Biofuels – The Growth Story Unfurled

biofuels market

Biofuels are seen to be the future of clean fuels. Produced from biomass, these are sustainable, and secure. And, thanks to government support extended towards eco-friendly variants of fuels, the demand for biofuels is increasing manifold. Besides, these are blended with automotive fuels now, helping the market chart a steady growth curve.

It is pertinent to note here that of all the renewable sources of energy for road transportation, it is biofuels that constitute for a majority part. And, this is not really surprising considering that in some of the most notable economies, blending mandates are gaining traction, driving up demand for biofuels.

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This is precisely the reason why over the coming few years, Brazil, China, and the United States of America are set to demonstrate great growth statistics – blending regulations. Besides, owing to rising security concerns in terms of energy, China will show great potential in terms of being a promising market. Besides, it is committed to reduce its carbon footprint.

It is also pertinent to make note of the Fuel Quality Directive and RED (Renewable Energy Directive). These mandates by European Union call for a 7% energy requirement in fuel to be met by biofuels in the transportation sector. The deadline for the same was 2020.

Over the years to come, Asia Pacific will see a spurt in its marketscape owing to governments efforts and increase in investment in the area. Besides, policies relating to biofuel blending are getting stricter by the day as environment conservation gains centerstage.

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It is worth noting here that the biofuels market is fragmented and major players include Abengoa Bioenergy S.A., Cargill, Incorporated, BTG International Ltd, DuPont, Wilmar International Ltd, Renewable Energy Group, Inc., POET, LLC, Archer Daniels Midland Company, VERBIO Vereinigte BioEnergie AG, My Eco Energy, China Clean Energy Inc., CropEnergies AG, amongst others

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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