Biofuels Market Report studies in detail the industry dynamics of the global Biofuels Industry. The Market Dynamics consists of the Opportunities, Trends and Challenges that are effective for the global Biofuels Industry.
The demand for secure, sustainable and clean energy supply is expected to propel the demand for biofuels across the globe. On account of higher mandates for biofuel blending in automotive fuels and increasing government support for eco-friendly alternatives, the global consumption of biofuel is expected to further grow at a significant level during the forecast period.
Biofuels (ethanol and biodiesel) represent the majority share of renewables in global energy demand for road transport. Demand for bioenergy in the transportation sector is driven by blending mandates in significant economies and by sustained fuel use around the world.
The global ethanol and biodiesel prices continued to decrease in nominal terms in 2015, owing to weak crude oil and biofuel feedstock prices. However, with recovery in both crude oil and biofuel feedstock prices, international prices of ethanol and biodiesel are expected to recover during the forecast period.
The United States, China, and Brazil are expected to exhibit maximum growth during the forecast period due to their mandates of biofuel blending. China is the most promising market for biofuels due to increasing energy security concerns and commitment to reduce the carbon emission levels.
Mandates Set by Various Countries to Drive the Market
The demand for biofuel has significantly increased over the past decade by policies, such as the Renewable Energy Directive (RED) and the Fuel Quality Directive of the European Union region, which has introduced a 7% renewable energy coming from food and feed crops in the transport sector by 2020. Moreover, the ambitious mandates set by various countries to blend biofuels with conventional fuels, to lessen the dependency on fossil fuels, has further boosted the demand for biofuels across the world.
According to the blending mandates set by the US, China, and Brazil, 15-27% blend of biofuels with conventional fuel by 2020-2022. This reform is expected to drive global demand in the respective regions. Moreover, to achieve the ambitious target, countries, such as the US, Germany, France, and Italy have implemented fuel excise tax reduction to help biofuel to compete with fossil fuels. These reforms promote the use of biofuel blend with conventional fuels. In addition, low carbon energy targets and related policies are being set up to encourage the usage of biofuels.
Asia-Pacific Exhibits Great Potential for Growth in the Future
Although the growth of biofuel, particularly ethanol production in the Asia-Pacific region, has been on the slower side till now, there is increasing trend of stricter biofuel blending policies in various countries. This, in turn, is expected to spur a wave of investment in biodiesel production across countries in the Asia-Pacific region.
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Major companies covered in this Report:
- Abengoa Bioenergy S.A.
- BTG International Ltd
- Wilmar International Ltd
- Renewable Energy Group
- Archer Daniels Midland Company
- VERBIO Vereinigte BioEnergie AG
- My Eco Energy
- China Clean Energy Inc.
- CropEnergies AG
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In the end, the Biofuels Market report makes some important proposals for a new project of Biofuels Industry before evaluating its feasibility. Overall, the report provides an in-depth insight of 2013-2023 Global Biofuels Market covering all important parameters.