Global biofuels market to exceed $218.7B by 2022

Source: By Helena Tavares Kennedy, Biofuels Digest • Posted: Tuesday, January 9, 2018

In Florida, a report by Zion Market Research predicts the global biofuel market will grow at a CAGR of 4.5%between 2017 and 2022, reaching $218.7 billion by 2022. Asia Pacific biofuels market dominated the overall demand in 2016 and accounted for a significant share in the market. Production in the region increased significantly in recent years driven by the increase in the cumulative land area of biofuels plantation, rising biofuels yield, and high investment in R&D related activities.

Malaysia and Indonesia biofuels industry currently dominate the global production scenario. They are also the major global exporters, covering a large portion of the global trade. Latin America and Middle East & Africa are expected to witness significant growth in areas such as food applications and other industrial uses.

The report lists key players in the biofuels market including Copersucar S.A DSM, Green Plains Inc., Aemetis Inc, Western Dubuque Biodiesel Llc, Solazyme Inc, Renewable Energy Group, Raizen Energia Participacoes S.A, BlueFire Renewables, Aventine Renewable Energy Holdings, Inc. (AVRW), and Australian Renewable Fuels Ltd. among others.