Regional Analysis
Biofuels Market Regional Insights
- North America: The U.S. is one of the largest producers and consumers of biofuels in the world. Ethanol, derived mainly from corn, is the primary biofuel consumed in the region. The Renewable Fuel Standard (RFS) mandates the blending of biofuels with conventional fuels, driving the demand for ethanol and biodiesel. Canada is also a significant player in the biofuels market, with a focus on advanced biofuels and bioenergy technologies and this region holds a substantial percentage of the market share, accounting for approximately 35%.
- Europe: The European Union (EU) has been at the forefront of promoting biofuels as part of its efforts to reduce greenhouse gas emissions. The EU Renewable Energy Directive sets targets for the use of biofuels in transportation, stimulating the market growth. Countries like Germany, France, and Finland are actively investing in advanced biofuels, such as second-generation biofuels derived from agricultural residues and waste materials, and Europe holds around 25% of the market share.
- Asia Pacific: The Asia Pacific region is witnessing growing interest in biofuels due to the increasing energy demand, concerns over energy security, and environmental issues. Countries like China, India, Thailand, and Indonesia have been investing in biofuel production, primarily from non-food feedstocks like agricultural residues and waste oils. Japan and South Korea are also active in promoting the use of biofuels, particularly in the aviation sector and Asia Pacific accounts for approximately 20% of the market share.
Figure 1. Global Biofuels Market Share (%), by Region, 2023
| Geographies covered: |
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, Central Africa, and Rest of Middle East
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U.S.: 
U.K. : 
India :