Liquid Biofuels Market Size, Share, By Product (Biodiesel, Bioethanol, and Others), By Feedstock (Sugar Crops, Starch Crops, Vegetable Oils, Animal Fats, and Others), By Process (Conventional Biofuel Production, and Advanced Biofuel Production), By Application (Transportation, Power Generation, and Heat), and By Region - Trends, Analysis, and Forecast till 2034

Liquid Biofuels Market Size was valued at USD 92.3 Billion in 2024 and is expected to reach USD 164.3 Billion by 2034 growing at a CAGR of 6.5%

Liquid biofuels are considered to be a substitute fuel for all kinds of internal combustion (IC) engines which work with diesel, gasoline, or kerosene for use in transport vehicles on the land, air, and sea. Liquid biofuels refer to renewable kind of fuels derived from biological sources, mostly plant or algal materials, which are used as mean alternative to conventional fuel from petroleum. Liquid biofuels are liquid-based, Sugar Crops carriers produced from biomass and have shown good potential as alternative fuels for transport and services as a replacement for fossil-based fuels. The main types include bioethanol, particularly from crops like corn and sugarcane, and biodiesel from vegetable oils and animal fats. These fuels are considered highly promising, as they could be used in current engines with little or no adjustment at all to reduce greenhouse gas emissions and say no to the depletion of non-renewable energies. However, their production raises issues related to land use, food security, and overall environmental impact, spurring continuing research for more efficient and sustainable production. Liquid biofuels, depending on their feedstock and conversion technology, may be classified into first-, second-, and third-generation. First-generation biofuels are those based on food crops; second-generation biofuels are based on non-food biomass, including residues from agricultural and dedicated energy crops. Third-generation biofuels involve algal biomass, which is still an ongoing investigation.

The type of biofuel that is produced is dependent on the type of feedstock and the finished product. Bioethanol is generally produced by the fermentation of sugars. Biodiesel is produced through transesterification of the oils. Advanced biofuels, for example, cellulosic ethanol, require more processing than softer parts that break the plant's resistance to more accessible units. Biofuels have several advantages: they lead to less emission of greenhouse gases, offer improvement in energy security for rural agricultural communities, and offer potential developmental impacts. There are negating factors that include the competition with food production, the related controversy over water usage and, increasingly, other inputs, and the arguments over their true carbon neutrality when full-life-cycle emissions are taken into account.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Key Drivers of Target Market:

Growing demand for cleaner fuels

• Increased concern for environmental pollution and climate change is likely to drive an ever-increasing demand for fuels that will replace or reduce fossil fuel combustion. Liquid biofuels can be produced from biomass, providing them with a better carbon footprint compared to conventional gasoline and diesel. They help in the reduction of greenhouse gases and combat climate change, such as rising global temperatures, extreme weather conditions, and ocean acidification.

Depleting fossil fuel resources:

• With increased dependency on fossil fuels across the world, several questions have risen regarding the depletion of resources. Extraction of fossil fuels is becoming expensive and technically difficult. Most importantly, extraction has huge environmental impacts. Biofuels are renewable and sustainable. They will help decrease over-dependency on finite reserves of fossil fuels and reduce the environmental degradation cycle starting from extraction to energy production.

Restrains:

High Production Costs:

• Presently, liquid biofuels are produced at a cost higher than the costs of extraction and refining of fossil-based fuels. This may limit their economic viability, hence making them less competitive at the market level. The costs for the feedstock are variable, given other factors such as market prices and the cost of transport and storage. Complexity in the production of biofuel compared to refining fossils, and through research and development in technologies for crop-based biofuel production, to increase the actual production and efficiency.

Opportunities:

Waste-to-fuel technologies:

• Waste-to-fuel technologies have some environmental and economic benefits. These can divert wastes from landfills, prolonging their useful life while mitigating methane emissions resulting from decomposing organic matter. Besides, they contribute to a circular economy in that they turn waste into an important and valuable product for the production of biofuels. Further, technologies to turn waste into fuel help reduce the impact of climate change by avoiding reliance on fossil fuel supplies and related GHG emissions. Lastly, engaging in such development and the deployment of such technologies may prove the creation of another set of new jobs and stimulate economic growth in the Sugar Crops sector.

The market is segmented based on Product, Feedstock, Process, and Region.

Product Insights:

• Biodiesel: This is a renewable fuel derived from vegetable oils, animal fats, or used cooking oil. Biodiesel is blended with conventional diesel or used in its pure form in certain engines.
• Bioethanol: Commonly referred to as ethanol fuel, it is basically an alcohol-based fuel created from fermented sugars found in sugar crops or starch crops. It is put in a blend with gasoline to reduce the level of emission of greenhouse gases.
• Others: This category includes several other advanced biofuels, including biobutanol, bioethanol, and Fischer-Tropsch fuels, that are not yet commercially available or represent a much lower market share when compared to biodiesel and bioethanol.

Feedstock Insights:

• Sugar Crops: The main biomass material for the production of bioethanol is sugarcane and sugar beet. This proves their richness in sugar content. By themselves, sugarcane is normally grown in regions of the tropics and subtropics where there exist excellent climates and large pieces of land. These crops have a good trend of photosynthesis and involve sunlight in the formation of sugars meant for conversion into ethanol.
• Starch Crops: This is the major starch crop used in the production of bioethanol, especially in North America, because it is richly available, and affordable, and the agricultural infrastructure for its production is already well established. However, its use in the production of ethanol has often been criticized as causing high food prices and land use conversion.
• Vegetable Oils: Many vegetable oils can be used to make biodiesel, such as soybean, palm, and jatropha oils. These can be sourced through the cultivation of dedicated energy crops or from used cooking oil, creating higher value by-products for food-growing crops. However, large-scale production of certain specific vegetable oils, such as palm oil, has raised concern about the environmental footprints associated with its cultivation from deforestation.
• Animal Fats: Used cooking oil, tallow, and other waste animal fats can undergo processing into biodiesel, which would also create a way to recycle the waste materials and lower the requirement for virgin vegetable oils. It may also lower the impact on food security and land usage involved in biofuels production.
• Others: This area relates to non-traditional feedstocks that, in many cases, hold much potential for sustainable production of biofuel. Microalgae are very fast-growing organisms that can be cultured in a controlled environment and are able to produce oils suitable for biofuel conversion. Algae can potentially produce high yields yet not compete with land-use resources dedicated to food production.

Process Insights:

• Conventional Biofuel Production: This relates to the well-established technologies of fermentation and transesterification that fabricate biodiesel and bioethanol from regular feedstock materials. These processes are understood very well and optimized for large-scale production. This biological process is basically where microorganisms such as yeast convert the sugars of feedstocks like corn or sugarcane into ethanol.
• Advanced Biofuel Production: The segment includes the next-generation technologies processing non-conventional feedstock sources like cellulosic biomass, or algae, for the production of biofuels. Advanced biofuels address these concerns of competition with food production generally associated with conventional feedstocks. The technologies are still under development and are the future of a more sustainable and efficient biofuels industry.

Application Insights:

• Transportation: This is the largest application, with liquid biofuels holding the highest market share. Biodiesel is blended with conventional diesel or used without blends in some engines. Bioethanol is mainly blended with gasoline.
• Power Generation: Biofuels might be used in power plants, which help in the running of different types of equipment or tools for electricity generation, thereby leading to a green-energy mix. The application is considered good for the parts of the world with low access to grid electricity or meeting the requirement for diversified nonconventional energy with reduced reliance on, in simple terms, moving away from, fossil fuels.
• Heat: This represents another very large market for biodiesel: the substitution of traditional heating oil in boilers and furnaces, both industrially and for residential use. This allows decarbonizing the heating segment besides enabling less dependence on fossil fuels.

Regional Insights

• North America: The United States and Canada are leading producers and consumers of liquid biofuels, particularly bioethanol, due to the existing production of corn and the favoring governmental policies towards this. This again means that the region has developed an advanced infrastructure for biofuels and an investment in an advanced biofuel technology is currently underway.
• Asia Pacific: It is one of the fastest-growing regions in biofuel output, pointing to growing energy demand, government initiatives encouraging the use of biofuels, and ample resources of biomass. Major contributors to the regional output are China and India, both countries targeted by production specializing in bioethanol from sugarcane and corn.
• Europe: Europe has a mature market for the same, being stressed by high interest in advanced biofuels and stricter environmental laws. Advanced biofuel technologies have been developed and deployed in this region with vigor to meet ambitious renewable energy targets for reducing independence on imported fossil fuels.
• Latin America: Brazil dominates this region with its large production of sugarcane ethanol. Other countries in Latin America solicit biofuel development for better energy security and as a driver for rural development.
• Middle East and Africa: Presently, there is limited biofuel production in this region. There is a growing interest in the same because of vast oilseed resources, increasing energy demand, and the need for diversification away from fossil fuel dependency.

Liquid Biofuels Market Report Scope:

Attribute	Details
Market Size 2024	USD 92.3 Billion
Projected Market Size 2034	USD 164.3 Billion
CAGR Growth Rate	6.5%
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Product - Biodiesel, Bioethanol, and Others. By Feedstock - Sugar Crops, Starch Crops, Vegetable Oils, Animal Fats, Others By Process - Conventional Biofuel Production, Advanced Biofuel Production. By Application- Transportation, Power Generation, Heat
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Product, Feedstock, Process, Application and Region.

