Global automotive biofuels market is expected to witness growth over the forecast period, owing to growing consumer awareness regarding effects of conventional fuels on the environment. Low cost of feedstock coupled with reduced gas emissions associated with the use of automotive biofuels is expected to be a key factor driving market growth over the forecast period. Furthermore, rising number of flex-fuel vehicles coupled with stringent regulations governing crude oil production and conventional fuel refining, including motor spirit is expected to bolster automotive biofuels demand.
The automotive biofuels market includes ethanol and biodiesel used as fuel for vehicles instead of conventional fuels. As of 2013, Europe was primary producer and consumer of biodiesel. European Commission passed a resolution making it mandatory to use bioethanol blend fuels for automobiles, which has significantly driven the biofuels market in the region. Asia Pacific, on the other hand, is expected to be the fastest-growing automotive biodiesel and ethanol market over the forecast period. Meanwhile, North American and Latin American markets have reached maturity in bioethanol consumption, but, is still witnessing growth in biodiesel market. This trends are expected to shape the future of the automotive biofuels over the forecast period.
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Key players engaged in automotive biofuels market are Australian Renewable Fuels Limited, BlueFire Renewables, Renewable Energy Group, Inc., Aventine Renewable Energy, Inc., Raizen Energia Participacoes S.A. and Advanced BioFuels.
Australian Renewable Fuels Ltd. is a listed company in Australian Stock Exchange, since 2005, and primarily deals in biodiesel. It has plants in three locations, namely, Adelaide, Picton and Barnawartha. Renewable Energy Group, Inc., is a North American company formed in August, 2005. Their business model is inclusive of nationwide production, distribution and logistics system, focusing in converting natural oils, fats and greases into advanced biofuels. They also convert diverse feedstock to produce renewable chemicals. Aventine Renewable Energy, Inc., is a company based in Pekin, Illinois, producing ethanol and other byproducts from renewable sources. In 2006, it produced around half a billion gallons of fuel for U.S. Raizen Energia Participacoes S.A was formed with the merger of oil major Shell and Cosan, a brazil based company and is engaged in production of sugarcane based ethanol. The company has a production capacity of about 2 billion liters of biofuel per year.
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