Dublin, Jan. 23, 2025 (GLOBE NEWSWIRE) — The “Biofuels Market Report 2025” has been added to ResearchAndMarkets.com’s offering.
This Biofuels market report covers market characteristics, size & growth, segmentation, regional & country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The biofuels market size has grown strongly in recent years. It will grow from $175.24 billion in 2024 to $188.9 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to energy security concerns, volatility in oil prices, government incentives.
The biofuels market size is expected to see strong growth in the next few years. It will grow to $258.09 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to renewable energy targets, advancements in feedstock production, rising public awareness, emerging economies’ adoption. Major trends in the forecast period include advanced biofuels development, technological innovations, integration with conventional fuels, market consolidation.
Rising petroleum prices are anticipated to drive growth in the biofuel market. The consistent increase in petrol and diesel prices worldwide can be attributed to escalating crude oil costs and heightened taxation. Additionally, the Russia-Ukraine war has significantly contributed to the sharp rise in global petroleum prices. Other factors leading to increased crude oil prices include market tightness, uncertainty regarding supply and demand, geopolitical developments, concerns over potential future supply disruptions, and speculation affecting the petroleum market. As a result of these rising petroleum prices, there is an increased demand for biofuels as a renewable and less combustible alternative to fossil diesel, which helps reduce the carbon footprint of transportation and various industries.
The rising demand for energy in the transportation sector is expected to propel the growth of the process oil market going forward. For instance, in September 2023, the International Air Transport Association (IATA), a Canada-based trade association representing the airline industry, reported a significant increase in total traffic for July 2023, with a 26.2% rise compared to July 2022, resulting in the highest-ever recorded July revenue passenger kilometers (RPKs). Therefore, the rising passenger traffic in the transportation sector is expected to propel the growth of the biofuels market.
Leading companies in the biofuels market are concentrating on creating innovative solutions, such as biofuel blend bunkers, to enhance production efficiency and lower costs through new technologies. For example, in August 2024, Bharat Petroleum Corporation Limited (BPCL), an India-based petroleum refinery, introduced a High Flash High-Speed Diesel (HFHSD) bunker. This product provides a cleaner, biodegradable alternative to traditional fuels, promoting decarbonization and sustainability within the maritime industry. This initiative not only strengthens BPCL’s position in the bunkering market but also fosters economic growth and energy security at Mumbai Port.
North America was the largest region in the biofuel market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biofuels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the biofuels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
Report Scope
Markets Covered:
1) By Form: Solid Biofuel; Liquid Biofuel; Gaseous Biofuel
2) By Product Type: Biodiesel; Ethanol; Biogas; Others Products
3) By Feedstock: Coarse Grain; Non-Agri Feedstock; Biomass; Vegetable Oil; Sugar Crop; Jatropha; Other Feedstocks
Subsegments:
1) By Solid Biofuel: Wood Pellets; Agricultural Residues; Dedicated Energy Crops; Biomass Briquettes
2) By Liquid Biofuel: Bioethanol; Biodiesel; Renewable Diesel; Bio-Jet Fuel
3) By Gaseous Biofuel: Biogas; Biomethane; Hydrogen From Biomass
Key Companies Profiled in the Biofuels Market: The Archer-Daniels-Midland Company; Abengoa S.A.; Renewable Energy Corporation; Wilmar International Limited; Poet LLC
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025 – 2029 |
| Estimated Market Value (USD) in 2025 | $188.9 Billion |
| Forecasted Market Value (USD) by 2029 | $258.09 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
The major companies featured in this Biofuels market report include:
- The Archer-Daniels-Midland Company
- Abengoa S.A.
- Renewable Energy Corporation
- Wilmar International Limited
- Poet LLC
- Praj Industries Limited
- Raven SR Inc.
- Shell PLC
- Sustainable Oils
- UPM-Kymmene Oyj
- Velocys Inc.
- Virent Energy Systems Inc.
- Aemetis Inc.
- Amyris Inc.
- Anellotech Inc.
- Avantium Technologies B.V.
- Axens Technologies (IFP)
- Cargill Inc.
- Chevron Corporation
- Clariant International AG
- Corbion N.V.
- DG Fuels
- Diamond Green Diesel LLC
- Dimeta
- DMC Biotechnologies Inc.
- Enerkem Inc.
- Fidelis New Energy LLC
- Fluid Quip Technologies LLC
- Genofuel
- Gevo Inc.
- Ginkgo BioWorks
- GranBio
- Green Plains Inc.
- Haldor Topsoe A/S
- Honeywell International Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qvt2vd
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