Global Bio Fuels Market Expected to Inflate at CAGR 5.7% By 2023

Market Highlights:-

he automobile plays an important role in displacing fossil fuels and is a cleaner and renewable alternative. Also, the use of biofuels in fuel mix reduces toxic emissions from transport sector and helps achieve climate change targets. Furthermore, the biofuel blend has a very positive impact on improving the air quality and reduce particulate emissions. This in turn will improve health standards and can have positive impacts on the environment. The use of biofuel blend has been made mandatory in several countries as they also qualify for carbon credits.

The versatile nature of bio fuels happens to be the essential growth driver for the market. They have the ability to be utilized in traditional engines with almost little to no modification. The development in the automobile sector is another aspect that propels the growth of the market.

Additional factors that further foster the development of the market can be enlisted as speedy economic development in the developing countries, usage of bio fuels in algae bio fuel technology & cellulosic, initiatives & campaigns by the government in favor of this product and lastly higher margin of investments in research & development activities.

Market Players & Growth Strategies:-

Bio fuels market has been a major business hub for several stakeholders as it is progressing at a rapid pace. Some of the oldest and most efficient players in this market can be listed as Infinita Renovables SA, Renewable Energy Group, Inc., Cosan S.A. Industria E Comercio and INEOS Group AG.

To have a profitable business, these players are required to keep updating themselves with the ongoing industry trends. Additionally, they also happen to utilize various strategies like acquisition, new product development and partnerships with other organizations.

Comprehensive Regional Analysis:-

Asia Pacific is not that far behind and will progress during the forecast period. The main reason for this is the presence of countries like China and India in this area. These two countries happen to be massive consumers of bio fuels namely ethanol.

The bio fuels market has accomplished the goal of instituting itself on a global level. Over the years it has outreached many major countries and regions of the world. Some of the main areas where its prominence can be observed are Asia Pacific, Middle East & Africa, North America and Rest of the World.

North America and Europe happen to be the leading regions for this particular market. The cause for development in these areas is the nod of approval and efforts taken by the government to promote these products. Apart from that this area also observes a constant flow of monetary funds that help in carrying out research and development activities.

The market is predominantly driven by the use of biofuels in the transportation and aviation sectors. Because of this, the major automobile and aviation manufacturers are coming up with biofuel compatible engines and power trains. The market is driven by the favourable regulations and policies in the North American and the European regions. Constant investment in research and development of bio fuels and increased focus to commercialise biofuels in these regions is driving this trend. The Asia-Pacific region is expected to see major growth because of countries such as China and India, which are growing as prime consumers of biofuels especially ethanol.

Industry News

April 16, 2018 – Red Rock Biofuels a major player in this market recently declared that it will be starting the construction process on a new plant in south-central Oregon. This facility is anticipated to annually convert around 136,000 tons of woody bio mass and forest bi-products into 15 million gallons of renewable fuels.

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The report for Global Bio Fuels Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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