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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Liquid Biofuels Market Share
The production and use of liquid biofuels are critical to lowering CO2 emissions by replacing fossil fuels, hence preventing emissions and permitting CO2 sequestration. Plants and crops used as feedstock for biofuels absorb CO2 as they grow, helping to reduce emissions even further. The focus on ecologically friendly fuels will help in the growth of the liquid biofuels industry.
The liquid biofuel market trends and dynamics suggest that biofuels will gradually replace petroleum oil. Advanced biofuel proponents claim that they are the most accessible and renewable alternative to gasoline and traditional diesel. Biofuels provide a viable alternative to the liquid fuels that power most combustion engines, hence encouraging the continued growth of the liquid biofuels sector.
Biofuel is the only renewable that offers an excellent substitute for the liquid fuels that currently power most combustion engines on the road, facilitating liquid biofuels demand growth.
Liquid Biofuels Market Report Snapshots
Liquid Biofuels Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global Liquid Biofuels market attained a value of nearly USD 78.4 billion.
The global Liquid Biofuels market is assessed to grow at a CAGR of 6.30% between 2024 and 2032.
The increasing demand for liquid bioethanol and biodiesel from the transportation industry and rising adoption of passenger vehicles are the major drivers of the market.
The key trends in the market include the stringent regulations of the government aimed towards curbing the emission of greenhouse gases, and growing applications of liquid bioethanol in the food and beverage industry for cooking.
The leading product segments in the market are biodiesel and ethanol.
Vehicle fuel, heat generation, lubrication, reduction of emission, and cooking, among others, are the significant applications based on which the market has been segmented.
The significant modes of process of Fermentation, Transesterification, and Others.
Liquid biofuels are majorly used in the transportation sector as vehicle fuel. They are also used by various industries including chemical, energy, and food and beverage, among others.
Liquid biofuels are less flammable as compared to the conventional fuels such as gasoline and diesel. Also, these types of fuels emit less carbon and greenhouse gases.
The competitive landscape consists of Archer-Daniels-Midland Company, POET, LLC., Eniven Group, Enerkem, Gevo, Inc., Bangchak Corporation Public Company Limited, and Fulcrum BioEnergy, among others.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 135.8 billion by 2032.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124