Authored By: Sarah
11 Jul 2024

 Biofuel From Sugar Crops Market Size to grow by USD 509.1 million between 2024-2028

According to a research report “ Biofuel From Sugar Crops Market” by Application (Aviation, Automotive, Power, Marine) Geography (South America, APAC, North America, Europe, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 509.1 million, at a CAGR of  3.19% during the forecast period. In the current business landscape, the escalating concern over increasing greenhouse gas (GHG) emissions and their detrimental effects on the environment, including ozone layer depletion, global warming, and altered weather patterns, necessitates the adoption of renewable energy sources. According to the US Energy Information Administration, renewables are now economically viable alternatives to fossil fuels, with their share in US electricity generation projected to surge from 21% in 2020 to 42% by 2050. This shift towards renewables represents a significant business opportunity for companies operating in the biofuel from sugar crops market, as sugar crops are a promising feedstock for producing biofuels that contribute to reducing GHG emissions.

Browse market data tables, figures, and in-depth TOC on “Biofuel From Sugar Crops Market” by Application (Aviation, Automotive, Power, Marine) Geography (South America, APAC, North America, Europe, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Application, the Aviation segment is projected to dominate the market size in 2024

ai_market_segmentation_by

By Geography, South America  segment is expected to hold the largest market size for the year 2024

The biofuel market derived from sugar crops is experiencing significant growth due to increasing global awareness towards renewable energy sources and government incentives. Sugar crops, such as sugarcane and sugar beets, are efficient feedstocks for biofuel production, yielding high amounts of sugars that can be converted into bioethanol. Companies in this sector are investing heavily in research and development to improve production efficiency and reduce costs, making sugar-based biofuels a competitive alternative to traditional fossil fuels.

South America is forecasted to hold the largest market size by region in 2024

The biofuel market derived from sugar crops is experiencing significant growth due to increasing global focus on renewable energy sources. This sector offers substantial business opportunities, particularly for sugar producers seeking to diversify their revenue streams. By converting excess sugarcane biomass into bioethanol or biodiesel, these companies can tap into the lucrative biofuels industry while reducing their environmental footprint. This strategic move not only enhances their sustainability profile but also provides a competitive edge in the market.

The Biofuel From Sugar Crops Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Abengoa SA
  • ALTO INGREDIENTS Inc.
  • Archer Daniels Midland Co.
  • Aurora Cooperative Elevator Co.
  • BP Plc
  • Bunge Ltd.
  • Cargill Inc.
  • Chevron Corp.
  • Dow Inc.
  • GranBio Investimentos SA
  • My Own Eco Energy Pvt. Ltd.
  • POET LLC
  • Shell plc
  • SZVG eG
  • VERBIO Vereinigte BioEnergie AG
  • Wilmar International Ltd.
  • Woodland Biofuels Inc.
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

Title: Biofuel From Sugar Crops Market: Advanced Biofuels Leading the Charge Towards Sustainable Transportation The Biofuel From Sugar Crops Market has been gaining significant attention in recent years due to the growing demand for renewable energy sources and the need to reduce greenhouse gas emissions. Companies such as Bamboo Energy, Green Plains Inc., and Archer Daniels Midland (ADM) are leading the way in the production of advanced biofuels from sugar crops, primarily sugarcane and corn. The market framework includes mandates, taxes, and tax benefits that encourage the use of biofuels. For instance, the US Renewable Fuel Standard mandates the use of 15 billion gallons of biofuels annually. The automotive sector is a major consumer of biofuels, with blended fuels such as E10 and E85 gaining popularity. The prices of conventional biofuels like ethanol and biodiesel have been volatile due to factors such as weather conditions and crop yields. Advanced biofuels, on the other hand, offer a more stable price due to their feedstock diversity. The shift towards biofuels from sugar crops is driven by environmental concerns and the need to reduce reliance on conventional fuels like natural gas and coal. However, the infrastructure required for the production and distribution of biofuels is still developing, and there are challenges related to carbon tax and the availability of raw materials. The awareness of the benefits of clean energy and the increasing concern over greenhouse gas emissions are expected to drive the growth of the Biofuel From Sugar Crops Market in the coming years.

Market Research Overview

Title: Biofuel From Sugar Crops Market: Industry Influencers, Promotions, Pricing, and Profitability The biofuel from sugar crops market is witnessing significant growth due to various factors, including government support, energy security concerns, and environmental considerations. Industry influencers, such as publishers, are releasing studies on the market scenario, highlighting the efficiency of airlines in using cleaner fuels and the potential profits from investments in biofuels. The pricing of biofuels, particularly sugarcane-based ethanol, is competitive with conventional fuels, making it an attractive business strategy for companies. Advanced biofuels, such as cellulosic ethanol and biodiesel, are also gaining popularity due to their higher efficiency and lower carbon footprint. Government support, in the form of mandates and tax benefits, is driving the growth of the biofuel industry. For instance, the automotive sector in countries like Brazil and the US has mandated the use of blended fuels, which contain a certain percentage of biofuels. Key players in the market include innovative companies that are at the cutting edge of biofuel technology, such as Ace Matrix, DuPont, and Archer Daniels Midland. These companies are investing heavily in research and development to improve the efficiency of their production processes and reduce the carbon footprint of their products. The global biofuel market is expected to grow at a CAGR of over 6% between 2021 and 2026, driven by factors such as increasing awareness of environmental concerns, infrastructure development, and the potential for tax benefits. However, the market faces challenges such as competition from conventional fuels like natural gas and coal, as well as the impact of carbon taxes on pricing. In conclusion, the biofuel from sugar crops market is an active and dynamic industry that is poised for growth. Companies that adopt a strong product strategy and stay abreast of market trends and government policies will be well-positioned to capitalize on the opportunities presented by this market.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio