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Global Biofuels Market Size, Share, Trends, Forecast: By Product: Biodiesel, Ethanol, Wood Pellets, Others; By Form: Solid Biofuel, Liquid Biofuel, Gaseous Biofuel; By Feedstock: Corn, Sugarcane, Vegetables Oils, Others; By Application: Transportation, Aviation, Energy Generation, Heating, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Biofuels Market Outlook
The global biofuels market size reached approximately 176.61 billion litre in 2023. The market is assessed to grow at a CAGR of 4.5% between 2024 and 2032 to attain a volume of around 261.88 billion litres by 2032.
Key Trends in the Market
Biofuel refers to a fuel that is derived from biomass such as algae, animal waste, or plants. It is a renewable energy source and serves as a viable alternative to fossil fuels like coal, petroleum, and natural gas. Some common types of biofuels are biodiesel and ethanol, among others, which are widely used in the transportation sector.
- One of the major biofuels market trends is the increasing preference for clean fuel and the rising awareness regarding the environmental impact of traditional fuels. Biofuels can be produced from oils and animal fats, sugar and starch crops, and cellulose, among others, emit fewer carbon emissions, and enhance the air quality of a surrounding.
- Governments globally are focusing on reducing their dependency on fossil fuels due to depleting petroleum resources and energy shortages. Moreover, the rising attempts to reduce oil imports amid increasing concerns about supply chain disruptions and price volatility are supporting the biofuels market growth.
- Increasing research activities aimed at developing innovative technologies for the production of low-carbon and affordable fuels are likely to aid the biofuels market demand in the forecast period. Besides, surging investments aimed at developing biofuels from innovative raw materials such as algae are anticipated to bolster the market in the coming years.
Market Analysis
Based on product, the market is segmented into biodiesel, ethanol, and wood pellets, among others. On the basis of form, the market can be divided into solid biofuel, liquid biofuel, and gaseous biofuel. By feedstock, the biofuels market segmentations include corn, sugarcane, and vegetable oils, among others.
The various applications of biofuels include transportation, aviation, energy generation, and heating, among others. The major regional markets for biofuels include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global biofuels market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Archer Daniels Midland Company
- Shell Plc
- Wilmar International Ltd.
- Cargill, Incorporated
- Chevron Corporation
- BP Plc
- Green Plains Inc.
- Abengoa S.A.
- Gevo, Inc.
- POET, LLC
- Others
Market Share by Application
As per the biofuels market analysis, the transportation sector accounts for a significant market share. With the increasing attempts to decarbonise transportation modes, there has been a rapid shift towards biofuels. Emerging economies like India, Brazil, and Indonesia are witnessing a surge in the use of diesel and gasoline vehicles, surging the usage of biofuels as blending agents.
Market Share by Region
The demand and production of biofuels is significantly growing in Latin America and North America. Brazil has emerged as a leading producer of biofuels due to its high sugarcane yield, and the Brazilian government has introduced stringent regulations to mandate the blending of ethanol with gasoline.
The Asia Pacific also represents a significant portion of the biofuels market share, aided by the growing demand for liquid biofuels and the increasing export-driven demand for the product. Governments in countries such as Malaysia, Indonesia, and India are also introducing blending targets and ethanol policies. Moreover, diverse climate conditions, ranging from subtropical and temperate to tropical zones, in the region are surging the cultivation of palm, sugarcane, and oilseed, significant raw materials of biofuels.
Competitive Landscape
Wilmar International Ltd., founded in 1991, is an agriculture business, headquartered in Singapore. It encompasses the agricultural commodity value chain, ranging from cultivation and milling to the development of industrial agri-products and animal feeds. The company owns 500 manufacturing facilities and its products are distributed in over 50 regions and countries.
Shell Plc is a prominent petrochemicals and energy company, with its headquarters in London, the United Kingdom. Established in 1907, the company aims to drive the transition towards clean and sustainable energy solutions. It has a wide presence in over 70 countries, and it is involved in integrated gas and upstream exploration, renewable, downstream, and energy solutions, and greenhouse gas management, among others.
Chevron Corporation is a renowned integrated energy company that intends to offer clean, reliable, and affordable energy. It is engaged in the manufacturing of petrochemicals, transportation fuels, additives, and lubricants, and is known as a prominent producer of natural gas and crude oils.
