Liquid Biofuels Market to Grow Gradually by Achieving a Valuation of USD 265.01 Billion by 2030 with a CAGR of 8.6% during the Forecast Period

The liquid biofuels market size is projected to grow from USD 148.51 billion in 2023 to USD 265.01 billion by 2030. As per a report by Fortune Business Insights™ titled, “Liquid Biofuels Market Size, Share & COVID-19 Impact Analysis, By Type (Ethanol and Biodiesel), By Feedstock (Sugar Crops, Starch Crops, Vegetable Oils, Animal Fats, and Others), By Process (Fermentation, Transesterification, and Others), By Application (Transportation, Power Generation, and Heat), and Regional Forecast, 2023–2030”, the market stood at USD 137.26 billion in 2022. It is set to exhibit a CAGR of 8.6% during 2023-2030.

Liquid biofuels are mostly derived from organic materials, such as plants or waste, which is an alternative to fossil fuels in heat, transportation, and power generation. These biofuels are produced using various techniques such as transesterification and fermentation.

COVID-19 Negatively Impacted the Liquid Biofuels Market

The COVID-19 pandemic substantially impacted the global liquid biofuel market. The market witnessed a downfall due to reduced demand for transportation fuels, disruptions to supply chains, and declining oil prices. Hence, the pandemic reduced the liquid biofuels market share.

Bangchak Corporation Public Company Limited Partnered with Thanachok Oil Light to Boost Market Development

Bangchak Corporation Public Company Limited, in partnership with Thanachok Oil Light, a vegetable oil collection company, and BBGI, a biofuel distributor/producer, has agreed to build a joint venture, BSGF. The aim of this partnership is to manufacture and distribute Substantial Aviation Fuel (SAF) in Thailand with the use of Used Cooking Oil (UCO).

Rising Growth in Prices of Conventional Fuel to Increase the Demand for Liquid Biofuels

Biofuels such as diesel and gasoline made up of various crops are the only non-petroleum energy source readily used in millions of cars and trucks on the road globally. The surged oil prices have made biofuels demand to grow for liquid biofuels such as biodiesel and ethanol.

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https://www.fortunebusinessinsights.com/liquid-biofuels-market-103294

Competitive Landscape:

Prominent Players in the Market are Engaging Themselves in Partnerships, Mergers, and Acquisitions to Stay Competitive

Companies in the liquid biofuel market are adopting new strategies such as acquisitions, mergers, and partnerships to gain competence and enhance their market presence. By joining forces with other companies or acquiring new technology, expertise, and resources, companies aim to improve their products and strengthen their business.

Notable Industry Development:

• December 2020: Enerkem declared an establishment of a biofuel plant of USD 875 million in Varennes, Quebec, in partnership with Suncor, Proman, and Shell, with the leadership of the Quebec government and support from the Canadian government.

List of the Companies Profiled in the Report:

• ADM (U.S.)


• CropEnergies AG (Germany)


• Bangchak Corporation Public Company Limited (Thailand)


•  Enerkem (Canada)


• Renewable Biofuels Inc. (U.S.)


• Chevron Renewable Energy Group. (U.S.)


• POET (U.S.)


• Algenol (U.S.)


• Fulcrum BioEnergy, Inc. (U.S.)


•  Emami Agrotech Limited (India)


• Bio-Oils Energy S.A. (Spain)


• Alto Ingredients, Inc. (U.S.)


• Gevo, Inc. (U.S.)

Further Report Findings:

• North America dominated the market with the largest share and is anticipated to grow steadily as North America made significant investments in the creation of infrastructure and biofuel technology, leading to high levels of regional production.


• Many top manufacturers and developers of liquid biofuels are based in the U.S., stimulating market innovation and expansion.


• Due to increase in demand for renewable energy sources, Latin America is anticipated to witness the liquid biofuels market growth during the projected period.

Table of Segmentation: