Need to Shift from Fossil Fuels to Renewable Energy Resources drives Biofuels Market Globally

According to Goldstein Research, Biofuel Industry is expected to reach more than USD 246.52 billion by 2024 from USD 168.18billion in 2016, growing at a compounded annual growth rate of 4.92% over the forecast period 2016-2024. First-generation biofuel, also known as starch-based ethanol, represents the vast majority of biofuel that is being added, as a 10% combination, into gasoline today. For the most part, in the US, it is derived from corn. However, key challenge for evolving the next generations of biofuels is obtaining economical feedstock. Feedstock cost adds 80 percent to 90 percent of the final fuel price for most procedures and is critical to the economic feasibility of future generations of biofuels.
Further, demand for bioenergy in the transportation sector is majorly propelled by blending mandates in major economies and by sustained fuel use across the globe. Global biofuel market is further expected to be driven by the environmental concerns over carbon emissions which are pushing the government authorities to develop stringent policies for a better livelihood.
For Research on Global Biofuel Market, visit: https://www.goldsteinresearch.com/report/global-biofuel-industry-market-analysis
Market Segmentation
On the basis of our in-depth analysis, Global Biofuel Market can be segmented as follows:
By Form of Biofuel
• Liquid Biofuel
• Gaseous Biofuel
• Solid Biofuel
By Product Type
• Bio-Ethanol
• Bio-Diesel
• Bio-Methanol
• Bio-Hydrogen
• Pellets
By Feedstock
• First Generation
• Corn
• Soybeans
• Sugar Cane
• Vegetable Oil
• Others
• Second Generation
• Grass
• Jatropha and other seed crops
• Waste vegetable oil
• Municipal solid waste
• Third Generation
• Algae feedstock
By Process
• Biochemical Process
• Thermochemical Process
By End User
• Power Generation
• Transportation
• Others
By Region
• North America (US, Canada) Biofuel Market {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe)Biofuel Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) Biofuel Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Latin America (Brazil, Mexico and Rest of Latin America) Biofuel Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) Biofuel Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

“Biofuel Market Analysis” by Goldstein Research contains a detailed overview of the biofuel market. Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such asArcher Daniel Midland, Cosan, Fujian Zhongde Energy, Guangzhou Devotion Thermal Technology, Gushan Environmental Energy, Henan Tianguan Enterprise, Jiangsu Hengshunda Bio-Energy, Jiangsu Yueda Kate New Energy etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. Overall, the report signifies the global biofuel market present trends along with the market estimate that will help industry consultants, existing and new players searching for opportunities and market expansion.
Get market report sample @ https://www.goldsteinresearch.com/request-sample/global-biofuel-industry-market-analysis

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