Other biofuels market players include Archer Daniels Midland Company, Cargill, Incorporated, BP Plc, Green Plains Inc., Abengoa S.A., Gevo, Inc., and POET, LLC, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Form |
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| Breakup by Feedstock |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Biofuels Market Analysis
8.1 Key Industry Highlights
8.2 Global Biofuels Historical Market (2018-2023)
8.3 Global Biofuels Market Forecast (2024-2032)
8.4 Global Biofuels Market by Product
8.4.1 Biodiesel
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Ethanol
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Wood Pellets
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Biofuels Market by Form
8.5.1 Solid Biofuel
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Liquid Biofuel
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Gaseous Biofuel
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Biofuels Market by Feedstock
8.6.1 Corn
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Sugarcane
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Vegetables Oils
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Biofuels Market by Application
8.7.1 Transportation
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Aviation
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Energy Generation
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Heating
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Others
8.8 Global Biofuels Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Biofuels Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Biofuels Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Biofuels Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Biofuels Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Biofuels Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code – 3826)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Importing Countries
15.2.1 By Value
15.2.2 By Volume
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Archer Daniels Midland Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Shell Plc
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Wilmar International Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Cargill, Incorporated
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Chevron Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 BP Plc
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Green Plains Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Abengoa S.A.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Gevo, Inc.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 POET, LLC
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Biofuels Market: Key Industry Highlights, 2018 and 2032
2. Global Biofuels Historical Market: Breakup by Product (Billion Litre), 2018-2023
3. Global Biofuels Market Forecast: Breakup by Product (Billion Litre), 2024-2032
4. Global Biofuels Historical Market: Breakup by Form (Billion Litre), 2018-2023
5. Global Biofuels Market Forecast: Breakup by Form (Billion Litre), 2024-2032
6. Global Biofuels Historical Market: Breakup by Feedstock (Billion Litre), 2018-2023
7. Global Biofuels Market Forecast: Breakup by Feedstock (Billion Litre), 2024-2032
8. Global Biofuels Historical Market: Breakup by Application (Billion Litre), 2018-2023
9. Global Biofuels Market Forecast: Breakup by Application (Billion Litre), 2024-2032
10. Global Biofuels Historical Market: Breakup by Region (Billion Litre), 2018-2023
11. Global Biofuels Market Forecast: Breakup by Region (Billion Litre), 2024-2032
12. North America Biofuels Historical Market: Breakup by Country (Billion Litre), 2018-2023
13. North America Biofuels Market Forecast: Breakup by Country (Billion Litre), 2024-2032
14. Europe Biofuels Historical Market: Breakup by Country (Billion Litre), 2018-2023
15. Europe Biofuels Market Forecast: Breakup by Country (Billion Litre), 2024-2032
16. Asia Pacific Biofuels Historical Market: Breakup by Country (Billion Litre), 2018-2023
17. Asia Pacific Biofuels Market Forecast: Breakup by Country (Billion Litre), 2024-2032
18. Latin America Biofuels Historical Market: Breakup by Country (Billion Litre), 2018-2023
19. Latin America Biofuels Market Forecast: Breakup by Country (Billion Litre), 2024-2032
20. Middle East and Africa Biofuels Historical Market: Breakup by Country (Billion Litre), 2018-2023
21. Middle East and Africa Biofuels Market Forecast: Breakup by Country (Billion Litre), 2024-2032
22. Major Exporting Countries by Value
23. Major Importing Countries by Value
24. Major Exporting Countries by Volume
25. Major Importing Countries by Volume
26. Global Biofuels Market Structure
Key Questions Answered in the Report
In 2023, the market attained a volume of nearly 176.61 billion litre.
The market is assessed to grow at a CAGR of 4.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about 261.88 billion litre by 2032.
The key trends aiding the market are the growing focus on renewable energy sources and the increasing focus by governments to enhance their energy security.
The key trends aiding the market are the development of biofuels from innovative raw materials and surging research activities aimed at developing innovative technologies for the production of low-carbon and affordable fuels.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major forms of biofuels are solid biofuel, liquid biofuel, and gaseous biofuel.
The major players in the market are Archer Daniels Midland Company, Shell Plc, Wilmar International Ltd., Cargill, Incorporated, Chevron Corporation, BP Plc, Green Plains Inc., Abengoa S.A., Gevo, Inc., and POET, LLC, among others.
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