Lignocellulosic Feedstock-based Biofuel Industry - Regional Synopsis
Asia Pacific industry is anticipated to account for largest revenue share by 2037, owing to increasing awareness about the waste management system, and increasing demand for fuel-based vehicles in the region., owing to 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.
