Global Lignocellulosic Feedstock-Based Biofuel Market 2020-2024 | Evolving Opportunities with Abengoa SA and China Petroleum & Chemical Corp. | Technavio
LONDON--(BUSINESS WIRE)--Jan 29, 2020--
The lignocellulosic feedstock-based biofuel market is poised to grow by USD 7.83 billion during 2020-2024, progressing at a CAGR of about 32% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled global lignocellulosic feedstock-based biofuel market 2020-2024. (Graphic: Business Wire)
Read the 139-page report with TOC on “Lignocellulosic Feedstock-Based Biofuel Market Analysis Report by Conversion Process (Biochemical and Thermochemical), and Geographic Segmentation (APAC, EMEA, North America and South America), and the Segment Forecasts, 2020-2024”.
The market is driven by the growing adoption of bioethanol as a transport fuel. In addition, the emergence of integrated waste management system is anticipated to boost the growth of the lignocellulosic feedstock-based biofuel market.
The overall GHG emissions have been increasing substantially over the years due to the high use of fossil-based fuels, such as gasoline and natural gas by the transportation sector. As a result, the transportation industry is gradually shifting to low-carbon alternatives such as biofuel to minimize GHG emissions. Bioethanol has emerged as one of the most significant biofuels in the transportation sector due to its ability to offer sustainable mobility and significantly reduce GHG emissions. Several countries, including Brazil, and China, are increasingly adopting bioethanol to curb rising air pollution concerns. New developments, such as incentives offered by governments to encourage the use of carbon capture and storage technologies, will further boost the production and adoption of bioethanol. Hence, rising adoption of bioethanol as a transport fuel will drive the demand for lignocellulosic feedstock-based biofuel.
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Major Five Lignocellulosic Feedstock-Based Biofuel Companies:
Abengoa SA has business operations under two segments, such as engineering and construction, and concession-type infrastructure. The company produces bioethanol by employing its in-house developed enzymatic hydrolysis technology. The company uses lignocellulosic biomass such as cereal straw as feedstock for the production of bioethanol.
China Petroleum & Chemical Corp.
China Petroleum & Chemical Corp. operates its business under various segments, including exploration and production, refining, marketing and distribution, chemicals, and corporate and others. The company produces ethanol-based biofuel for energy generation and transportation applications.
Clariant International Ltd.
Clariant International Ltd. has business operations under four segments, namely care chemicals, catalysis, natural resources, and plastics & coatings. The company offers solutions based on its technological expertise to produce cellulosic ethanol. The company employs sunliquid process for the conversion of lignocellulosic feedstocks such as agricultural residues into biofuels.
DuPont de Nemours Inc.
DuPont de Nemours Inc. operates its business through various segments, including electronics & imaging, nutrition & biosciences, safety & construction, and transportation & industrial. The company produces fuel-grade ethanol using feedstock such as corn stover, sugarcane straw and bagasse, switchgrass, sorghum, empty fruit bunch, and wheat straw.
Gevo Inc. has business operations under two segments: Gevo Development/Agri-Energy and Gevo. The company offers fermented fuel blendstock made from lignocellulosic feedstock such as rice straw, bagasse, and woodslash.
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Lignocellulosic Feedstock-Based Biofuel Conversion Process Outlook (Revenue, USD Billion, 2020-2024)
Lignocellulosic Feedstock-Based Biofuel Geographic Segmentation Outlook (Revenue, USD Billion, 2020-2024)
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PUB: 01/29/2020 10:30 AM/DISC: 01/29/2020 10:30 AM