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Liquid Biofuels Market Is Driven By Rising Environmental Concerns
The Liquid Biofuels Market comprises products such as biodiesel, ethanol, green diesel and advanced biofuels that are derived from various biomass sources including vegetable oils, animal fats, sugarcane, corn, and agricultural residues. These biofuels provide environmental benefits like reduced greenhouse gas emissions as compared to fossil fuels.
The Global Liquid Biofuels Market is estimated to be valued at US$ 137.68 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period from 2024 to 2031.
Key players operating in the Liquid Biofuels Market include The Archer-Daniels-Midland Company, Valero Energy Corporation, Green Plains Inc., Gevo, Chevron, Neste, TotalEnergies, Wilmar International Ltd, Enerkem, POET, Fulcrum BioEnergy, Inc., Alto Ingredients, Inc., Pacific Biodiesel, Südzucker AG, Emami Agrotech Limited, Chemical Construction International Limited, Khanda BioFule, BIOD TECHNOLOGY FZCO, Lootah Bio Fuels, and Neutral Fuels. These companies are investing in renewable fuel technologies and collaborating with partners to increase their production capacities.
Key Takeaways
Key players: Key players operating in the Liquid Biofuels market are The Archer-Daniels-Midland Company, Valero Energy Corporation, Green Plains Inc., Gevo, Chevron, Neste, TotalEnergies, Wilmar International Ltd, Enerkem, POET, Fulcrum BioEnergy, Inc., Alto Ingredients, Inc., Pacific Biodiesel, Südzucker AG, Emami Agrotech Limited, Chemical Construction International Limited, Khanda BioFule, BIOD TECHNOLOGY FZCO, Lootah Bio Fuels, and Neutral Fuels. These players are investing in upgrading their facilities and capacities to cater to the growing demand.
Growing demand: The Liquid Biofuels Market Growth is increasing due to stringent emission norms and incentives provided by various governments to reduce dependence on fossil fuels. Biofuels help cut emissions and provide an alternative to conventional fuels.
Global expansion: Key players in the market are expanding their global footprint by entering new markets and regions. Companies are focusing on capacity expansion, technology innovation and partnerships for sourcing feedstock to strengthen their positions and tap growth opportunities around the world.
Market drivers
One of the key drivers for the liquid biofuels market is rising environmental concerns over pollutants and greenhouse gas emissions from fossil fuels. Biofuels provide an alternative to reduce dependence on crude oil and offer sustainability benefits. Stringent emission norms by regulatory bodies compel automakers to increase the blend of biofuels in vehicle fuels. Government policies and incentives supporting the production and usage of biofuels are also promoting market growth.
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