Coherent Market Insights published innovative data entitled Advanced Biofuel Market. This report uses an exploratory technique, such as primary and secondary research, which helps to discover the desired data. It focuses on a global scenario such as Advanced Biofuel to learn the global strategy of industries and study the various regions such as North America, Latin America, China, Japan, Asia, and India.
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Advanced biofuels are fuels manufactured from various type of biomass, which includes waste from agricultural, urban, and other wastes. It also known as second-generation biofuels. These biofuels are made from woody crops or lignocellulosic biomass, sugars, non-starch, and agricultural residues, which makes it harder to extract the required fuel. The second-generation biofuel is developed to overcome the limitations of high freezing temperatures and negative environmental effect of first-generation fuels (such as vegetable oil, biodiesel, bioalcohols, biogas, and syngas) and they can supply large amount of global fuel sustainably, which is affordable with higher environmental benefits.
Advanced fuel produced from algae raw material accounted for the largest market share due to its oil content. This plant grows on wasteland and can be grown using ocean and wastewater. Algae-based biofuels are relatively less harmful to the environment if spilled and are biodegradable in nature. Furthermore, the growth rate of algae is 20 times faster as compared to other raw materials such as jatropha. Advanced biofuels are also classified on the basis of fuel types such as cellulosic ethanol, biodiesel, biobutanol, bioDME, and others. Biodiesel fuel type segment holds the largest revenue share in the global advanced biofuel market. This growth is attributed to increasing use of biofuels as engine fuel.
Europe is the second largest region in global advanced biofuels market. In Europe, the advanced biofuel market is driven by high R&D&D (research & development & demonstration) activities in EU indicating the potential growth of market for applications in marine, shipping, and air transport. The industrial initiatives such as European Industrial Bioenergy Initiative aims to have their first commercial plants by 2020 in operation. The objective of this initiative is to meet around 4% of EU transport energy need, with a focus on advanced biofuels.
The advanced biofuel market was valued at US$ 8.880 Billion in 2016 globally and is expected to expand at a CAGR of 41.18%, in terms of revenue, during 2017 – 2025
North America accounted for major shares in the global advanced biofuel market, in terms of revenues, in 2016. Policies such as California’s Fuel Standard and Federal Renewable Fuel Standard continue to be the primary drivers for the growth of advanced biofuel market. However, regulatory instability is the major challenge towards the market growth, which led to decreased investments, in 2014. The Environmental Protection Agency (EPA) was delayed in its annual announcement for the Renewable Fuel Standard volumes. Furthermore, high cost of production has negative impact on the growth of advanced biofuels market.
Major Players in the Global Advanced Biofuel Market
Some of the key players in global advanced biofuels market include Abengoa Bioenergy, S.A., A2BE Carbon Capture, LLC, Algenol Biofuels, Chemtex group, Bankchak Petroleum, Clariant Produkte GmbH, Fiberight LLC, DuPont Industrial Biosciences, Fujian Zhongde Energy Co., Ltd, Inbicon, GranBio, INEOS Bio, POET-DSM Advanced Biofuels LLC, KiOR Inc., ZeaChem Inc., and Sundrop Fuels, Inc.
[Note: *The PDF Brochure Includes
1) Table of Content (ToC),
2) Research Framework of the actual report, and
3) Research Methodology adopted for it.]
Important Information that can be extracted from the Report:
♦ Assessment of the COVID-19 impact on the growth of the Advanced Biofuel Market
♦ Successful market entry strategies formulated by emerging market players
♦ Pricing and marketing strategies adopted by established market players
♦ Country-wise assessment of the Advanced Biofuel Market in key regions
♦ Year-on-Year growth of each market segment over the forecast period 2027
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In Addition, The Years Considered For The Study Are As Follows:
Historical year – 2014 to 2018
Base year – 2019
Forecast period – 2020 to 2026
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