What is Bio-Oil Market?
Biofuels, derived from agricultural crops including conventional food plants or from special energy crops. And, also derived from forestry, agricultural or fishery products or municipal wastes, as well as from agro-industry, food industry and food service by-products and wastes. Around 85% of the liquid biofuels are currently produced in the form of bioethanol with the main producers being Brazil and the USA. Biodiesel production is essentially concentrated in the European Union.
The market study is being classified by Type (Ethanol, Biodiesel, Methanol and Biobutanol), by Application (Industrial Fuels, Transportation Fuels, Chemical Industry and Others) and major geographies with country level break-up.
Diester Industries (France), Neste Oil Rotterdam (Netherlands), Archer Daniels Midland Company (United States), Infinita Renovables SA (Spain), Cargill (United States), Marseglia Group (Ital Green Oil Srl) (Italy), Glencore (Switzerland), Renewable Energy Group (United States), RBF Port Neches (United States), Ag Processing Inc. (United States), Elevance (United States), Marathon Petroleum Corporation (United States), Evergreen Bio Fuels and Minnesota Soybean Processors (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Caramuru (Brazil), Hebei Jingu Group (China) and Green Plains (United States).
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Bio-Oil market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Bio-Oil market by Type, Application and Region.
On the basis of geography, the market of Bio-Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Demand from Transportation Industry
- Surging Adoption of Renewable Resources Globally
Market Trend
- Adoption of Advanced and Efficient Conversion Technologies by Key Market players
Restraints
- Limited Production and Availability of Biofuel
Opportunities
- The Growth in the Demand of Biodiesel that is Used as Replacements for Transportation Fuels
Challenges
- Policy Instability in Various Geographic Regions
The Environmental Protection Agency (EPA) currently administers the RFS to impose an annual minimum volume of biofuels based on the estimated total volume of transportation fuels. Since the RFS indirectly subsidizes capital investment in the construction of biofuels plants, the RFS is expected to continue to stimulate growth in the biofuels industry. Over the long term, this mandate will likely be a more significant policy measure than tax incentives in promoting the use of biofuels.
Analyst Comment
"Synthetic Genomics is one of the few companies founded during the ‘gold rush’ period of algal biofuel development that still has a focus on fuel, having partnered with ExxonMobil to work towards producing biofuel from algae at an unprecedented scale. After years of biological research into optimising algae oil production, the partners are now progressing on an outdoor field study growing naturally-occurring algae in several contained ponds in California."
Key Target Audience
Bio-Oil Producers, Technology Producers, Government regulatory Bodies, Transportation Sector, End Users and Others