Biofuels Statistics By Market Value, Production, Product Type, Consumption, Regions, Facts Challenges And Forecast
Ketaki Joshi
Updated · Nov 12, 2024
WHAT WE HAVE ON THIS PAGE
- Introduction
- Editor’s Choice
- Biofuels Key Facts
- Biofuel Market Value
- Biofuel Production Worldwide
- Production Of Biofuel By Product Type
- Projected Biofuel Consumption
- Biofuel Consumption Worldwide
- Biofuel Consumption By Region
- Annual Project Biofuel Production Growth By Regions
- Global Projected Production Growth Of Biofuels To Meet SDS
- Global Water Footprint Of Biofuel Production
- Biofuel Used In Road Transport
- Challenges And Forecasts for Biofuels
- Conclusion
Introduction
Biofuels Statistics: Biofuels have emerged as a significant force in the quest for clean energy sources and reduction of greenhouse gas emissions globally. They include biodiesel, ethanol, and other biomass-derived fuels, which are crucial in replacing fossil sources of energy in transport, industry, and other sectors.
This article focuses on the biofuels statistics to be presented in 2024. It deepens the analysis of production volume, market value, ecological influence and outlook for the years to come.
Editor’s Choice
- The biofuel industry is flourishing, and the largest contributor in terms of production and revenue is that of ethanol.
- According to Biofuels statistics, the ethanol production market in 2023 was valued at more than $80 billion, while biodiesel was estimated at $25 billion.
- Also, the online consultation is expected to reach $35.83 billion in the year 2028. Authorities are encouraging the use of biofuels in order to reduce the effects of global warming, in which civilization harnesses energy without fossil fuels.
- The transport sector is mainly serviced by the use of ethanol and biodiesel, with the introduction of biojet fuel into the aviation sector for the reduction of emissions.
- Going forward, the market is also being boosted by improvements in production technologies and supporting regimes.
- Biofuel statistics reveal that World biofuel production reached 960 kbd in 2023 compared with 12 kbd in 2000, indicating a steady growth. In terms of market size, the biofuel business is predicted to reach more than $200 billion by 2030.
- It is anticipated that bioethanol and biodiesel will be the most prevalent types of biofuels manufactured from carbohydrates and fats into liquids. In 2023, the ethanol fuel production rate is likely to rise to 149 million tons by the year 2030.
- Biofuels statistics indicate that the biofuel consumption forecast anticipates that more than twenty-four million tons of biofuels will be consumed every year by the year 2030, with the US aiming to occupy seventy-seven million metric tons.
- In 2023, the United States recorded a biofuel consumption of 72.12 million metric tons, ethanol being the main biofuel.
- The growth of biofuel production is anticipated to be very high in the Asian continent, particularly in China and India, with annual growth rates of 15.3% and 11.8%, respectively, from 2019 to 2025.
- Biofuel statistics show that to accomplish the sustainable development goals (SDGs), biofuel production in India must rise by more than 22% by 2030.
- Soybean-based biodiesel has been noted to require the most water in manufacturing, with more than 11000 litres of water per litre of biodiesel, while sugar beet bioethanol draws about 12000 litres of water per litre produced.
Biofuels Key Facts
- The biofuel market has grown considerably as a result of the worries regarding the continued reliance on fossil fuels.
- However, history records biofuels in the forms of ethanol and biodiesel in such a way that they have been produced with automobiles since the first half of the 19th century.
- Bioethanol is largely used as a blend with gasoline or as a substitute, whereas biodiesel deals with the use of oil in diesel fuel.
- At this time, worldwide biofuel consumption makes around 190 billion litres per annum, and the index grows at a constant ratio afterwards. Ethanol is the alcohol obtained from feedstocks which are equally rich in sugar or starch.
- The predominant source crops of ethanol vary with region and usually include maise, sugar beet, and wheat.
- The large producing countries have more than 1,100 fuel ethanol plants with total production capacity hovering around 160 billion litres.
- Ethanol is usually mixed with gasoline at levels between 5% and 25%, and such mixtures can be used in ordinary gasoline engines. Ethanol blends with higher percentages, like E85 (containing 85% (ethanol) and E100, require different engines to be used.
- Biodiesel, as opposed to diesel, is mostly made from soy and rapeseed oil, with a lesser amount made from waste materials such as old frying oils.
- Europe’s biodiesel market is dominated by the Jatropha plant, the main FAME biodiesel production region in Central and West Africa.
- A similar product, hydrotreated vegetable oil (HVO), also known as renewable diesel, was developed and marketed by the Finnish company Neste.
- In contrast to HVO, which is chemically compatible with regular diesel and allows for incorporation into existing supply chains, its take-up in diesel markets is less pronounced. Forecasts indicate that demand for biodiesel will continue to increase and that by the year 2030, the total worldwide consumption of biodiesel will be above 65 billion litres.
- However, this would represent still less than one-third of biofuel use. The biggest consumer of biofuels in the next few years is likely to remain the United States.
Biofuel Market Value
(Reference: statista.com)
- Among all biofuels-Growing Global Demand for Biofuels, Ethanol stands out as the leading biofuel by way of production market revenue and projections.
- Biofuels statistics state that the regional market for ethanol production in 2023 was valued at approximately 80 billion U.S. dollars compared with lesser annuities projected for over 25 billion dollars being set aside for biodiesel, and this is less than four years away.
- To mitigate the effects of Global Warming, Renewable Energy, including biofuels, is being promoted by various levels of governments around the world through various policy mechanisms and incentives.
- Energy produced from biofuels produced by the use of renewable organic resources is essential for the sustainable development of the energy system.
- The transport market of biofuels is dominated by liquid biofuels such as ethanol biodiesel, which are orchestrated with fossil fuels in transportation modes.
- Similarly, factors such as the growing adoption of biojet fuel in the aviation industry are also boosting market growth as airlines work towards emissions reduction.
- Moreover, the market is also growing due to the development of new production technologies including better raw materials and advanced biofuels.
- All these factors help in the growth of the market because of the favourable policies regarding the biofuels industry and the developments in the industry.
Biofuel Production Worldwide
(Reference: statista.com)
- Biofuels statistics reveal that by the year 2023, the globally produced biofuels were approximated to stand at 960 thousand barrels of oil equivalent per day, an increase that is far-fetched from the 12 thousand barrels produced per day in 2000.
- Most of this change has arisen from the policies put in place to promote the making and use of biofuels, mainly due to the need to improve energy supply, security and emissions reductions in the most important sectors.
- It is known that biofuels are less harmful to the environment than fossil fuels because they have fewer associated negative effects.
- Also, they take up waste materials that are otherwise not put to use. The biofuel market has been influenced by factors such as blending obligations, sustainability criteria, quality of fuels, and protectionism.
- By 2030, the global biofuel economy is likely to be more than two hundred billion U.S. dollars. The most widely available forms of biofuels are bioethanol and biodiesel.
- Bioethanol is derived from carbohydrate sources, such as cellulose biomass, with substrates such as coarse grain and sugarcane considered the dominant ones across regions, as opposed to biodiesel, which is fat and oil based with the primary source islands, vegetable oil.
- However, in countries like the USA and regions in Europe, feedstocks that do not come from agriculture are increasingly being utilised in the production of biodiesel.
Production Of Biofuel By Product Type
(Reference: statista.com)
- As per Biofuels statistics conducted in 2023, it is anticipated that by the year 2030, the production of fuel ethanol will increase to around 149 million tons, representing an increase of over 20 million tons in comparison to the output of the year 2022.
- It is anticipated that the majority of biodiesel and isopropanol produced worldwide will continue to be ethanol. Soybean biodiesel output will be about half that of ethanol.
Projected Biofuel Consumption
(Reference: statista.com)
- A 2024 Biofuels statistics estimate that, by 2030, annual biofuel use across the world is expected to be over 224 million tons.
- This implies that the market for biofuels, product-specific nature that includes ethanol and biodiesel, will grow significantly in the coming year.
- The U.S. is most likely to remain dominant in this regard, with a projected biofuel demand of 77 million metric tons, a significant portion of the overall demand.
- This underpins the increasing penetration of biofuels in the U.S. energy structure, especially in activities where biofuels are viewed as substitutes for fossils.
Biofuel Consumption Worldwide
(Reference: statista.com)
- Biofuel statistics forecast that worldwide biofuel use will hit 203.7 million tons by the year 2024, which is an increase of almost six million tons over the previous year.
- Furthermore, by 2030, yearly consumption of both ethanol and biodiesel is projected to be close to 224 million metric tons. The largest biofuel market is expected to remain in the United States.
Biofuel Consumption By Region
(Reference: statista.com)
- In terms of biofuels, the United States holds the record for being the highest user. In the year 2023, the total quantity of biofuels consumed in the country amounted to 72.12 million metric tonnes, with more than half of this quantity being ethanol.
- Ethanol is the most common type of biofuel in the United States, and it is mainly used in vehicles filled with gasoline.
- However, nowadays, many countries within the European Union have nova-injected and are ambitious to drive biodiesel, which is a biofuel in a liquid state that is relatively cheaper than kerosene.
- The consumption in the EU is higher in biodiesel incorporation than in ethanol, showing the market gaps and drivers for switching from traditional diesel engine fuels to biodiesel.
Annual Project Biofuel Production Growth By Regions
(Reference: statista.com)
- In the time frame from 2019 to 2025, it is projected that biofuel production in the Asian continent will rapidly expand, with both China and India increasing their production volumes on an annual basis by 15.3% and 11.8%, respectively.
