 130

10.4.2    CHINA  131

10.4.2.1 Growing export of biodiesel to drive market   131

TABLE 89           CHINA: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          132

TABLE 90           CHINA: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          132

10.4.3    INDIA   132

10.4.3.1 Significant investments in ethanol production and R&D to contribute to market growth   132

TABLE 91           INDIA: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          133

TABLE 92           INDIA: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          133

10.4.4    INDONESIA       134

10.4.4.1 Rising adoption of biodiesel to accelerate market growth           134

TABLE 93           INDONESIA: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          134

TABLE 94           INDONESIA: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          135

10.4.5    THAILAND        135

10.4.5.1 Positive initiatives undertaken by government to support market growth 135

TABLE 95           THAILAND: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          135

TABLE 96           THAILAND: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          136

10.4.6    REST OF ASIA PACIFIC  136

TABLE 97           REST OF ASIA PACIFIC: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)     137

TABLE 98           REST OF ASIA PACIFIC: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)     137

10.5       ROW     137

10.5.1    IMPACT OF RECESSION ON BIOFUEL MARKET IN ROW 138

TABLE 99           ROW: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          138

TABLE 100         ROW: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          138

TABLE 101         ROW: BIOFUEL MARKET, BY GENERATION, 2019–2022 (USD MILLION)          138

TABLE 102         ROW: BIOFUEL MARKET, BY GENERATION, 2023–2028 (USD MILLION)          139

TABLE 103         ROW: BIOFUEL MARKET, BY END USE, 2019–2022 (USD MILLION)          139

TABLE 104         ROW: BIOFUEL MARKET, BY END USE, 2023–2028 (USD MILLION)          139

TABLE 105         ROW: BIOFUEL MARKET, BY COUNTRY, 2019–2022 (USD MILLION)          139

TABLE 106         ROW: BIOFUEL MARKET, BY COUNTRY, 2023–2028 (USD MILLION)          140

10.5.2    BRAZIL 140

10.5.2.1 Significant investments in new biorefinery projects to drive market         140

TABLE 107         BRAZIL: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          141

TABLE 108         BRAZIL: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          141

10.5.3    ARGENTINA      141

10.5.3.1 Rising use of bioethanol in fuel blends to boost demand             141

TABLE 109         ARGENTINA: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION) 142

TABLE 110         ARGENTINA: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION) 142

10.5.4    COLOMBIA       142

10.5.4.1 High domestic production of ethanol to boost market  142

TABLE 111         COLOMBIA: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)          143

TABLE 112         COLOMBIA: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)          143

10.5.5    OTHER COUNTRIES      143

TABLE 113         OTHER COUNTRIES: BIOFUEL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)     143

TABLE 114         OTHER COUNTRIES: BIOFUEL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION)     144

11          COMPETITIVE LANDSCAPE       145

11.1       OVERVIEW        145

11.1.1    KEY PLAYER STRATEGIES          145

TABLE 115         OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS              145

 

11.2       MARKET SHARE ANALYSIS, 2022             147

TABLE 116         BIOFUEL MARKET: DEGREE OF COMPETITION 147

FIGURE 37         BIOFUEL MARKET: MARKET SHARE ANALYSIS, 2022       147

11.3       MARKET EVALUATION FRAMEWORK, 2019–2023             148

TABLE 117         BIOFUEL MARKET: MARKET EVALUATION FRAMEWORK, 2019–2023      148

11.4       REVENUE ANALYSIS, 2018–2022 149

FIGURE 38         BIOFUEL MARKET: REVENUE ANALYSIS, 2018–2022        149

11.5       KEY COMPANY EVALUATION MATRIX, 2022       150

11.5.1    STARS  150

11.5.2    EMERGING LEADERS    150

11.5.3    PERVASIVE PLAYERS     150

11.5.4    PARTICIPANTS 150

FIGURE 39         BIOFUEL MARKET: KEY COMPANY EVALUATION MATRIX, 2022              151

11.6       COMPANY FOOTPRINT 152

TABLE 118         FUEL TYPE: COMPANY FOOTPRINT      152

TABLE 119         GENERATION: COMPANY FOOTPRINT 153

TABLE 120         END USE: COMPANY FOOTPRINT          154

TABLE 121         REGION: COMPANY FOOTPRINT            155

11.7       STARTUPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX, 2022      156

11.7.1    PROGRESSIVE COMPANIES       156

11.7.2    RESPONSIVE COMPANIES          156

11.7.3    DYNAMIC COMPANIES 156

11.7.4    STARTING BLOCKS       156

FIGURE 40         BIOFUEL MARKET: STARTUPS/SMES EVALUATION MATRIX, 2022      157

11.8       COMPETITIVE BENCHMARKING            158

TABLE 122         BIOFUEL MARKET: LIST OF KEY STARTUPS/SMES          158

TABLE 123         FUEL TYPE: STARTUPS/SMES FOOTPRINT         158

TABLE 124         GENERATION: STARTUPS/SMES FOOTPRINT    159

TABLE 125         END USE: KEY PLAYERS 159

TABLE 126         REGION: STARTUPS/SMES FOOTPRINT 159

11.9       COMPETITIVE SCENARIOS AND TRENDS           160

11.9.1    PRODUCT LAUNCHES  160

TABLE 127         BIOFUEL MARKET: PRODUCT LAUNCHES, 2019–2023     160

11.9.2    DEALS  160

TABLE 128         BIOFUEL MARKET: DEALS, 2018–2023    160

11.9.3    OTHERS             161

TABLE 129         BIOFUEL MARKET: OTHERS, 2019–2023 161

 

12          COMPANY PROFILES    163

(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)*

12.1       KEY PLAYERS   163

12.1.1    ADM     163

TABLE 130         ADM: COMPANY OVERVIEW     163

FIGURE 41         ADM: COMPANY SNAPSHOT     164

TABLE 131         ADM: PRODUCTS/SERVICES/SOLUTIONS OFFERED      164

TABLE 132         ADM: DEALS     165

TABLE 133         ADM: OTHERS  165

12.1.2    VALERO             167

TABLE 134         VALERO: COMPANY OVERVIEW             167

FIGURE 42         VALERO: COMPANY SNAPSHOT             168

TABLE 135         VALERO: PRODUCTS/SERVICES/SOLUTIONS OFFERED 168

TABLE 136         VALERO: DEALS             169

TABLE 137         VALERO: OTHERS          169

12.1.3    NESTE  171

TABLE 138         NESTE: COMPANY OVERVIEW  171

FIGURE 43         NESTE: COMPANY SNAPSHOT  172

TABLE 139         NESTE: PRODUCTS/SERVICES/SOLUTIONS OFFERED   172

TABLE 140         NESTE: DEALS  173

TABLE 141         NESTE: OTHERS             175

12.1.4    GREEN PLAINS INC.       177

TABLE 142         GREEN PLAINS INC.: COMPANY OVERVIEW       177

FIGURE 44         GREEN PLAINS INC.: COMPANY SNAPSHOT       178

TABLE 143         GREEN PLAINS INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED          178

TABLE 144         GREEN PLAINS INC.: DEALS       179

TABLE 145         GREEN PLAINS INC.: OTHERS    180

12.1.5    POET, LLC.        181

TABLE 146         POET, LLC: COMPANY OVERVIEW         181

TABLE 147         POET, LLC: PRODUCTS/SERVICES/SOLUTIONS OFFERED              181

TABLE 148         POET, LLC: DEALS         182

TABLE 149         POET, LLC: OTHERS      182

12.1.6    CHEVRON CORPORATION (CHEVRON RENEWABLE ENERGY GROUP)              183

TABLE 150         CHEVRON CORPORATION: COMPANY OVERVIEW         183

FIGURE 45         CHEVRON CORPORATION: COMPANY SNAPSHOT         184

TABLE 151         CHEVRON CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED   184

