Global Liquid Biofuels Market Report and Forecast 2024-2032

Global Liquid Biofuels Market Size

The global liquid biofuels market value of USD 78.4 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.30% to reach a value of USD 135.8 billion by 2032.

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Global Liquid Biofuels Market Growth

Liquid biofuel is a renewable energy source made from biomass. It has the same qualities as gasoline, petrol, and diesel, among other traditional types of biofuels. Liquid biofuels can replace conventional fuel types, making them useful in a variety of end-use sectors for power generation, which drives the demand of the liquid biofuels market.

Global Liquid Biofuels Market Analysis

The liquid biofuels market is expanding due to rising demand for liquid bioethanol and biodiesel in the transportation industry. The growing popularity of passenger automobiles is ensuring the continued liquid biofuels industry growth.

Increasing demand for biofuels from a variety of industries, including chemical, energy, and food and beverage, as well as rising industrialisation in developing nations, is boosting the liquid fuel market. The strict laws enacted by various governments to reduce greenhouse gas emissions further enable the growth of the liquid biofuels market.

Global Liquid Biofuels Industry Outlook

As per statistical review of world energy, the 2023 global biofuel production data highlights North America as the leading region, contributing 514 TWh, followed by the Asia Pacific with 262 TWh. Europe and South and Central America also play significant roles, producing 194 TWh and 314 TWh, respectively. The combined total production stands at 1,285 TWh. The Middle East, CIS, and Africa have minimal contributions, each producing less than 1 TWh. This data underscores the dominance of North America and the Asia Pacific in the biofuels market, driven by advanced technologies, supportive policies, and high energy demands.

As per statistical review of world energy, in 2023 biofuel energy production graph reveals the United States as the clear leader, generating 498.63 TWh, significantly outpacing other nations. Brazil follows with 282.12 TWh, indicating strong biofuel capabilities in the Americas. Germany's production stands at 44.41 TWh, leading Europe, while the United Kingdom and Mexico contribute 8.38 TWh and 0.41 TWh, respectively. The steep growth in the U.S. and Brazil highlights their advanced biofuel industries, driven by robust policies and technological advancements. Germany's steady increase reflects its commitment to sustainable energy. The data underscores the competitive landscape, with major players leveraging innovation and government support to enhance their market positions in the global liquid biofuels sector.

As per USDA, the Indian government has significantly increased its budget allocation for the sugar industry to enhance ethanol production capacity. For the fiscal year 2022-2023, the initial budget was USD 36.29 million, later revised to USD 31.43 million. In 2023-2024, the budget surged to USD 48.38 million, reflecting a substantial 54% increase from the previous year’s revised budget. This strategic investment aims to bolster ethanol production, aligning with India's goals for energy self-sufficiency and sustainable fuel alternatives is driving growth in the liquid biofuels industry.

The global liquid biofuel market is being pushed by rising demand for sustainable energy sources and government subsidies for renewable energy.

• Liquid biofuel is an energy-efficient alternative that helps to reduce the pollution and hazards connected with fossil fuel burning.

• Government and International Organization’s rising emphasis on renewable energy and mitigation strategies of climate fuels liquid biofuels market demand.

The market confronts problems due to feedstock scarcity and high manufacturing prices.

• Liquid biofuel manufacturing frequently includes complex processes and expensive expenses, especially for advanced biofuels such as cellulosic ethanol and algae-based biofuel.

• The uncertain raw material prices have a direct detrimental impact on the total market growth.

Emerging technologies and growing applications present an expansion of liquid biofuels market opportunities.

• Advances in biotechnology and chemical engineering are increasing biofuel production efficiency and yield, presenting enormous growth opportunities.

• Biofuels are now being used for heating, energy generation, and the creation of bio-based chemicals and materials, in addition to transportation.

The market is characterized by high rivalry and regulatory uncertainty.

• The liquid biofuel business is extremely competitive, with many companies attempting to create cost-effective and efficient production processes.

• Fluctuating legislation and policy changes can cause uncertainty, affecting investment and market stability.

Key Players in the Global Liquid Biofuels Market and their Key Initiatives

Archer-Daniels-Midland Company

• Invested in the expansion of biofuels production facilities to enhance capacity and efficiency.

• Partnered with innovative startups to develop next-generation biofuels technologies to capture the liquid biofuel market opportunities.

POET, LLC.

• Launched a project to convert agricultural waste into renewable biofuels.

• Expanded its research and development efforts to improve biofuel yields and sustainability.

Eniven Group

• Implemented advanced biorefinery processes to increase production efficiency and reduce costs.

• Developed strategic partnerships to enhance market reach and product innovation to meet the growing demand of the liquid biofuel market.

Enerkem

• Focused on converting non-recyclable waste into biofuels, promoting circular economy practices.

• Achieved significant milestones in scaling up commercial production of advanced biofuels.

Gevo, Inc.

• Advanced its technology to produce sustainable aviation fuel (SAF) from renewable resources.

• Secured key contracts with major airlines to supply SAF, boosting market presence and credibility.

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Global Liquid Biofuels Industry Segmentation

“Global Liquid Biofuels Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Biodiesel

• Ethanol

Market Breakup by Application

• Vehicle Fuel

• Heat Generation

• Lubrication

• Reduction of Emission

• Cooking

• Others

Market Breakup by Process

• Fermentation

• Transesterification

• Others

Market Breakup by End User

• Transportation

• Electronics

• Commercial

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Liquid Biofuels Market Share

The production and use of liquid biofuels are critical to lowering CO2 emissions by replacing fossil fuels, hence preventing emissions and permitting CO2 sequestration. Plants and crops used as feedstock for biofuels absorb CO2 as they grow, helping to reduce emissions even further. The focus on ecologically friendly fuels will help in the growth of the liquid biofuels industry.

The liquid biofuel market trends and dynamics suggest that biofuels will gradually replace petroleum oil. Advanced biofuel proponents claim that they are the most accessible and renewable alternative to gasoline and traditional diesel. Biofuels provide a viable alternative to the liquid fuels that power most combustion engines, hence encouraging the continued growth of the liquid biofuels sector.

Biofuel is the only renewable that offers an excellent substitute for the liquid fuels that currently power most combustion engines on the road, facilitating liquid biofuels demand growth.

Leading Companies in the Liquid Biofuels Market

The companies specialise in advanced renewable technologies and sustainable solutions, focusing on biofuels, chemicals, and novel engineering methods to improve environmental sustainability and energy efficiency.

• Archer-Daniels-Midland Company

• POET, LLC.

• Eniven Group

• Enerkem

• Gevo, Inc.

• Bangchak Corporation Public Company Limited

• Fulcrum BioEnergy

• Others

Key Highlights of the Report

Liquid Biofuels Market Report Snapshots

Liquid Biofuels Market Size

Liquid Biofuels Market Growth

Liquid Biofuels Market Analysis

Liquid Biofuels Market Share

Liquid Biofuels Companies