According
to study, “Global
Biofuel and Biodiesel Market Size study, by Type (Bioethanol, Biodiesel), by
Application (Agriculture, Transportation, Chemical, Pharmaceuticals) and
Regional Forecasts 2018-2025” some of the major companies that are
currently working in the global biofuel and biodiesel market are Diester
Industries, Infinita Renovables, ADM, Neste Oil Rotterdam, Ital Green Oil,
VERBIO Vereinigte Bioenergie KG, Greenfield Specialty Alcohols Inc., Biopetrol,
Renewable Energy Group Inc., Cargill Inc.,AI Liquide SA, Abengoa Bioenergy,
S.A., Ag Processing, Solazyme Inc., Wilmar International Ltd., Louis Dreyfus, Glencore,
Marathon Petroleum Corporation, RBF Port Neches, Evergreen Bio Fuels, Elevance,
Minnesota Soybean Processors, Hebei Jingu Group, Caramuru, Shandong Jinjiang,
Jinergy,Flint Hills Resources, China Clean Energy Inc., Novozymes A/S, My Eco
Energy, Granbio, Longyan Zhuoyue, Abengoa Bioenergy, Dupont Industrial
Biosciences, Western Dubuque Biodiesel LLC, BTG International Ltd.,
CropEnergies AG, Aventine Renewable Energy Holdings Inc., Poet-DSM Advanced
Biofuels LLC, Archer Daniels Midland, Algenol Biofuels, Petrobras, The
Andersons, Fiberight LLC, Valero, Australian Renewable Fuels Ltd., Inbicon,
Clariant SE, Zeachem Inc., Pacific Ethanol Inc., CropEnergies, Blue Fire
Renewables, Green Plains, Raizen.
Biofuel is a fuel which is derived from biomass including plant,
algae material or animal waste. The feed stock material can be replenished
readily. Biofuel is considered to be a basis or source of renewable energy,
unlike fossil fuels for instance petroleum, coal, and natural gas. The biodiesel
is a typically made by reacting lipids with an alcohol producing fatty acids. The
use of liquid biofuels is of larger interest areas due to the large
infrastructure on place to use them, especially for transportation. The liquid
biofuel is of the greatest production which is used as ethanol (ethyl alcohol),
made by fermenting starch or sugar.
Biofuel
have some of the major advantages such as easy to source, cost benefit, lower
level of pollution, renewable, economic security, less dependence on fossil
fuel oils. Moreover, some of the other major benefits of using biodiesel include
the produced from the renewable energy resources followed by less green house
gas emissions, which are used in the existing diesel engines, biodegradable and
non-toxic, positive economic impact, cleaner biofuel refineries, and so on.
Based
on product type, global biofuel and biodiesel market is segmented into
biodiesel and bioethanol. Based on feed stock market is segmented into
jetropha, sugar crop, molasses, coarse grain, vegetable oil and others. Based
on application, market is segmented into chemical, transportation, agriculture and
pharmaceuticals.
The
global biofuel and biodiesel market is driven by supportive adoption of
bio-based fuel alternatives and volatility in cost of petroleum, growing demand
for vegetable oil as a feed stock, changing consumer taste and preference,
rising living standards, and low cost of biofuels in comparison to other
vegetable oils. The major restraining factors of the market include high
production cost of oil compared to conventional fuel and fluctuation in the global
oil prices.
In
global biofuels market, Asia-pacific region is the leading region as a result
of cost efficient availability of feed stock. Moreover, the biodiesel market in
European region is dominating province across the globe in the provisions of
market owing to Germany as a major producer for biodiesel in the region. It is
predicted that the global biofuel and biodiesel market to remain bright owing
to improving economic conditions, stringent rules and regulations and growing
interest in clean and alternative fuel.
For more information on the research report,
refer to below link:
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