Biofuels Market By New Business Developments, Innovations, And Top Companies, 2030
Biofuels Market Overview The global Biofuels Market size is projected to reach USD 190.6 Billion, expressing a CAGR of 6.78% throughout the forecast period. Drivers and Restraints The global bio fuels market is projected to grow at a high rate over the review period due to the renewability of biodiesel. Increasing government support for biofuel development through programs, policies and regulations driving the growth of the market. Depletion of fossil fuels also leads to the requirement of renewable biofuels. Increasing the use of biofuels as vehicle fuel source across the globe also provide boost to the growth of the market. Growing usage of crude glycerin from biodiesel production will serve as an opportunity for the demand for biofuels, as crude glycerin can be used for several uses such as coal freeze protection, and as a dust suppressant. However, inadequate availability of all types of feedstocks such as algae, starch, and sugar would hamper market growth, ...