Liquid based Biofuels
In 2019, the global liquid-based biofuels market is valued at approximately US$ 137.4 billion, with a corresponding volume of 160 billion liters. Over the past two decades, liquid-based bioethanol production has witnessed a tenfold increase. Notably, the bioethanol segment claims the largest revenue share, exceeding 80% in 2019. This dominance is attributed to the global shift toward renewable energy resources, particularly within the transportation sector.
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Insights, Trends, and Key Developments in the Global Liquid-based Biofuels Market:
Researchers and ethanol producers are dedicated to enhancing ethanol yield and production efficiency through ongoing research and development initiatives.
In June 2019, a group of researchers introduced a two-step method designed to improve bioethanol production efficiency. This innovative process focuses on the efficient breakdown of carbohydrates into single sugar components.
Cellulosic ethanol presents a compelling opportunity for emissions reduction, making it an environmentally friendly alternative to fossil-based transport fuels. This innovation is particularly attractive for reducing agricultural residue burning in fields. Key regions leading in cellulosic ethanol development include the United States, Brazil, Europe, and India, where complementary industry and agricultural sectors, coupled with policy support, are driving significant growth in this segment.
Global Liquid-based Biofuels Market by Product and Source Type:
Among product types, the bioethanol segment presently dominates the liquid-based biofuels market, reaching US$ 112.5 billion in 2019. The North and South American markets for bioethanol collectively hold over 85% of the global revenue share, primarily fueled by increased adoption in the transportation sector. In the biodiesel segment, Europe is projected to account for over 40% of revenue share in 2019.
Global Liquid-based Biofuels Market by Region:
The United States and Brazil stand out as the largest producers of bioethanol, jointly contributing to over 80% of global production share. Stringent regulations and government initiatives have driven this production dominance. Brazil, for instance, mandates a 27% ethanol blend for gasoline since March 2015, resulting in increased ethanol adoption in the transportation sector. Sugarcane is the major contributor, representing over 60% of ethanol production in 2019.
Comparatively, India has set an ethanol blend mandate between 4-5%, with a target to reach 10% by 2022. This gradual increase creates opportunities for local and regional players in the Indian market.
South Africa and Mexico are at early stages of biofuel adoption for transportation. Therefore, market development and the application of advanced technologies for production are critical in these regions.
Global Liquid-based Biofuels Market Size and Forecast: Competition Landscape
Key players are actively engaging in partnerships and acquiring new production technologies to enhance their market presence and expand production capacity.
In August 2019, NewEnergyBlue acquired bio-conversion technology rights for biofuel production from Inbicon.
Praj Industries, in August 2019, signed a cooperation agreement with Dedini S/A Indústrias de Base, a Brazil-based ethanol producer, to offer ethanol production technologies to the Brazilian market.
Some prominent players in the liquid-based biofuels market include Cargill, Incorporated; The Archer Daniels Midland Company; POET; Pacific Ethanol, Inc. (Aventine Renewable Energy Holdings, Inc.); Abengoa S.A.; Flint Hills Resources LP; Renewable Energy Group; Valero Energy Corporation; Green Plains Renewable Energy; and The Andersons, Inc.
Research Scope:
By Product Type:
Ethanol
Biodiesel
Others
By Source Type:
Maize
Sugar Crops
Wheat
Molasses
Cellulose Biomass
Vegetable Oils
Others
By Application:
Light Passenger Vehicles
Road Freight
Shipping and Aviation
