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First Generation Biofuel Market Trends

  • Report ID: GMI9452
  • Published Date: May 2024
  • Report Format: PDF

First Generation Biofuel Market Trends

There is a growing emphasis on utilizing non-food sources such as algae, waste oils, and agricultural residues to mitigate the environmental impact associated with traditional feedstocks like corn and sugarcane. This transition is driven by regulatory initiatives with the goal of reducing greenhouse gas emissions and promoting the use of renewable fuels. Additionally, advancements in technology, such as enhanced fermentation techniques and biorefineries, are enhancing the efficiency and sustainability of first-generation biofuel production.

The increasing integration of first-generation biofuels within sectors like aviation and maritime transport reflects ongoing efforts to reduce carbon emissions in these industries. These developments indicate a shifting landscape towards enhanced environmental sustainability and operational efficiency for first-generation biofuels.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of first generation biofuel reached USD 151.3 billion in 2023 and is set to witness 7.1% CAGR during 2024 to 2032, led by growing concerns over climate change and the imperative for sustainable energy sources.

The ethanol segment held a decent share in 2023 and will exceed USD 115.5 billion by 2032, due to increasing government mandates for blending ethanol with gasoline.

North America market will surpass USD 110.2 billion by 2032, driven by government mandates for ethanol blending and robust agricultural infrastructure.

Biogreen Synergy, Blue Soe, Borregard, Caterpillar, Chevron, Coasan, DuPont, Future Fuel, Green Plains, Montuk Renewables, and Neste among others.

First Generation Biofuel Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 15
  • Countries covered: 17
  • Pages: 350
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