Biofuels Market Size to Grow by $ 23.21 Billion During 2021-2025
Technavio has been monitoring the biofuels market and it is expected to grow by $ 23.21 Billion, accelerating at a CAGR of almost 3.35% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Biofuels Market: APAC to lead market growth during the forecast period
- APAC has been recording significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. 25% of the market growth will originate from the region during the forecast period.
- Rising need for cleaner fuels will facilitate the biofuels market growth in APAC over the forecast period.
- Increased adoption of renewable sources of energy will be a significant factor in driving the growth of the biofuels market.
Biofuels Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ALTEN Group, Archer Daniels Midland Co., Argent Energy UK Ltd., BIOX Corp., Bunge Ltd., Cargill Inc., Louis Dreyfus Co. BV, RB FUELS, Renewable Energy Group Inc., and Wilmar International Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Biofuels Market: Key Highlights of the Report for 2021-2025
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive biofuels market growth during the next five years
- Precise estimation of the biofuels market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the biofuels market industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of biofuels market vendors
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of 3.35%.
- What is the incremental growth of the market?
The market is expected to grow by $ 23.21 bn through 2021-2025.
- What is a key factor driving this market?
Increased adoption of renewable sources of energy will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, Europe, APAC, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market:
25% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are ALTEN Group, Archer Daniels Midland Co., Argent Energy UK Ltd., BIOX Corp., Bunge Ltd., Cargill Inc., Louis Dreyfus Co. BV, RB FUELS, Renewable Energy Group Inc., and Wilmar International Ltd.
- What are the market segments covered in this report?
The market is segmented by Product (Ethanol and Biodiesel) and Geography (North America, Europe, APAC, South America, and MEA)