ADVANCED BIOFUEL MARKET ANALYSIS

Regional Analysis

Global advanced biofuel market: Regional Insights

North America is the most dominant region in global advanced biofuel market in terms of revenue and was valued at US$ 23.79 billion in 2022, owing to increasing demand for cleaner burning transportation fuels. Various regulations such as California’s Low Carbon Fuel Standard and Renewable Fuel Standard are the key drivers for investment in advanced biofuel. The purpose of these regulations is to reduce emissions of GHG (greenhouse gases) and to implement low carbon fuel standard. Europe is the second largest region in global advanced biofuel market. In Europe, the advanced biofuel market is driven by high R&D&D (research & development & demonstration) activities in Europe indicating the potential growth of market for applications in marine, shipping, and air transport. Asia Pacific is the fastest growing region in terms of value in the global advanced biofuel market. Asia Pacific was valued at US$ 13.12 Billion in 2022. This is attributed to the increasing manufacturing industry and growing awareness about the usage of advanced biofuel in emerging economies such as India, China, and Indonesia. In Australia, the advanced biofuel sector was supported by the Australian Renewable Energy Agency (ARENA).

• North America: U.S, Canada, Mexico
• Europe: Germany, France, Italy, Spain, UK, Rest of Europe
• Asia Pacific: China, Japan, South Korea, India, Australia, Rest of Asia Pacific
• Middle East: GCC, Israel, Rest of Middle East
• Africa: North Africa, entral Africa, South Africa
• Latin America: Brazil, Mexico, Rest of Latin America