What is Renewable Hydrocarbon FuelMarket?
Renewable hydrocarbon fuel is drop-in alternative option for petroleum derived fuel. Renewable hydrocarbon fuel is produced from different feedstock as vegetable oil, biomass, and animal fat. With the help of different process such as Oleo chemical production, Thermochemical process, Biochemical process are used for the manufacturing of fuel. Owing to increasing global demand for secure, sustainable, and clean energy, combined with government mandates to increase blending in automotive fuels, renewable hydrocarbon fuel market is expected to grow at a significant rate during the forecast period.
Renewable Hydrocarbon Fuel Market Report Coverage
Report Coverage | Details |
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Study Timeframe | 2018 to 2030 |
Base Year | 2023 |
Growth Drivers | - Rising Use of Waste and Leftover Materials as Feedstock
- Increasing Development of Sophisticated Biofuels
- Government Mandates to Increase Blending In Automotive Fuels
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Challenges & Pitfalls | - Dealing With International Trade and Transportation of Biofuel
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Opportunities
The Growing Aviation Industry, Increased Investment in Renewable Energy Solutions and Technological Advancements in Manufacturing Processes
Restraints
The Manufacturers Covered in the Study are:
BP plc. (United Kingdom), Chevron Corporation (United States), ENI (Roma), Abengoa Bioenergia S.A (Spain), ExxonMobil (United States), Idemitsu Kosan Co, Ltd (Japan), Neste (Finland), Phillips 66 Company (Texas), PTT Global Chemical Public Company (Thailand) and Royal Dutch Shell (London)
Available Customization:
A list of players that can be included in the study on an immediate basis are Total Energies (France) and Stanlow Terminals (United Kingdom).
Market Development Activities
In November 2022, Neste, the world's leading producer of renewable diesel and sustainable aviation fuel derived from waste and residue raw materials, acquired Crimson Renewable Energy Holdings, LLC's used cooking oil (UCO) collection and aggregation business and related assets in the United States. Competitive Landscape. This acquisition strengthen the Neste's global platform for obtaining raw materials and assist its mission to meet customers' increasing need for renewable goods.
In August 2022, Stanlow terminals announced plans to build the Uk's largest biofuel storage hub in the northwest of England as part of a focus on emerging opportunities amid the energy transition and net-zero goals. With this plant stanlow terminals expand its presence in renewable hydrocarbon fuel market