By Product:

• Biodiesel
• Bioethanol
• Others

By Feedstock:

• Sugar Crops
• Starch Crops
• Vegetable Oils
• Animal Fats
• Others

By Process:

• Conventional Biofuel Production
• Advanced Biofuel Production

By Application:

• Transportation
• Power Generation
• Heat

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Liquid Biofuels Market include ADM (Archer Daniels Midland Company), Valero Energy Corporation, Green Plains Inc., Gevo, Chevron Corporation, Neste, TotalEnergies, Wilmar International Ltd, Enerkem Inc., POET, LLC, Fulcrum BioEnergy, Inc., Alto Ingredients, Inc., Pacific Biodiesel, Bunge North America Inc., Cargill, Bangchak Corporation Public Company Limited, CropEnergies AG, Emami Agrotech Limited.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

• In June 2024, The FAOSTAT Bioenergy domain was released in June as part of the 11th Global Bioenergy Partnership (GBEP). The Food and Agriculture Organization of the United Nations (FAO) has established a new FAOSTAT domain for bioenergy. The new figures increase FAO's global data on agrifood systems.  The new statistics show the production and final consumption of bioenergy by biofuel type: solid biofuels (animal waste, bagasse, black liquor, charcoal, fuelwood, other vegetal material, and residues); liquid biofuels and gaseous biofuels.
• In September 2023, Prime Minister Modi announced the formation of the Global Biofuel Alliance. PM Modi proposed taking a worldwide campaign to increase ethanol blending in gasoline to 20%, during a G-20 Summit discussion on 'One Earth'. The establishment of the Global Biofuels Alliance is a watershed moment in our drive for sustainability and clean energy. The time has come for all countries to collaborate on fuel mixing. They suggest a global push to increase ethanol blending in petrol to 20%.

• ADM (Archer Daniels Midland Company)*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Valero Energy Corporation
• Green Plains Inc.
• Gevo
• Chevron Corporation
• Neste
• TotalEnergies
• Wilmar International Ltd
• Enerkem Inc.
• POET
• Fulcrum BioEnergy, Inc.
• Alto Ingredients, Inc.
• Pacific Biodiesel
• Bunge North America Inc.
• Cargill
• Bangchak Corporation Public Company Limited
• CropEnergies AG
• Emami Agrotech Limited

“*” marked represents similar segmentation in other categories in the respective section.

Research Objective and Assumption

• Research Objectives
• Assumptions
• Abbreviations

Market Preview

• Report Description
  • Market Definition and Scope
• Executive Summary
  • Market Snippet, By Product
  • Market Snippet, By Feedstock
  • Market Snippet, By Process
  • Market Snippet, By Application
  • Market Snippet, By Region
• Opportunity Map Analysis

Market Dynamics, Regulations, and Trends Analysis

• Market Dynamics
  • Drivers
  • Restraints
  • Market Opportunities
• Market Trends
• Product Launch
• Merger and Acquisitions
• Impact Analysis
• PEST Analysis
• Porter’s Analysis

Market Segmentation, Product, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Biodiesel
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Bioethanol
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Others
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, Feedstock, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Sugar Crops
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Starch Crops
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Vegetable Oils
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Animal Fats
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Others
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, Process, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Conventional Biofuel Production
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Advanced Biofuel Production
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, Application, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Transportation
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Power Generation
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Heat
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Region, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Regional Trends
• North America
  • Market Size and Forecast (USD Bn), By Product, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Feedstock, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Process, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • U.S
    • Canada
• Asia Pacific
  • Market Size and Forecast (USD Bn), By Product, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Feedstock, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Process, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Europe
  • Market Size and Forecast (USD Bn), By Product, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Feedstock, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Process, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Rest of Europe
• Latin America
  • Market Size and Forecast (USD Bn), By Product, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Feedstock, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Process, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • Brazil
    • Mexico
    • Rest of Latin America
• Middle East and Africa
  • Market Size and Forecast (USD Bn), By Product, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Feedstock, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Process, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • GCC
    • Israel
    • South Africa
    • Rest of the Middle East and Africa

Competitive Landscape

• Heat Map Analysis
• Company Profiles

• ADM (Archer Daniels Midland Company)
• Valero Energy Corporation
• Green Plains Inc.
• Gevo
• Chevron Corporation
• Neste
• TotalEnergies
• Wilmar International Ltd
• Enerkem Inc.
• POET
• LLC
• Fulcrum BioEnergy, Inc.
• Alto Ingredients, Inc.
• Pacific Biodiesel
• Bunge North America Inc.
• Cargill
• Bangchak Corporation Public Company Limited
• CropEnergies AG
• Emami Agrotech Limited

The Last Word

• Future Impact
• About Us
• Contact