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Biofuels: Global Markets

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    Report

  • 106 Pages
  • October 2023
  • Region: Global
  • BCC Research
  • ID: 5009011

This report presents an overview of biofuel types, manufacturing methods, feedstock options, typical plant costs, and operating margins, followed by an analysis of major geographical markets: North America, Europe, South America, Asia-Pacific, Africa, and the Middle East. Each regional evaluation includes market size estimates for ethanol, biodiesel, and other fuel types sales and a forecast for growth to 2028. The report also presents the technical and commercial developments in advanced biofuels and emerging technologies in the biofuel sector. The report concludes with a competitive landscape of the global biofuel market. The report will also discuss emerging technologies in the biofuel sector and conclude with company profiles of the various players in the area.

Report Includes

  • 18 data tables and 27 additional tables
  • An overview of the global markets for liquid biofuels
  • An estimate of market size and analyses of global market trends, with data from 2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
  • An evaluation of the market potential for biofuels based on biofuel type and region
  • Coverage of technical and commercial developments in advanced biofuels, and an assessment of manufacturing methods, feedstock options, typical plant costs, operating margins, and the emerging technologies in the biofuel sector
  • A look at the regulatory framework regarding the use of biofuels, incentives for fuel production, and the number and capacity of manufacturing plants; and information on the Paris Climate Accords, investments in biofuel technologies, and collaborations between companies
  • Analysis of significant patent activity in biofuels
  • A market outlook for the major companies, including a market share analysis and assessment of the competitive landscape
  • Company profiles of major players within the industry, including ADM, Chevron Renewable Energy Group, Green Plains Inc., and HF Sinclair Corp.

Table of Contents

Chapter 1 Introduction
  • Study Goals and Objectives
  • Reasons for Doing this Study
  • Scope of Report
  • What's New in this Update?
  • Methodology
  • Information Sources
  • Geographic Breakdown
Chapter 2 Summary and Highlights
  • Market Outlook
  • Summary
Chapter 3 Market Overview
  • Introduction
  • Biofuel Evolution
  • First-Generation Biofuels
  • Second-Generation Biofuels
  • Third-Generation Biofuels
  • Fourth-Generation Biofuels
  • Yield
  • Net Energy Yield
  • Conversion Routes for Biofuels Production
  • Types of Biofuels
  • Ethanol
  • Corn Ethanol
  • Corn Ethanol Manufacturing
  • Cellulosic Ethanol
  • Ethanol Blending
  • Coproducts of Ethanol Production
  • Ethanol Plant Costs
  • Biodiesel
  • Biodiesel Manufacturing
  • Transesterification
  • Post-Reaction Processes
  • Biodiesel Blending
  • Coproducts of Biodiesel Manufacturing
  • Biodiesel Plant Costs
  • Renewable Diesel
  • Sustainable Aviation Fuel (Saf)
  • Other Biofuels
  • Straight Vegetable Oil/Pure Vegetable Oil
  • Wood Diesel
  • Biobutanol
  • Biobutanol Manufacturing
  • Hydrothermal Upgrading Diesel
  • Fischer-Tropsch Biofuels
  • Fischer-Tropsch Manufacturing
  • Algal Fuel (Oilgae)
  • Biomethanol
  • Dimethylfuran
  • Bio-Dme
  • Green Gasoline
  • Designer Hydrocarbons
  • Share of Biofuels in World Energy Matrix
Chapter 4 Market Dynamics
  • Market Trends
  • Growing Demand for Low-Carbon Intensive Fuel
  • Stringent Policies
  • Food Crops to Remain as a Major Feedstock
  • Market Drivers
  • Environmental Policies and Incentives
  • Growing Demand for Sustainable Aviation Fuels (Saf)
  • Energy Security
  • Market Challenges
  • Feedstock Availability
Chapter 5 Biofuel Market by Fuel Type
  • Introduction
  • Global Biofuel Market by Fuel Type
  • Global Market by Region
  • North America
  • Europe
  • South America
  • Asia-Pacific
  • Middle East and Africa
Chapter 6 Biofuels Market by Region
  • Global Market for Biofuels by Region
  • Global Market by Region
  • North America
  • Europe
  • South America
  • Asia-Pacific
  • Middle East and Africa
Chapter 7 Sustainability in Biofuels Industry: An ESG Perspective
  • Introduction
  • ESG Issues
  • Environmental Issues
  • Social Issues
  • Biofuel Industry ESG Performance Analysis
  • Consumer Attitudes Towards ESG
  • ESG Practices by Companies
  • ESG Risk and Opportunities
  • Opportunities in Implementing ESG in Biofuel Companies
  • Risks in Implementing ESG in Biofuel Companies
  • Case Study
  • ESG Performance of Neste: Driving Sustainable Innovation in the Biofuel Industry
  • Concluding Remarks
Chapter 8 Emerging Technologies and Developments
  • Introduction
  • Emerging Technology
  • Technology Innovation
  • Innovative Technology in Feedstock
  • Los Alamos National Laboratory (Lanl)
  • Innovative Technology in Process
Chapter 9 Competitive Intelligence and M&A
  • Market Share
  • Strategies
  • Feedstock Diversification
  • New Technologies
  • Partnership and Capacity Expansion
  • Product Diversification
  • Vertical Integration
  • Mergers & Acquisitions
  • Investments in Biofuels
Chapter 10 Company Profiles
  • Introduction
  • Company Profiles
  • Adm
  • Cargill
  • Chevron Renewable Energy Group
  • Green Plains Inc.
  • Hf Sinclair Corp.
  • Marquis
  • Poet LLC
List of Tables
Summary Table: Global Market for Biofuels, by Fuel Type, Through 2028
Table 1: Energy Content of Commercial Fuels
Table 2: Relative Yield of Current and Proposed Biofuel Feedstocks
Table 3: Relative Yield of Current and Proposed Cellulosic Ethanol Feedstocks
Table 4: Net Energy Yield of Current and Proposed Biofuel Feedstock
Table 5: Feedstocks for Ethanol Production
Table 6: Corn Ethanol Feedstock Requirements, by Plant Size
Table 7: Estimated Capital and Operating Costs, by Ethanol Plant Size
Table 8: Feedstocks for Biodiesel Production
Table 9: Biodiesel Production Costs
Table 10: Certified SAF Conversion Pathways
Table 11: Promising Algae for Biodiesel Manufacture
Table 12: Global Market for Biofuels, by Fuel Type, Through 2028
Table 13: North American Market for Biofuels, by Fuel Type, Through 2028
Table 14: European Market for Biofuels, by Fuel Type, Through 2028
Table 15: South American Market for Biofuels, by Fuel Type, Through 2028
Table 16: Asia-Pacific Market for Biofuels, by Fuel Type, Through 2028
Table 17: MEA Market for Biofuels, by Fuel Type, Through 2028
Table 18: Global Market for Biofuels, by Region, Through 2028
Table 19: North American Market for Biofuels, by Country, Through 2028
Table 20: European Market for Biofuels, by Country, Through 2028
Table 21: South American Market for Biofuels, by Country, Through 2028
Table 22: Asia-Pacific Market for Biofuels, by Country, Through 2028
Table 23: MEA Market for Biofuels, by Country, Through 2028
Table 24: Environment Performance of Biofuel Companies
Table 25: Social Performance of Biofuel Companies
Table 26: Governance Performance of Biofuel Companies
Table 27: ESG Related Investments, by Neste
Table 28: Biofuel Production Share & Ranking, by Country/Region
Table 29: Largest Biodiesel Producers in the U.S., January 2023
Table 30: Largest Ethanol Producers in the U.S., January 2023
Table 31: Largest HDRD Producers in the EU
Table 32: M&A Activities in Biofuel Industry, 2022
Table 33: ADM: Annual Revenue, 2022
Table 34: ADM: News, 2021-2023
Table 35: Cargill: News, 2021-2023
Table 36: Chevron Renewable Energy Group: Annual Revenue, 2021
Table 37: Chevron Renewable Energy Group: News, 2022
Table 38: Chevron Renewable Energy Group: Biofuel Product Portfolio
Table 39: Green Plains Inc.: Annual Revenue, 2022
Table 40: Green Plains Inc.: News, 2023
Table 41: HF Sinclair Corp.: Annual Revenue, 2022
Table 42: HF Sinclair Corp.: News, 2023
Table 43: Marquis: News, 2023
Table 44: POET LLC: News, 2023

