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2021
Next Generation Biofuels Market

Next Generation Biofuels Market

by Biofuel Type (Biodiesels, Biogas, Biobutanol, and Others), Process (Biochemical Process and Thermochemical Process), Raw Material (Lignocellulose, Jatropha, Camelina, Algae, and Others), and Application (Transportation, Power Generation and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Update Available On-Demand

Report Code: A01588
Pages: 335
Jul 2021 | 16640 Views
Author(s) : Snehal Mohite, Rutuja Danekar , Eswara Prasad
Tables: 248
Charts: 56
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COVID-19

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Next Generation Biofuels Market Outlook - 2030

The global next generation biofuels market size was valued at $6.0 billion in 2020, and is projected to reach $59.4 billion by 2030, growing at a CAGR of 26.4% from 2021 to 2030. Biofuels are produced through contemporary biological processes, such as anaerobic digestion rather than a fuel produced by geological processes. Second-generation biofuels are produced from non-food crops such as organic waste, wood, biomass crops, and food crop waste, whereas third-generation biofuels are based on improvements in the production of biomass and employs engineered energy crops, such as algae as its feedstock. Algae-based biofuels are expected to be manufactured into a wide range of fuels, such as petrol, diesel, and jet fuel.

The emergence of COVID 19 hampered the development of the next-generation biofuels sector in 2020, and it is expected to continue to do so until the end of 2021.

The next generation bio fuel market is majorly driven by rise in necessity to produce sustainable and clean energy, with negligible environmental impact. Second generation biofuel production technology allows manufacturing of commercially acceptable fuel that is developed with the help of inedible biomass. The key feedstocks that are used for next generation biofuels are non-food crop residues and agricultural residues, energy crops, wastes procured from forestry industry and algae. The key factors affecting the market growth of next generation biofuels are obtaining economical feedstock. However, feedstock cost contributes 80 to 90% of the final fuel cost which makes it difficult to increase the market growth. Moreover, production of next generation biofuels is experiencing growth in the countries with no or less petroleum reserves as it helps the countries to overcome spending toward import of biofuels. 

Next-Generation-Biofuel-Market-2021-2030

The next generation biofuels market is segmented into biofuel type, process, raw material, application, and region. By biofuel type, the market is divided into biodiesels, biogas, biobutanol, and others. By process, it is bifurcated into biochemical process and thermochemical process. By raw material, it is fragmented into lignocellulose, Jatropha, Camelina, Algae and others. By application, it is classified into transportation, power generation and others. Region wise, the market is studied throughout North America, Europe, Asia-Pacific, and LAMEA.

The key player profiled in this report include Algenol Biofuels, Chemtex Group, Abengoa S.A., Enerkem, Gevo, GranBio, Joule United, Inc., POET-DSM, Solazyme and Sundrop Fuels Inc. The global market report provides in-depth competitive analysis as well as profiles of these major players.

Next generation biofuels market, by biofuel type

By biofuel type, the biodiesel segment held the largest revenue in the global next generation biofuels market share in 2020. The market for next generation biodiesel, that is, biomass-based biodiesel is expected to grow during the forecast period, due to the blending mandates imposed by governments.

Next Generation Biofuels Market
By Biofuel Types

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Others is projected as the most lucrative segment.

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Next generation biofuels market, by process

By process, the thermochemical process segment expected to grow with healthy CAGR during the next generation biofuels market forecast period. Easy installation along with cost effectiveness over its available counterparts will drive the next generation biofuels industry growth. 

Next Generation Biofuels Market
By Process

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Thermochemical Process is projected as the most lucrative segment.

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Next generation biofuels market, by raw material

By raw material, the lignocellulose segment held the largest revenue share in the global next generation biofuels market. Lignocellulose are biomass consisting several materials such as non-starch based fibrous part of plant material with distinctive physical and chemical characteristics.

Next Generation Biofuels Market
By Raw Materials

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Lignocellulose is projected as the most lucrative segment.

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Next generation biofuels market, by application

By application, the transportation segment was the highest revenue contributor in 2020. Moreover, government mandates and rise in adoption of biofuels to reduce GHG emissions from vehicles as second-generation biofuels can considerably reduce the vehicular emission, which propels the next generation biofuels market growth.