TABLE 152         CHEVRON CORPORATION: PRODUCT LAUNCHES         185

TABLE 153         CHEVRON CORPORATION: DEALS         185

TABLE 154         CHEVRON CORPORATION: OTHERS      187

12.1.7    CARGILL, INCORPORATED        189

TABLE 155         CARGILL, INCORPORATED: COMPANY OVERVIEW        189

FIGURE 46         CARGILL, INCORPORATED: COMPANY SNAPSHOT        189

TABLE 156         CARGILL, INCORPORATED: PRODUCTS/SERVICES/SOLUTIONS OFFERED   190

TABLE 157         CARGILL, INCORPORATED: DEALS        190

TABLE 158         CARGILL, INCORPORATED: OTHERS     191

12.1.8    WILMAR INTERNATIONAL LTD 192

TABLE 159         WILMAR INTERNATIONAL LTD: COMPANY OVERVIEW 192

FIGURE 47         WILMAR INTERNATIONAL LTD: COMPANY SNAPSHOT 193

TABLE 160         WILMAR INTERNATIONAL LTD: PRODUCTS/SERVICES/SOLUTIONS OFFERED   194

12.1.9    THE ANDERSONS, INC. 195

TABLE 161         THE ANDERSONS, INC.: COMPANY OVERVIEW  195

FIGURE 48         THE ANDERSONS, INC.: COMPANY SNAPSHOT 196

TABLE 162         THE ANDERSONS, INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED          196

TABLE 163         THE ANDERSONS, INC.: DEALS 197

12.1.10  VERBIO AG        198

TABLE 164         VERBIO AG: COMPANY OVERVIEW        198

FIGURE 49         VERBIO AG: COMPANY SNAPSHOT        198

TABLE 165         VERBIO AG: PRODUCTS/SERVICES/SOLUTIONS OFFERED              199

TABLE 166         VERBIO AG: DEALS        199

TABLE 167         VERBIO AG: OTHERS     200

12.1.11  BORREGAARD AS           201

TABLE 168         BORREGAARD AS: COMPANY OVERVIEW           201

FIGURE 50         BORREGAARD AS: COMPANY SNAPSHOT           202

TABLE 169         BORREGAARD AS: PRODUCTS/SERVICES/SOLUTIONS OFFERED          202

TABLE 170         BORREGAARD AS: OTHERS        203

12.1.12  AEMETIS, INC.  204

TABLE 171         AEMETIS, INC.: COMPANY OVERVIEW   204

FIGURE 51         AEMETIS, INC.: COMPANY SNAPSHOT  204

TABLE 172         AEMETIS, INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED              205

TABLE 173         AEMETIS, INC.: DEALS  205

TABLE 174         AEMETIS, INC.: OTHERS             206

12.1.13  RAÍZEN 208

TABLE 175         RAÍZEN: COMPANY OVERVIEW 208

FIGURE 52         RAÍZEN: COMPANY SNAPSHOT 208

TABLE 176         RAÍZEN: PRODUCTS/SERVICES/SOLUTIONS OFFERED  209

TABLE 177         RAÍZEN: DEALS 209

TABLE 178         RAÍZEN: OTHERS           210

12.1.14  FUTUREFUEL CORPORATION   211

TABLE 179         FUTUREFUEL CORPORATION: COMPANY OVERVIEW   211

FIGURE 53         FUTUREFUEL CORPORATION: COMPANY SNAPSHOT   212

TABLE 180         FUTUREFUEL CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED   212

 

12.2       OTHER PLAYERS           213

12.2.1    CROPENERGIES AG       213

12.2.2    BP P.L.C.            214

12.2.3    MÜNZER BIOINDUSTRIE GMBH              215

12.2.4    ALGENOL          215

12.2.5    PANNONIA BIO ZRT.     216

12.2.6    BLUE BIOFUELS, INC.    216

*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.

13          APPENDIX         217

13.1       INSIGHTS FROM INDUSTRY EXPERTS   217

13.2       DISCUSSION GUIDE      218

13.3       KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL             222

13.4       CUSTOMIZATION OPTIONS      224

13.5       RELATED REPORTS       224

13.6       AUTHOR DETAILS         225