Enjoy complimentary customisation on priority with our Enterprise License!
The biofuels market size is forecast to increase by USD 26.6 billion at a CAGR of 3.23% between 2023 and 2028. The market is driven by environmental regulations and government policies favoring the use of renewable energy sources over fossil fuels. The trend toward reducing carbon emissions and mitigating climate change has led to a rise in demand for biofuels. Additionally, research on third-generation biofuels, such as algae fuel, is gaining momentum due to their potential to reduce greenhouse gas emissions and increase energy security. Fluctuations in oil prices and inflation rates also influence the market, making biofuels a more cost-effective alternative for the transportation sector. Valero, a prominent player in the biofuels industry, has made significant investments in biojet production, further boosting the market's growth.
Furthermore, oilfield discoveries and advancements in technology are also contributing to the market's expansion. Overall, the market is poised for significant growth in the coming years as the world transitions to renewable energy sources.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.