According to the research report titled ‘Global Advanced Biofuel Market - Analysis By Types (Advanced Diesel, Advanced Gasoline, Biodiesel, Biocrude, Others), Applications, Technology, Raw Materials, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2022-2027)’, available with MarketStudyReport, global advanced biofuel market was worth USD 41.23 million in 2021 and is anticipated to expand significantly during 2022-2027.

Global advanced biofuel market growth is creditable to widespread usage of product due to growing disposable income of individuals in densely populated nations as well as increasing improvements in biofuel sector.

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Furthermore, escalating demand for enhanced diesel and biodiesel, increasing penetration of product in energy generation and transportation, and stringent government regulations in various nations of the world are anticipated to augment the industry during the forecast timeframe.

Based on application ambit, the transportation segment held major revenue share in the recent past, owing to increasing concentration of product manufacturing companies, along with rising public transport production.

In terms of type, the advanced diesel segment of worldwide advanced biofuel industry is expected to grow at a faster rate over the forecast duration, due to rising demand for efficient and inexpensive advanced biofuel among customers around the world.

On the basis of raw materials, the lignocellulose segment is gaining traction, because of the easy availability of this raw material and it requires less care. It is also a very efficient type of raw material for advanced biofuel production.

Regionally, the market is spread across Americas (Canada, U.S., Brazil), Europe (France, U.K., Germany, Italy), and Asia Pacific (India, China, Indonesia). Among these, Americas market is poised to expand significantly in the coming years, owing to the dense presence of ODMs and OEMs across industries, as well as availability of various kinds of raw materials in the region.

Fujian Zhongde Energy Co. Ltd., Sundrop Fuels, Inc., Poet-DSM Advanced Biofuels LLC, Ineos Group Ltd., Clariant AG, Bangchak Corporation Public Company Limited, Gevo, Inc., Targray Technology International, Inc., Danisco A/S, and Blue Marble Energy Corporation are the major players influencing global advanced biofuel industry dynamics.