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Lignocellulosic Feedstock-based Biofuel Market Segmentation by Type (Biochemical, and Thermochemical); and by Application (Automotive, Aviation, and Others) – Global Demand Analysis and Opportunity Outlook 2020-2029

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Extensive insights into the Growth of Lignocellulosic Feedstock-based Biofuel Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Lignocellulosic Feedstock-based Biofuel Market Highlights 2020-2029

The lignocellulosic feedstock-based biofuel market is estimated to attain a robust CAGR over the forecast period, i.e., 2021-2029. The growth of the market can be attributed to the growth of transportation industry, as transportation industry is heavily dependent upon fossil-based fuels, such as gasoline and natural gas that causes an extensive increase in greenhouse gas emissions over the years. Therefore, the transportation industry is steadily moving towards low-carbon alternatives such as biofuel to reduce greenhouse gas emissions. Biofuels can significantly enhance energy security and reduce petroleum import dependence. Presently, renewable energy accounts for around 14% of global energy demand and 73% of which comes from biofuels. Several countries, including Brazil, and China, are increasingly adopting bioethanol to curb rising air pollution concerns. New developments and governments' incentives will further boost the production and adoption of biofuels. As per the International Energy Agency (IEA), global biofuel production in 2019 was 162.8 billion litres.

Lignocellulosic Feedstock-based Biofuel Market

The market is segmented based on type into biochemical and thermochemical out of which, the biochemical segment is anticipated to grab the largest share by the end of 2021 on account of efficient and cost-effective conversion process.

On the basis of application, the automotive segment in the lignocellulosic feedstock-based biofuel market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the increasing consumers of fuel-based vehicles in the world, and government policies and norms that mandated countries to use biofuels. CLICK TO DOWNLOAD SAMPLE REPORT

Global Lignocellulosic Feedstock-based Biofuel Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing awareness about the waste management system and increasing demand for fuel-based vehicles in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to a large number of fuel-based vehicles in the region. The US and Canada have already mandated the use of biofuel. The market in Europe is also anticipated to occupy a significant share in the lignocellulosic feedstock-based biofuel market on account of its policies and environmental norms that mandated the use of biofuels in vehicles, to lower the greenhouse gas emission rate. As per the analysis of the European Biomass Industry Association, bioethanol production capacity has increased in the past few years.

Lignocellulosic Feedstock-based Biofuel Market

The global lignocellulosic feedstock-based biofuel market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global lignocellulosic feedstock-based biofuel market includes the following segments:

By Type

  • Biochemical
  • Thermochemical

By Application

  • Automotive
  • Aviation
  • Others

Growth Drivers

  • Rising Consumption of Bioethanol as a Transport Fuel
  • Increasing Awareness & Innovation in Waste Management System

Challenges

  • Adverse environmental impact of biofuel production.

Top Featured Companies Dominating the Market

  •  Abengoa SA
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • China Petroleum & Chemical Corp.
  • Clariant International Ltd.
  • DuPont de Nemours Inc.
  • Gevo Inc.
  • New Energy Blue LLC
  • Fiberight LLC
  • Neste Oyj
  • Iogen Corp.

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