Liquid Biofuels Market by Type (Ethanol, Biodiesel), by Feedstock (Sugar Crops, Starch Crops, Vegetable Oils, Animal Fats, Others), by Process (Fermentation, Transesterification, Others), by Application (Transportation, Power Generation, Heat), by North America (U.S., Canada) Forecast 2024-2032
The Liquid Biofuels Market size was valued at USD 137.26 USD Billion in 2023 and is projected to reach USD 244.54 USD Billion by 2032, exhibiting a CAGR of 8.6 % during the forecast period. Liquid biofuels are sustainable fuels which are the product of renewable feedstocks like residues of agriculture, crops, and waste. They are synthesized through fermentation or chemical processes to replace oil, which is a major source of pollution. They're traditionally sustainable and the gaseous emissions are comparatively low. Liquid biofuels are adaptable to be used in the existing infrastructure and are able to circulate with no major alterations. They are utilized to accomplish those functions: transportation, generation of electricity, and heating. Ethanol and biodiesel are the main oppositions. Ethanol is a product of agriculture (corn or sugarcane) and biodiesel is the fruit of vegetable oils or animal fats. Cultivation of these fuels therefore lessens our dependence on limited fossil fuels while reducing greenhouse gas emissions at the same time and implies an increase in rural development thanks to additional agricultural products’ demand.
By Type:
By Feedstock:
By Process:
By Application:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 8.6% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 8.6% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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