Global Waste to Bio-Fuel Market Size showed significant growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ XXXX over the forecast period. According to latest study conducted by our analysts and industry experts, global waste to bio-fuel market is expected to grow at a CAGR of XX.XX% during the forecast period, i.e. 2017-2025.
Bio-Fuel is a class of fuel produced mainly through biological processes rather than geological processes. Bio fuels can be derived directly from plant, municipal, and food waste among others. Bio fuels are mostly used as transportation fuel mainly because of its low emissions and to reduce the dependency on other fossil fuels. The growing government participation towards renewable sources is projected to be the major factor driving the growth of the global waste to Bio-Fuel market during the forecast years.
Global Waste to Bio-Fuel Market Opportunities Analysis, By 2017-2025
However, the lack of awareness about Waste to Bio-Fuel benefits and presence of potential substitutes such as gasoline and diesel are some of the major factors restraining the growth of the market. Furthermore, the production of Bio-Fuel from food waste is expected to be a major trend in the market during the review period. Food wastes consist of lipids, carbohydrates, phosphates, and amino acids among others which can easily be converted into bio fuels such as bio ethanol and bio diesel.
Waste to Bio Fuel: Biodiesel segment is expected to exhibit significant growth during the forecast period
The growing need for waste disposable coupled with the need for preservation of fossil fuels is considered to be some of the major factors positively contributing to the growth of the global Waste to Bio-Fuel market during the assessment period. Moreover, the presence of stringent regulations to curb the emission from vehicles and industries is also projected to surge the demand for the product. For instance, European Union has imposed regulations such as Euro 5 and Euro 6 to limit the emission from passenger as well as commercial vehicles. Moreover, European Union in September 2017, has also introduced a Technical committee of Motor Vehicles (TCMV) for improved mandatory car emission test to reduce vehicle emissions.
On the basis of product type, the bio diesel segment is projected generate the highest revenue during the forecast period. The rising need for transportation fuels coupled with the government interventions to reduce dependency on the crude imports is projected to positively affect the growth of the segment. In addition to this, the presence of strict emission regulations mainly in Europe and North America has led to the shift from conventional fuels to renewable sources which are projected to further propel the demand for biodiesel in the given period. For instance, The U.S. Environment Protection Agency (EPA) has laid down light-duty vehicle GHG emissions standards for model years 2017-2025 which is expected to positively affect the market growth during the review period.
Regional Share Analysis:
On the basis of region, the global Waste to Bio-Fuel Share can be segregated into North America, Europe, Asia pacific, Latin America, Middle East and Africa. Asia Pacific market of Waste to Bio-Fuel is projected to exhibit burgeoning growth during the given period. The rising automobile demand in the region has led to the to shift towards renewable energy to reduce the dependency on crude imports which is projected to substantially add to the growth of the Waste to Bio-Fuel market in this region. Moreover, the presence of the largest municipal waste generators such as China and India are further expected to make the Asia pacific market more competitive during the review period.
Global Waste to Bio-Fuel Market Opportunities Analysis, By Regional 2017-2025
European and North American Bio-Fuel market are anticipated to be dominant market during the forecast period. The increasing government initiative to shift towards environment friendly sources is one of the major factors attributing to this growth. According to U.S Energy Information Administration (EIA) U.S produced 150 gallons of bio diesel in July 2017 whereas the production increased to 163 gallons in July 2018. Moreover, according to European Commission, European Union aims to have 10 % of the transport fuel of every EU country come from renewable sources such as bio fuels.
Some of the major players operating in the global waste to bio-fuel market are Arizona Biodiesel, Amereco Biofuels Corp, Australian Renewable Fuels Limited, Sapphire Energy, Enerkem, Cargill, Incorporated, Archer Daniels Midland Company, and DuPont among others.
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Global waste to bio-fuel market size report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.
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