The research report talks about the global market landscape of the biofuels over the course of the given forecast period of 2017 to 2021 and focuses to provide an outlook of the market. The research report maps the global biofuels market with respect to the latest trends that are coming up in the market. Important driving factors along with aspects that might impede the market growth and opportunities that may arise during the given forecast period are also studied in the report.
The research report also provides an in-depth assessment of the current market dynamics and maps the competitive landscape of the global biofuels market. The study report gives out extensive information on both qualitative as well as quantitative assessment of the global biofuels market by studying the data collected from key market players as well as industry professionals. The report also provides crucial information on the established market players that are presently plying their trade in the global biofuels market. The report gives out the overall growth prospects of the market across the globe for the given forecast period of 2017 to 2021.
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Biofuels are a renewable source of energy that are created with the help of biological processes such as agricultural or anaerobic digestion, instead of the fuels produced through conventional geological processes such as petroleum and coal. Biofuels chiefly include biodiesel and ethanol and have several benefits such as low carbon emission over fossil fuels.
The global market for biofuels is expected to grow at a stable CAGR of 3.87% over the course of the given forecast period of 2017 to 2021.
The increasing demand for energy across the world is aiding the mining and energy industry in taking a drastic leap ahead towards new types of fuel. This coupled with the increasing environmental concerns is resulting to more investments in the growth of a clean energy source. These aspects cumulatively are forming a solid foundation for the overall development of the global biofuels market. Over the last few years, biofuels have gained enough momentum since they are procured through biological procedures and are nature friendly and can act as a replacement for exhaustible energy sources.
Growing economic development, strict environmental rules, and norms encouraging the usage of biofuels, and growing import bills of energy that are negatively impacting the overall trade balance are some of the key factors that are responsible for driving the development of the global biofuels market. In addition to this, the development of biofuels that are more sustainable is another factor that is expected to create lucrative opportunities in the global biofuels market and thus drive the overall growth.
However, there are some factors which may have negative impact on the growth of the global biofuels market. There are some hurdles associated with distribution, and the growth of biofuels and the rivalry amongst the food and fuel leading to high prices of food can be seen as some of the restraining factors for the growth of the global biofuels market. Constant fluctuations in the prices of oil is also expected to act as impeding factor for the growth of the global market.
In terms of geographical segmentation, the global biofuels market can be split into key regions such as the Americas, Asia Pacific, and the Middle East and Africa.
Some of the key players in the global biofuels market include names such as Archer Daniels Midland, INEOS, NESTE, Cargill, Renewable Energy Group, Altenesol, Algeonol, Bay Biodiesel, Argent Energy, Biomax Fuels, and GranBio among others.
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