Biofuels are produced through contemporary biological processes, such as anaerobic digestion rather than a fuel produced by geological processes. Second-generation biofuels are produced from non-food crops such as organic waste, wood, biomass crops, and food crop waste, whereas third-generation biofuels are based on improvements in the production of biomass and employ engineered energy crops, such as algae as their feedstock. Algae-based biofuels are expected to be manufactured into a wide range of fuels, such as petrol, diesel, and jet fuel.
MARKET DYNAMICS
A surge in the necessity to produce sustainable and clean energy with negligible environmental impact is driving the growth of the next generation biofuel market. However, the feedstock cost contributes 80% to 90% of the final fuel cost which makes it difficult to increase the market growth may restrain the growth of the next generation biofuel market. Furthermore, the production of next generation biofuels is experiencing growth in the countries with no or fewer petroleum reserves as it helps the countries to overcome spending on import of biofuels is anticipated to create a market opportunity for the next generation biofuel market during the forecast period.
MARKET SCOPE
The "Global Next Generation Biofuel Market Analysis To 2028" is a specialized and in-depth study of the energy and power industry with a special focus on the global market trend analysis. The next generation biofuel market report aims to provide an overview of the next generation biofuel market with detailed market segmentation by biofuel type, process, application, and geography. The global next generation biofuel market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading next generation biofuel market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global next generation biofuel market is segmented on the basis of biofuel type, process, and application. Based on biofuel type, the next generation biofuel market is segmented into biodiesel, biogas, biobutanol, and others. On the basis of process, the next generation biofuel market is segmented into biochemical process and thermochemical process. Based on application, the next generation biofuel market is segmented into transportation, power generation, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global next generation biofuel market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The next generation biofuel market by each region is later sub-segmented by respective countries and segments. The next generation biofuel market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the next generation biofuel market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the next generation biofuel market in these regions.
IMPACT OF COVID-19 ON NEXT GENERATION BIOFUEL MARKET
The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic had a negative impact on the next generation biofuel market. Lockdown imposed due to the outbreak of the COVID-19 pandemic resulted in a temporary ban on import & export and manufacturing & processing activities across various industries and power generation, which decreased the demand for next generation biofuels from these consumers. In addition, a halt in building & construction of new electric utility infrastructures, renewable power plants, grid networks, and other power plants, owing to unavailability of workers and an increase in demand-supply gap are projected to hamper the market growth during the pandemic period. This resulted in a decline in market growth in the second, third, and fourth quarters of 2020. However, the market had recovered by the first quarter of 2021, as manufacturing & processing activities had begun in various economies across the globe, which had improved the global economy.
MARKET PLAYERS
The reports cover key developments in the next generation biofuel market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from next generation biofuel market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the next generation biofuel market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the next generation biofuel market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Abengoa S.A.
- Algenol Biofuels
- Chemtex group
- Enerkem
- Gevo
- GranBio
- Joule Unlimited, Inc.
- POET-DSM
- Solazyme
- Sundrop Fuels Inc.