Advanced Biofuel Market: Current Analysis and Forecast (2022-2028)

Report Description

Global Advanced Biofuel Market is expected to grow at a significant rate of around 35% during the forecast period. Advanced biofuels are the key components of low carbon transportation system development to meet emissions reduction. Advanced biofuel which is also called second-generation fuel is used as a blending material in traditional fuels such as gasoline and diesel. The second-generation biofuels are derived from lignocellulosic crops which allows the cellulose and lignin plants to separate and form alcohol. In recent years, the demand for advanced biofuel has increased due to its blending applicability with gasoline and diesel.

Furthermore, the demand for advanced biofuel is anticipated to grow due to the rising government’s focus on lower carbon emissions as there are several regulations implemented in the different parts of the world to promote advanced biofuel for vehicles. For instance, in India, the government reduce the tax on biofuels from 18% to 5%. Also, to promote advanced biofuel in Europe the government takes several measures such as implementing a 10-year long-term stable policy, minimization in the competition between the first-generation biofuels and advanced biofuels and supporting offtakes for the advanced alternative fuels.

DowDuPont Inc., Bangchak Petroleum Plc., Clariant, Inbicon A/S, TMO Renewables, Sinopec, Vinythai Public Company Limited, Chemtex company, LanzaTech, and Fujian Zhongde Energy Co., Ltd. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst raw material, algae category to witness robust CAGR during the forecast period”

Based on raw materials, the advanced biofuel market has been classified into lignocellulose, jatropha, camelina, algae, and others. The algae segment witnesses a significant market share in 2021 and is expected to remain the same during the forecast period owing to the higher oil content compared to the other segment and the cultivation ability such as it can cultivate into the ocean and wastewater land. Also, the algae have a lower cultivation cycle which is around 10 days and has approximately 300 times more oil content than the traditional crops.

“Amongst biofuel type, the biodiesel segment to hold a significant share in the market in 2020”

Based on biofuel type, the market is segmented into biobutanol, cellulose advanced biofuel, biodiesel, and others. The biodiesel category witnessed higher market growth during the forecast period owing to its utilization in diesel and jet fuels. Also, the blending of biodiesel in diesel gives economic advantages and helps to reduce greenhouse gas emissions. The increasing demand for energy and depleting energy resources around the world are expected to drive the demand for biodiesel in the future.

“North America to hold a significant share in the market”

In 2020, North America held a significant share of the global advanced biodiesel market. This is mainly due to the growing demand for cleaner burning transportation fuels, particularly in developed countries like U.S. and Canada. Additionally, the presence of the major market player in the region and strict regulation towards carbon emission coupled with the increasing demand for energy in the region is further expected to drive the demand for the advanced biofuel market in the region.

In addition, the increasing demand for renewables, government support, and increasing investment in the region are supporting the advanced biofuel market in North America. For instance, North America implements Advanced Biofuel Payment Programs which enables any individuals, foundations, organizations, joint stock companies, government entities, and others to produce and sell advanced biofuels meeting the desired specification. Also, the North American government provides Biomass Crop Feedstock Incentives which provide financial assistance to the operator and landowners to establish, produce and deliver biomass feedstock crops for the production of advanced biofuel production facilities.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global advanced biofuel market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team

Research Methodology

Research Methodology for the Advanced Biofuel Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global advanced biofuel market were the three major steps undertaken to create and analyze the adoption of Advanced biofuels in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Advanced Biofuel market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the advanced biofuel market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the advanced biofuel market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as biofuel type, raw material, and process. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the advanced biofuel market. Further, we conducted factor analysis using dependent and independent variables such as various biofuel types, raw materials, and the process of advanced biofuels. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the advanced biofuel market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global advanced biofuel market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the advanced biofuel market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global advanced biofuel market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global advanced biofuel market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of biofuel type, process, and raw material in the global advanced biofuel market.

The main objective of the Global Advanced Biofuel Market Study

The current & future market trends of the global advanced biofuel market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the advanced biofuel market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of biofuel type, process, and raw material.
• Define and analysis of the regulatory framework for the advanced biofuel
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the advanced biofuel market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the advanced biofuel market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team