COVID-19 Impact and Recovery Analysis | Biofuels Market 2020–2024 | Increased Adoption of Renewable Sources of Energy to Boost Growth | Technavio
Technavio has been monitoring the biofuels market and it is poised to grow by USD 19.44 billion during 2020–2024, progressing at a CAGR of over 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Archer Daniels Midland Co., Bunge Ltd., Cargill Inc., DuPont de Nemours Inc., INEOS Group Holdings SA, Koch Industries Inc., Neste Corp., Renewable Energy Group Inc., Royal Dutch Shell Plc, and Wilmar International Ltd. are some of the major market participants. The increased adoption of renewable sources of energy will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact
Increased adoption of renewable sources of energy has been instrumental in driving the growth of the market.
Biofuels Market 2020–2024: Segmentation
Biofuels Market is segmented as below:
- Product
- Ethanol
- Bio Diesel
- Geography
- APAC
- North America
- Europe
- South America
- MEA
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43406
Biofuels Market 2020–2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our biofuels market report covers the following areas:
- Biofuels Market Size
- Biofuels Market Trends
- Biofuels Market Industry Analysis
This study identifies increasing government support as one of the prime reasons driving the biofuels market growth during the next few years.
Biofuels Market 2020–2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the biofuels market, including some of the vendors such as Archer Daniels Midland Co., Bunge Ltd., Cargill Inc., DuPont de Nemours Inc., INEOS Group Holdings SA, Koch Industries Inc., Neste Corp., Renewable Energy Group Inc., Royal Dutch Shell Plc, and Wilmar International Ltd. Backed with competitive intelligence and benchmarking, our research reports on the biofuels market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
