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The lignocellulosic feedstock-based biofuel market size is forecast to increase by USD 233.85 and estimated to grow/decline at a CAGR of 5.75% between 2022 and 2027. The report includes historic market data from 2017 to 2021. The market is witnessing a growing demand for (Mention Trend Pointers).
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The growing rate targets for ethanol blending is a primary trend in the lignocellulosic feedstock-basket market. Governments have established ambitious emission reduction targets globally because of an alarming increase in GHG emissions. In the transportation sector, countries are mandating the use of biofuels by blending them with gasoline because the former is considered an immediate solution for reducing the current high GHG emissions of the sector.
Moreover, several countries are increasing their blending rate targets not only to address the increasing environmental concerns but also to improve their energy security and reduce their dependence on imports. To meet their renewable and national climate objectives, a number of EU countries are already increasing the use of renewable ethanol within the transport sector. Therefore, the growing ethanol blending rate targets will drive the demand for bioethanol, which will drive the global lignocellulosic feedstock-based biofuel market during the forecast period.
The market share growth by the biochemical segment is estimated to witness significant growth during the forecast period. The biochemical segment held a dominant share in the global lignocellulosic feedstock-based biofuel market in 2022. The importance of research and development to the conversion process is a reason for this. This involves three primary steps, namely pretreatment of feedstock, enzymatic hydrolysis, and fermentation, followed by the recovery of end-products.
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The biochemical conversion process leads to the production of co-products depending on the type of feedstocks used and the pretreatment method employed. Common co-products include lignin, extractives, and unhydrolyzed cellulose. The increasing use of bioethanol to transport fuels and its growing demand, due to the increased ethanol blending targets in many countries, will be a major growth driver for the biochemical segment.
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North America is estimated to contribute 29% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
(Briefly mention the largest region and other regions too)
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for (Segment name).
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The non-cropland-affecting nature of lignocellulosic feedstock is driving growth in the lignocellulosic feedstock-basket market. The increased use of biofuels is a concern for the food industry as it has led to sharp price increases in vegetable oil, feedingstuffs, meal grains, and oilseeds. This is primarily because all biofuels are produced from organic feedstocks that can be used as food or are produced on land that could be used for the production of food. Due to the lack of food supply, biofuels from food-based Feedstock are limiting the possible availability of food and resulting in price increases caused by a disparity between demand and supply.
However, an effective way of achieving feedstock production is the planting of lignocellulosic inputs. The conversion of non-food-producing lands to woody biomass-producing lands does not affect the food price. Therefore, the non-cropland affecting nature of lignocellulosic feedstocks has been increasing the adoption of the feedstock, which is expected to drive the growth of the global lignocellulosic feedstock-based biofuel market during the forecast period.
The competition from alternative fuels is a major challenge in the lignocellulosic feedstock-basket market. In general, to generate electricity, people prefer traditional fossil fuel sources like petrol and diesel as transport fuels or energy from coal and natural gas. Fossil fuels are preferred over biofuels because of the abundant availability of the former and the low availability of the latter. Moreover, the cost of establishing biofuel production farms is high, which further impacts its adoption.
In addition, biofuels can only be blended with the transport fuels such as gasoline and cannot be directly used as fuel in vehicles as this would require significant updates to the engines of the vehicles, thereby driving end-users' costs. Due to the high uptake of fossil fuels across the world, competition in the energy sector is also intense with respect to alternative fuels. The high availability and adoption of alternative fuels among end-users are major challenges that will hinder the growth of the global lignocellulosic feedstock-based biofuel market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Lignocellulosic Feedstock-based Biofuel Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
(Please add only one Vendor details-key offering and Product/Service Segments-Company Name not domain ) ( Full Paragraph)
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The lignocellulosic feedstock-based biofuel market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Lignocellulosic Feedstock-based Biofuel Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.75% |
Market growth 2023-2027 |
USD 233.85 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.25 |
Regional analysis |
North America, South America, Europe, APAC, and Middle East and Africa |
Performing market contribution |
North America at 29% |
Key countries |
US, Canada, China, Germany, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aemetis Inc., ALTRET GREENFUELS Ltd, BDI BioEnergy International GmbH, Borregaard AS, Caterpillar Inc., China Petrochemical Corp., Clariant International Ltd., DuPont de Nemours Inc., ENERKEM Inc., Genera Inc., Gevo Inc., GranBio Investimentos SA, International Flavors and Fragrances Inc., Intertek Group Plc, Iogen Corp., Neste Corp., New Energy Blue LLC, Novozymes AS, Thermo Fisher Scientific Inc., and VERBIO Vereinigte BioEnergie AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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