Liquid Bio Fuel Market: Global Opportunity Analysis and Industry Forecast, 2022-2029 Market

Liquid Bio Fuel Market Outlook - 2027

Liquid bio fuels are a range of liquid fuels produced from the fermentation of crops rich in starch and sugars and animal waste. Technologies such as thermo chemical and biological are used for the manufacturing of bio fuels. These bio fuels have high specific energy and quality standards, thus can be used where high safety is needed. They are sourced from a wide range of materials such as corn, soybeans, and switch grass. Bio ethanol liquid fuel is used in the automobile industry and is more environment-friendly, as it emits less carbon. Bio ethanol liquid fuel is also known as a substitute for petrol and internal combustion engine fuels, which run on gasoline or kerosene. Liquid bio fuel is used as in reducing friction, prevention from corrosion, cooking oil, heat generation, and as a vehicle fuel. In addition, liquid bio fuels can be used in residential and industrial space heating. 

COVID-19 impact analysis

• The bio fuel market in countries such as U.S. and Canada faced a drop in demand during the pandemic period.
• The collapsing demand idled around 3.5 billion gallons of annualized ethanol output at a quarter in the U.S.
• The sharp decline is attributed to social distancing and minimum travel expenditure for the residents.
• In addition, bioethanol used for hand sanitizer is less profitable than fuel grade ethanol, as hand sanitizer inputs require additional processing, which leads to higher production cost.
• Furthermore, reduced production capacity, owing to decrease in demand, impacted the bio fuel market growth negatively. The activities in biodiesel plants in Canada were halted, and the country operated with around 50-70% production capacity.
• However, during May and June, biofuel export market improved in Canada due to surge in demand for exported bio fuel in the European Union and U.S. According to a report by BiodeselMagazine, the U.S. accounted for around 99% of Canada’s total biodiesel exports.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Increase in demand for energy across the globe is the driving factor in the liquid bio fuel market. In addition, environmental concerns toward increasing carbon dioxide emissions lead to the high usage of bio-based products. Liquid bio fuels are renewable, thus making the process cost-effective. This technique helps many regions not to be dependent on foreign fossil fuel. Hence, the liquid bio fuel market brings economic security and a high employment rate. Furthermore, bio fuels require less maintenance and it is easily adaptable to current engine designs. However, liquid bio fuels require high cost for production, which will impact the growth of the bio fuels market. The other major restraint for the bio fuels market is the usage of fertilizers in crop plantation causing harmful effects in bio fuels, which are produced from crops. Thus, fertilizers have a negative impact on the environment.

Key benefits of the report

• This study presents the analytical depiction of the global liquid bio fuel market industry along with the current trends and market estimation to determine the imminent investment pockets.
• The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the liquid bio fuel market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the liquid bio fuel market growth scenario.
• The report provides a detailed market analysis depending on competitive and how the competition will take shape in coming years.
• This report helps users in comprehending the key product segments and their future.

 Liquid Bio Fuel Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights