Overview:

The global advanced biofuels market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. The fuels which are produced using various waste products are called as biofuels. The waste material includes agricultural waste, urban waste, non-food waste, and some others. Cellulosic ethanol is a commonly known biofuel and its use is increasing in the automotive fuel.

Market Dynamics:

Growing consumption of fuels across the globe is resulting high demand for advanced biofuels, which is a key factor driving growth of the global advanced biofuels market. Increasing trade activity, rising disposable income, and growing transportation sector are some other factors supporting growth of the fuel demand.

In addition, rising preference to reduce conventional fuel dependency is another major factor expected to propel growth of the target market. Additionally, growing focus on carbon footprint reduction is another key factor driving growth of the global market. Advanced biofuel helps to reduce the carbon hence the preference for mixing of biofuels with petroleum fuel is growing across the globe.

Moreover, easy availability of raw materials to produce the advanced biofuels is among the other factor expected to result in growth of the global advanced biofuels market in the near future.

Key Trends:

Rising strategic initiatives for investment and funding among key players is a key trend witnessed in the global advanced biofuels market. For instance, in November 2020, NWABF (Northwest Advanced Bio-Fuels) has announced that it is in discussion with investor for final funding for its SAF project. The plant has the capacity to produce 60 million gallons aviation fuel.

Regional Analysis:

For detailed understanding of market dynamics, the global advanced biofuels market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America has contributed major market share in the global market in 2019 and is expected to maintain its dominance over the forecast period. This is attributed to wide presence of key players and strong government support for biofuels in countries in the region. However, the target market in Asia Pacific region is expected to witness significant growth over the forecast period followed by the market in the Europe over the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Advanced Biofuels Market, By Process:

• Biochemical Process
• Thermochemical Process

Global Advanced Biofuels Market, By Biofuel Type:

• Cellulosic Biofuels
• Biodiesels
• Biogas
• Biobutanol
• Other Type

Global Advanced Biofuels Market, By Raw Material:

• Lignocellulose
• Jatropha
• Camelina
• Algae
• Other Raw Material

Key Players Covered:

Key players operating in the global advanced biofuels market includes Algenol Biofuels, A2BE Carbon Capture, LLC, Chemtex Group, KiOR Inc., DuPont Industrial Biosciences., Sundrop Fuels, Inc., LanzaTech Inc., China Petroleum & Chemical Corporation (Sinopec), Boris Johnson Inc., and Green Biologics Inc.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Advanced Biofuels Market by process, biofuel type, raw material, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global advanced biofuels market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.