North America Biofuel Market Growth, Size, Trends, Demand, Share, Revenue and Future Outlook
North America Biofuel Market Size- By Fuel Type, By Feedstock, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Apr-2024 | Report ID: POAE2430 | Pages: 1 - 152 | Formats*: |
| Category : Power & Energy | |||
North America Biofuel Market Introduction and Overview
According to SPER Market Research, the North America Biofuel Market is estimated to reach USD 143.62 million by 2033 with a CAGR of 7.36%.
The report includes an in-depth analysis of the North America Biofuel Market, including market size and trends, product mix, distribution channels, and supplier analysis. Liquid transportation fuels, often known as biofuels, are produced from plant resources such as wood and wood waste, agricultural crops and leftovers, aquatic plants, animal wastes, livestock residues, and other organic waste material from urban areas.
- The U.S. Department of Energy (DOE) announced in January 2023 that funding totaling USD 118 million had been granted to 17 projects with the goal of hastening the nation's production of sustainable biofuels for use in industry and transportation. The DOE wants to reduce greenhouse gas emissions by at least 70% by 2030 and achieve cost-competitive biofuels. This program is in line with that aim.
- The Environmental Protection Agency (EPA) and the U.S. Department of Energy (DOE) announced in February 2024 that they would be providing USD 9.4 million in financing to encourage the development of advanced biofuels. As a component of President Biden's Investing in America Agenda, this program seeks to boost the rural economy, lessen dependency on foreign oil, and promote the manufacturing of cleaner fuels.
Market Opportunities and Challenges
Opportunities: There is a noticeable trend in the North American biofuel business toward sophisticated biofuels, waste-to-biofuel technology, and strict environmental guidelines. Advanced biofuels are becoming more popular because of their reduced emissions and better energy density. Examples of these include cellulosic ethanol and renewable diesel. The process of turning waste materials into biofuels helps to promote circular economy principles and solve waste management issues. Furthermore, stricter sustainability requirements for biofuels are guaranteeing a beneficial effect on the environment and encouraging innovation in the industry.
Challenges: The supply of affordable and sustainable feedstock is a major challenge to the development of biofuels. The production of food, feedstock for biofuels, and other agricultural goods compete with each other for resources and land. A complicated topic that requires careful attention is how to minimize land use change and environmental implications while maintaining feedstock supply. For example, the worldwide supply and trade of important commodities like vegetable oils and cereal grains are significantly impacted by the strong demand for biofuel feedstock, according to a 2021 research by the Food and Agriculture Organization (FAO) and the Organization for Economic Co-operation and Development (OECD).
Market Competitive Landscape
A significant portion of the North American biofuel market is accounted for by POET, LLC, Green Plains Inc., ADM, Cargill, and Chevron Corporation because of their strong feedstock sourcing, significant production capacity, and emphasis on technical innovation. The company's dedication to sustainable practices and diversification into a number of biofuel products strengthen its position in the market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Fuel Type, By Feedstock, By Application |
| Regions covered | US, Canada, Mexico, Rest of North America |
| Companies Covered | ADM, Chevron Corporation, Clean Energy, Cargill, COFCO, FutureFuel Corporation, Gevo, Inc., Poet LLC, Total Energies, UPM, Verbio |
COVID-19 Impact on North America Biofuel Market
The market for biofuels in North America has been significantly impacted by the COVID-19 epidemic. During the early phases of the crisis, demand for transportation fuels, especially biofuels, fell precipitously due to widespread lockdowns and limitations on travel and transit. As a result, numerous biofuel plants reduced or stopped their operations, which decreased the amount of ethanol produced. Production of biofuel was further hampered by supply chain interruptions, such as insufficient feedstock availability and logistical difficulties. Nonetheless, the market for biofuels has steadily rebounded as economies have progressively opened up and containment measures have become more aggressive.
Key Target Audience:
- Transportation Sector
- Energy Industry
- Agricultural Sector
- Government and Policy Makers
- Environmental Organizations
- Investors and Financial Institutions
- Research Institutions and Academia
Our in-depth analysis of the North America Biofuel Market includes the following segments:
| By Fuel Type: |
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| By Feedstock: |
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| By Application: |
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Key Topics Covered in the Report:
- North America Biofuel Market Size (FY’2024-FY’2033)
- Overview of North America Biofuel Market
- Segmentation of North America Biofuel Market By Fuel Type (Biodiesel, Ethanol)
- Segmentation of North America Biofuel Market By Feedstock (Coarse Grain, Sugar Crop, Vegetable Oil)
- Segmentation of North America Biofuel Market By Application (Transportation, Aviation)
- Expansion Analysis of North America Biofuel Market
- Problems and Obstacles in North America Biofuel Market
- Competitive Landscape in the North America Biofuel Market
- Impact of COVID-19 and Demonetization on North America Biofuel Market
- Details on Current Investment in North America Biofuel Market
- Competitive Analysis of North America Biofuel Market
- Prominent Players in the North America Biofuel Market
- SWOT Analysis of North America Biofuel Market
- North America Biofuel Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the North America Biofuel Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. North America Biofuel Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Biofuel Market
7. North America Biofuel Market, By Fuel Type (USD Million) 2020-2033
7.1. North America Biofuel Market Size, Share and Forecast, By Fuel Type, 2020-20267.2. North America Biofuel Market Size, Share and Forecast, By Fuel Type, 2027-20337.3. Biodiesel7.4. Ethanol
8. North America Biofuel Market, By Feedstock (USD Million) 2020-2033
8.1. North America Biofuel Market Size, Share and Forecast, By Feedstock, 2020-20268.2. North America Biofuel Market Size, Share and Forecast, By Feedstock, 2027-20338.3. Coarse Grain8.4. Sugar Crop8.5. Vegetable Oil
9. North America Biofuel Market, By Application (USD Million) 2020-2033
9.1. North America Biofuel Market Size, Share and Forecast, By Application, 2020-20269.2. North America Biofuel Market Size, Share and Forecast, By Application, 2027-20339.3. Transportation9.4. Aviation
10. North America Biofuel Market Forecast, 2020-2033 (USD Million)
10.1. North America Biofuel Market Size and Market Share
11. North America Biofuel Market, By Region, 2020-2033 (USD Million)
11.1. North America Biofuel Market Size and Market Share By Region (2020-2026)11.2. North America Biofuel Market Size and Market Share By Region (2027-2033)11.3. US11.4. Canada11.5. Mexico11.6. Rest of North America
12. Company Profile
12.1. ADM12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments12.2. Chevron Corporation12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments12.3. Clean Energy12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments12.4. Cargill12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments12.5. COFCO12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments12.6. FutureFuel Corporation12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments12.7. Gevo, Inc.12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments12.8. Poet LLC12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments12.9. Total Energies12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments12.10. UPM12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments12.11. Verbio12.11.1. Company details12.11.2. Financial outlook12.11.3. Product summary12.11.4. Recent developments12.12. Others
13. List of Abbreviations
14. Reference Links
15. Conclusion
16. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
North America Biofuel Market is projected to reach USD 143.62 million by 2033, growing at a CAGR of 7.36% during the forecast period.
North America Biofuel Market size from 2022. The Market is expected to reach USD 143.62 million by 2033, at a CAGR of 7.36% during the forecast period.
North America Biofuel Market CAGR of 7.36% during the forecast period.
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North America Biofuel Market size is 143.62 million from 2024 to 2033.
North America Biofuel Market Segment is covered By Fuel Type, By Feedstock, By Application.
The North America anticipated to have the highest market share in the North America Biofuel Market.
The key players in the market include Companies Covered ADM, Chevron Corporation, Clean Energy, Cargill, COFCO, FutureFuel Corporation, Gevo, Inc., Poet LLC, Total Energies, UPM, Verbio
As a component of President Biden's Investing in America Agenda, this program seeks to boost the rural economy, lessen dependency on foreign oil, and promote the manufacturing of cleaner fuels.
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