Next Generation Biofuels Market With Complete SWOT Analysis and Forecast to 2030

Next Generation Biofuels Market research report by Delvens focuses on primary sections such as – market segments, market outlook, competitive landscape, and company profiles. The segments provide details in terms of various perspectives such as end-use industry, product or service type, and any other relevant segmentation as per the market’s current scenario which includes various aspects to perform further marketing activity.

The global Next Generation Biofuels Market size was estimated at USD 7.26 billion in 2023 and is projected to reach USD 49.7 billion in 2030 at a CAGR of 27.2% during the forecast period 2023-2030.

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Biofuels, as a product of modern biological processes like anaerobic digestion, represent an alternative to fossil fuels that are produced by geological means. The second generation of biofuels is derived from non-food crops including biomass crops, organic waste, wood, and food crop waste. Meanwhile, the third generation of biofuels involves improving biomass production and utilizing engineered energy crops, such as algae, as a feedstock. The projected diversity of algae-based biofuels is expected to encompass various fuel types, including but not limited to petrol, diesel, and jet fuel.

The market's growth is expected to be propelled by the demand for cleaner fuel and the increasing governmental regulations for desulphurization of petroleum products. Biofuels, which are derived from plants, animal waste, or algae material, are categorized as renewable fuels due to the replenishable feedstock material. The global market is expected to be driven by a limited availability of fossil fuel-based resources and a growing awareness of curbing carbon emissions.

Competitive Landscape:

• ABB

• Abengoa Bioenergy S.A.

• Accelergy

• Alstom

• Archer Daniels Midland Company

• Cargill Incorporated

• Ciris Energy

• Clean Coal Technologies Inc.,

• Cortus

• E3 Clean Technologies

• ExxonMobil Corporation

• Gasliner

• General Electric

• GreatPoint Energy

• Hygen

• JaworskiEnergyServices

• LanzaTech

• POET, LLC

• Renewable Energy Group, Inc.

• Schneider Electric

• Shell PLC

• Siemens

• Tracxn Technologies Limited

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Regional Analysis

North America to Dominate the Market

North America is estimated to account for the largest market share during the forecast period owing to rising demand mainly form countries such as Canada, U.S., and others.

Recent Developments

In April, 2023, Cepsa awarded a contract for the engineering, procurement, and construction management support of the second-generation (2G) biofuels plant in southern Europe to the Técnicas Reunidas. This new plant will use agricultural waste and used cooking oils as feedstock. it will have two pre-treatment units and a flexible production capacity of around 500,000 tons of renewable diesel and sustainable aviation fuel (SAF) for use in air, sea, and land transport.

In January, 2023, Zagros Petrochemical Company and China’s Dalian Petrochemical Company entered into the deal to establish a methanol-to-synthetic ethanol conversion plant in Iran, which would be the first plant of ethanol for Iran. The plant is estimated to have a production capacity of 300,000 tons and would be commissioned within three years.

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Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.

• Gain authentic and granular data access for the Next Generation Biofuels Market to understand the trends and the factors involved in changing market situations.

• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.

• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

In addition to the market data for the Next Generation Biofuels Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.

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