List of Figures
Summary Figure: Global Market for Biofuels, by Fuel Type, 2022-2028
Figure 1: Relative Yield of Current and Proposed Biofuel Feedstocks
Figure 2: Relative Yield of Current and Proposed Cellulosic Ethanol Feedstocks
Figure 3: Thermal, Biological, and Chemicals Routes to Biofuels
Figure 4: Ethanol Production Facility
Figure 5: Cellulosic Ethanol Manufacturing Process
Figure 6: Shares of Biodiesel Production Costs, by Segment
Figure 7: Renewable Diesel Manufacturing Process Via Hydrotreating
Figure 8: Net Energy Yield of Current and Proposed Biofuel Feedstocks
Figure 9: Global Energy Matrix Shares, by Fuel Type/Energy Source, 2020
Figure 10: Global Market for Biofuels, by Fuel Type, 2022-2028
Figure 11: North American Market for Biofuels, by Fuel Type, 2022-2028
Figure 12: European Market for Biofuels, by Fuel Type, 2022-2028
Figure 13: South American Market for Biofuels, by Fuel Type, 2022-2028
Figure 14: Asia-Pacific Market for Biofuels, by Fuel Type, 2022-2028
Figure 15: MEA Market for Biofuels, by Fuel Type, 2022-2028
Figure 16: Global Market for Biofuels, by Region, 2022-2028
Figure 17: North American Market for Biofuels, by Country, 2022-2028
Figure 18: European Market for Biofuels, by Country, 2022-2028
Figure 19: South American Market for Biofuels, by Country, 2022-2028
Figure 20: Asia-Pacific Market for Biofuels, by Country, 2022-2028
Figure 21: MEA Market for Biofuels, by Country, 2022-2028
Figure 22: ESG Issues in Biofuels Industry
Figure 23: Percentage of Food Crops Used as Ethanol, 2022
Figure 24: Opportunities and Risks in Implementing ESG
Figure 25: Announced Projects for Pre-commercial Advanced Liquid Biofuel Production, by Feedstock and Technology, 2022-2030
Figure 26: Average Annual Global Biodiesel Investments
Figure 27: Cumulative Investment, by Region, 2010-2022
Figure 28: ADM: Annual Revenue, 2021 and 2022
Figure 29: ADM: Revenue Shares, by Business Unit, 2022
Figure 30: ADM: Revenue Shares, by Country/Region, 2022
Figure 31: Chevron Renewable Energy Group: Annual Revenue, 2020 and 2021
Figure 32: Chevron Renewable Energy Group: Revenue Shares, by Business Unit, 2021
Figure 33: Chevron Renewable Energy Group: Revenue Shares, by Country/Region, 2021
Figure 34: Green Plains Inc.: Annual Revenue, 2021 and 2022
Figure 35: Green Plains Inc.: Revenue Shares, by Business Unit, 2022
Figure 36: Green Plains Inc.: Revenue Shares, by Country/Region, 2022
Figure 37: HF Sinclair Corp.: Annual Revenue, 2021 and 2022
Figure 38: HF Synclair Corp.: Revenue Shares, by Business Unit, 2022
Figure 39: HF Synclair Corp.: Revenue Shares, by Country/Region, 2022

Executive Summary

According to the report, the global biofuel market is expected to grow in the forecasted period. The global biofuel market will increase from $125.9 billion in 2023 to $143.8 billion in 2028, representing a 2.7% CAGR. North America accounted for 45.8% of all market revenue in 2022, followed by South America's 29.7% and Europe's 14.4% market share. Based on the type of biofuels, ethanol constituted 67.1% of the market share in 2022.

In terms of volume, 2022 saw approximately a 6% increase in biofuel consumption compared to 2021. The U.S. and EU biofuel policies mainly derived the market. The ethanol market increased by 3%, while the biodiesel increased by 4% for the same period. However, biodiesel is expected to grow at a higher CAGR than the ethanol market in the forecast period. This is because the demand for renewable diesel is increasing as companies focus on producing low-carbon intensity fuels. Renewable diesel is made from waste and residue, unlike conventional biodiesel and ethanol from food-based feedstock.

Companies Mentioned

  • AdDM
  • Cargill
  • Chevron Renewable Energy Group
  • Green Plains Inc.
  • HF Sinclair Corp.
  • Marquis
  • Poet LLC

Table Information