Overview
Biofuels are liquid or gaseous fuels primarily used in transportation and are derived from biomass within a relatively short timeframe. The two main types of biofuels are bioethanol and biodiesel. Bioethanol is an alcohol created by fermenting sugars from corn and sugarcane.
Biodiesel is produced through the transesterification of vegetable and animal oils and fats. Leading and emerging biofuels are predominantly made from second and third-generation feedstocks, such as grasses and waste vegetable oils.
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Market Growth Trends
Rising Global Usage of Alternative Fuels
Countries around the world are grappling with an energy crisis driven by the volatile prices of key energy sources like petroleum and natural gas. Oil and gas are the dominant fuels for transportation, and their prices can fluctuate due to economic and geopolitical factors.
Emerging nations, such as India, are significant importers of oil and gas, and price volatility can escalate their fuel import bills. Persistently high oil prices may lead to economic challenges by depleting foreign currency reserves.
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Market is segmented
By type: Feedstock, Corn, Sugarcane, Soybeans, Vegetable Oil, Others
By Product: Ethanol Feedstock, Biodiesel feedstock
By Composition: Starch Feedstock, Sugar Feedstocks, Lignocellulosic Feedstocks, Plant Oil & animal fats, Miscellaneous feedstocks
By Region: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa
Market Key Players
- Abengoa Bioenergy
- Aceites Manuelita S.A.
- Archer Daniels Midland Company
- Bajaj Hindusthan Ltd.
- Bangchak Petroleum Public Company Ltd
- Beckons Industries Ltd.
- Biowanze
- Brasil Ecodiesel Ind Com
- Copersucar S.A.
- Ecopetrol S.A.
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