The Bio-Fuel Market size was valued at USD 135.7 billion in 2019 is expected to grow at a compound annual growth rate (CAGR) of of 6.9% over the forecast period.
The term “biofuels” refers to fuels made from plant, animal, or algal material. They are regarded as a renewable fuel since the feedstock material they use may be regenerated more quickly than traditional fossil fuels.
Increasing awareness of the need to reduce carbon emissions and the scarcity of resources derived from fossil fuels are two reasons that are predicted to propel the industry. Additionally, it is projected that the availability of different supportive regulatory regulations and financial incentives for the use of biofuels will increase their demand, particularly in the transportation sector.
In the future, biofuels are being considered as one of the greener fuel alternatives to traditional fossil fuels. Additionally, the availability of funds for research and development to produce biofuels at a reduced cost will accelerate their use. The market will increase even more over the course of the projected period as a result of continuous research into the commercialization of second- and third-generation biofuels.
Key players covered in Bio-Fuel Market:
Jilin Fuel Ethanol
Tangshan Jin Lihai Biodiesel
Guangzhou Devotion Thermal Technology
Jiangsu Hengshunda Bio-Energy
Louis Dreyfus Commodities
Fujian Zhongde Energy
Jiangsu Yueda Kate New Energy
Longyan Zhuoyue New Energy
Archer Daniel Midland
Renewable Energy Group
Henan Tianguan Enterprise Group
Gushan Environmental Energy
Shandong Jinjiang Bioenergy Technology
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Bio-Fuel Market in these regions:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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