Next Generation Biofuels Market
By Application

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Transportation is projected as the most lucrative segment.

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Next generation biofuels market, by region 

By region, North America is expected to gain significant traction in the global next generation biofuels market owing to rising demand mainly form countries such as Canada, U.S., and others. 

Next Generation Biofuels Market
By Region

2030
North America 
Europe
Asia Pacific
Lamea

North America holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.

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Key benefits for stakeholders

  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • It outlines the current next generation biofuels market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
  • The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
  • The key drivers, restraints, & next generation biofuels market opportunities and their detailed impact analysis are explained in the study.
  • The profiles of key players and their key strategic developments are enlisted in the report.

Impact of COVID-19 on the global next generation biofuels market

Lockdown imposed due to the outbreak of COVID-19 pandemic resulted in temporary ban on import & export and manufacturing & processing activities across various industries and power generation, which decreased the demand for next generation biofuels from these consumers.  In addition, halt in building & construction of new electric utility infrastructures, renewable power plants, grid network, and other power plants, owing to unavailability of workers and increase in demand–supply gap are projected to hamper the market growth during the pandemic period. This resulted in decline in market growth in the second, third, and fourth quarters of 2020. However, the market is expected to recover by the first quarter of 2021, as COVID-19 vaccination has begun in various economies across the globe, which is expected to improve the global economy.

Next Generation Biofuels Market Report Highlights

Aspects Details
By Biofuel Types
  • Biodiesel
  • Biogas
  • Biobutanol
  • Others
BY PROCESS
  • Biochemical process
  • Thermochemical process
BY RAW MATERIALS
  • Lignocellulose
  • Jatropha
  • Camelina
  • Algae
  • Others
By Application
  • Transportation
  • Power Generation
  • Others
BY REGION
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players Algenol Biofuels, Chemtex group, Abengoa S.A., Enerkem, Gevo, GranBio, Joule Unlimited, Inc., POET-DSM, Solazyme, Sundrop Fuels Inc.
 

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The next generation biofuels market is moving toward growth stabilization phase in its industry life cycle. The factors driving the growth of the market for next generation biofuels include rise in demand for transportation, power generation, and others. Biodiesel is a smooth renewable gas acquired from biomass. It is a long-chain mono-alkyl ester of fatty acid derived from vegetable oils and animal fat via the technique diagnosed as trans esterification that converts oils and fat into chemicals. Biochemical conversion of biomass entails uses of bacteria, microorganisms, and enzymes to breakdown biomass into gaseous or liquid fuels, consisting of biogas or bioethanol. Algae are diverse group of photosynthetic organisms. The production of biofuels start from the process of harvesting of algae, then extraction of oil, and finally the oil refined is used to produce biofuels.

The Asia-Pacific next generation biofuels market is expected to grow at the highest rate, owing to increase in investment in R&D activities to develop advanced biofuels. Australia, India, and China invest for the development of advanced biofuels. Other factors that are expected to drive the demand for the market growth in the Asia-Pacific are feedstock availability and rapid increase in number of production facilities.

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FREQUENTLY ASKED QUESTIONS?

A. The global next generation biofuels market has driven by the factors, such as sustainable and clean source of fuel, easy availability of raw materials that are non-food crops & wastes, lesser concentration of greenhouse gases as compared to conventional fuels.

A. funding by various private & government organizations to support R&D in the field of advanced biofuels, environmental benefits related to advanced biofuels over conventional first-generation biofuels, and rise in awareness among public for energy security supplement the market growth are anticipated to propel next generation biofuel market demand over the forecast period.

A. To get latest version of next generation biofuels market report can be obtained on demand from the website.

A. The market players are adopting various growth strategies and also investing in R&D extensively to develop technically advanced unique products which are expected to drive the market size.

A. North America region will provide more business opportunities for next generation biofuel market in coming years

A. The top ten market players are selected based on two key attributes - competitive strength and market positioning

A. Application segment holds the maximum share of the next generation biofuel market

A. Algenol Biofuels, Chemtex Group, Abengoa S.A., Enerkem, Gevo, GranBio, Joule United, Inc. are the top players in next generation biofuel market.

A. Transportation and power generation application are the potential customers of next generation biofuel industry

A. The global next generation biofuel market was valued at $59.4 Billion in 2028

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