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North America Biofuel Market Trends

Report ID: GMI8700
Published Date: Mar 2024
Report Format: PDF

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North America Biofuel Market Trends

The North America biofuel industry is experiencing a notable shift towards advanced biofuels, waste-to-biofuel technologies, and stringent sustainability standards. Advanced biofuels, such as cellulosic ethanol and renewable diesel, are gaining traction due to their higher energy density and lower emissions. Conversion of waste materials into biofuels is addressing waste management challenges and promoting circular economy practices. Additionally, sustainability standards for biofuels are becoming more rigorous, ensuring a positive environmental impact, and fostering innovation in the sector.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of biofuel was reached USD 70.6 million in 2023 and is set to experience a CAGR of 7.1% through 2032, driven by increasing need to cut greenhouse gas emissions and reduction on fossil fuel reliance.

North America ethanol biofuel market will exceed over USD 85 million by 2032, driven by continuous & exponential increasing government support, feedstock availability along with compatibility.

The U.S. biofuel market revenue to cross USD 106 million by 2032, attributed to the environmental regulations and consumer preferences for sustainable alternatives.

ADM, Andersons, Inc., The, Cargill, Chevron Corporation, Clean Energy, CLARIANT, COFCO, FutureFuel Corporation, Gevo, Inc., Green Plains Inc., My Eco Energy, Neste, POET, LLC, Praj Industries, Renewable Energy Group, Rentech, TotalEnergies, U.S. Gain, UPM and VERBIO AG.