What Does the Historical and Current Advanced Biofuels Market Size Trend Indicate?
The advanced biofuels market has seen considerable growth due to a variety of factors.
•In recent times, there has been an exponential rise in the size of the advanced biofuels market. Its size is projected to increase from $116.85 billion in 2024 to $164.68 billion in 2025, climbing at a compound annual growth rate (CAGR) of 40.9%.
This growth during the historic period can be traced back to factors such as renewable energy policies, fluctuating crude oil prices, environmental regulatory measures, investments in research and development, in conjunction with a growing awareness of climate change.
How Will the Advanced Biofuels Market Size Evolve over the Forecast Period?
The advanced biofuels market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the advanced biofuels market is anticipated to experience exceptional growth, projected to reach "$654.34 billion by 2029, with a compound annual growth rate (CAGR) of 41.2%.
The anticipated growth during this forecast period is due to factors such as expansion of production facilities, international partnerships and deals, financial incentives, competitive market conditions, as well as biofuel mandates and targets. Key trends expected during this forecast period encompass tech innovation, policy reinforcement and regulation, diversity in feedstock, the global transition towards sustainable energy, and increased commercial production.
Which Factors Are Boosting Growth In The Advanced Biofuels Market?
The surge in demand from automobile companies is expected to boost the advanced biofuels market's growth. The automobile industry encompasses all firms and initiatives that deal with motor vehicle production, which includes principal components like bodywork and engines but excludes items like tires, batteries, and gasoline. Advanced biodiesel, a second-generation biofuel, caters to the automotive industry by offering an alternative to diesel and gasoline. The push for lower carbon emissions has made advanced biofuels increasingly popular in the automotive sector. For instance, in June 2023, a report by the Department for Transport, a UK government agency, disclosed that the number of licensed vehicles in the UK had risen to 40.7 million by the end of 2022, up 1.0% from December 2021. Consequently, the escalating demand from the automotive sector is spurring the growth of the advanced biofuels market.
What Key Areas Define The Segmentation Of The Global Advanced Biofuels Market?
The advanced biofuels market covered in this report is segmented –
1) By Fuel Type: Cellulosic Ethanol, Biofuel, Biobutanol, BioDME, Other Fuel Types
2) By Processing Technology: Thermochemical, Biochemical
3) By Raw Material: Jatropha, Camelina, Algae, Simple Lignocellulose, Other Raw Materials
Subsegments:
1) By Cellulosic Ethanol: Corn Stover, Sugarcane Bagasse, Wood Chips, Other Biomass Feedstocks
2) By Biofuel: Biodiesel, Renewable Diesel, HVO (Hydrotreated Vegetable Oil)
3) By Biobutanol: A-Biobutanol, B-Biobutanol, Other Butanol Types
4) By BioDME: Produced from Biomass, Produced from Methanol
5) By Other Fuel Types: Biogas, Renewable Jet Fuel, Synthetic Fuels
Pre-Book The Advanced Biofuels Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are Emerging Trends Reshaping The Dynamics Of The Advanced Biofuels Market?
The advanced biofuels market is seeing a growing trend of product innovations. To maintain their market presence, key players in the advanced biofuels market are developing new, innovative products. For instance, PRIO, a biofuels producer based in Portugal, introduced an innovative 30% advanced biofuel blend called ECO Bunkers B30 in February 2023. This brand-new biofuel, made from 30% advanced biofuel derived from waste raw materials, is produced at PRIO's biodiesel facility, before being mixed at their tank terminal in Aveiro.
Who Are the Key Players in the Advanced Biofuels Market?
Major companies operating in the advanced biofuels market include:
• Abengoa Bioenergy Co. LLC
• Algenol Biofuels Inc.
• Chemtex Group
• Bangchak Corporation Public Company Limited (BCP)
• Clariant Produkte GmbH
• Fiberight LLC
• DuPont Industrial Biosciences
• GranBio Investimentos S.A.
• A2BE Carbon Capture LLC
• Fujian Zhongde Energy Co. Ltd.
• Inbicon A/S
• INEOS Technologies Limited
• Poet-DSM Advanced Biofuel LLC
• Green Biologics Ltd.
• ZeaChem Inc.
• Sundrop Fuels Inc.
• Amyris Inc.
• Gevo Inc.
• Renewable Energy Group Inc.
• Novozymes A/S
• LanzaTech Inc.
• Mascoma Corporation
• Solazyme Inc.
• Cool Planet Energy Systems
• Enerkem Inc.
• Butamax Advanced Biofuels LLC
• Codexis Inc.
• Coskata Inc.
• Aemetis Inc.
• Iogen Corporation
• Siluria Technologies
• Kiverdi Inc.
• Alkol Biotech Inc.
What Is The Most Dominant Region In The Advanced Biofuels Market?
North America was the largest region in the advanced biofuels market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global advanced biofuels market report during the forecast period. The regions covered in the advanced biofuels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