- On the contrary, in the country of America, it is expected that the growth rate will be very low, with less than a 2% increase in biofuel production on a yearly basis within the specified period.
Global Projected Production Growth Of Biofuels To Meet SDS
(Reference: statista.com)
- To achieve the global energy and emission reductions forecast in the sustainable development scenario (SDS), biofuel production in the world will need to increase tremendously as well.
- For instance, biofuel production in India is predicted to increase by nearly 22% from the year 2019 to the year 2030 in order to meet the said SDS targets.
- This growth is important as it will enable India to play its role in global efforts to mitigate emissions and move towards clean energy.
Global Water Footprint Of Biofuel Production
(Reference: statista.com)
- Compared to other biofuels, the biodiesel production from soybeans has the highest water consumption.
- Producing one litre of biodiesel consumes more than eleven thousand litres of water, the highest of all types of biodiesel.
- Biofuels statistics reveal that one litre of bioethanol derived from sugar beet uses close to 1200 litres of water.
- To put it this way, the amount of water used in the production of one kilogram of beef is over 15400 litres, and therefore, it is higher than the kilograms consumed in biofuels.
- This emphasises the fact that different agricultural products have different water footprints both in biofuel and food production.
Biofuel Used In Road Transport
(Source: ifpenergiesnouvelles.com)
- Biofuels statistics show that in 2022, the consumption of energy resources in the road transport sector globally equalled a little over 2.16 billion tons of oil equivalent, which is a 3.4% growth rate with respect to the previous year.
- Despite the health crisis that caused a drop in fuel consumption of more than 10%, it has recovered back to the pre-COVID level of 2.17 Gtoe, which was recorded in 2019.
- Other fuels, like biofuels, LPG, NGV, electricity, etc., accounted for more than 2.7% of the growth. In the year 2022, these alternatives made up cumulatively 8.4% of the total filters consumed, i.e. 180 Mtoe, which is the highest on record.
- Almost half of the alternative fuels used, 94 Mtoe’s worth, were biofuels alone, creating a whopping 51% share of the total alternative fuels and 4.3% of total fuels consumed.
- Biofuel consumption saw a 7% decrease from 2019 to 2020 and rebounded by an increase of 3.2% between 2021 and 2022, thus bringing back consumption and market share levels to what existed in the year 2019.
Challenges And Forecasts for Biofuels
- Despite the fact that there is a growing interest in biofuels, they, too, have their problems, most of which have to do with land use and land food competition.
- The resources for growing biofuel crops may encroach onto the resources that are earmarked for food crops, which raises the issue of food availability and possible ecologic consequences.
- For this reason, developers have started focusing on advanced biofuels, which utilise systems of production that rely on waste and plant materials that are not consumed as food.
- According to Biofuels statistics, such development is more sustainable as these advanced biofuels are expected to expand by 12% annually in the next five years.
- The increasing industrial development of biofuels is responsible for the projection that the biofuel industry will be worth $280 billion in the year 2030.
- This is a result of the effectiveness of the focus on production cost reduction and production efficiency improvement through technological changes.
- Such modifications will lower the level of agricultural dependency on biofuel production, especially from food crops, thereby making biofuels more affordable than fossil fuels.
Conclusion
The importance of biofuels has increased significantly in the global energy transition efforts, both because of the financial implications and environmental considerations. In the year 2024, Biofuels statistics regarding production and market value will continue to rise, thanks to technological development, government policy, and concern for the environment.
However, the industry must overcome challenges concerning sustainability to remain relevant in this upward trend that does not compromise the growing appetite for renewable energy.
FAQ.
Which types of biofuels are significant, and how do they affect the market in 2024?
Biofuels consist mostly of ethanol, biodiesel, and second or third-generation biofuels. Ethanol is produced the most and generates the highest revenue, as ethanol worth over 80 billion dollars will be produced across the globe in the year 2023. In comparison, biodiesel was worth about twenty-five billion dollars.
What will the consumption of biofuels be in the world by 2030?
It is predicted that within a decade, the increment of global consumption of biofuels will exceed two hundred and 24 million metric tons yearly, the US being the dominant consumer with a total projected consumption of seventy-seven million metric tons.
How has biofuel production characterised the world from the past up to now?
For many years, biofuel production across the globe was close to 12000 barrels, with the figure increasing to around 960000 barrels daily in 2023. A variety of Factors favouring the adoption of these fuels, with the aim of replacing fossil fuels, cutting emissions and providing a stable energy supply account for this expansion.
How does biofuel production affect the ecosystem?
Even if biofuels are touted to be less dangerous than fossil fuels, the fact remains that some biofuels use quite a lot of water in their production processes. Producing one litre of biodiesel from soybeans, for example, takes a whopping 11,000 litres of water, while bioethanol production from sugar beets consumes approximately 1200 litres of water.
What regions have the highest possibilities of growing in biofuel production in regards to their increase?
Asia, and specifically countries like China or India as well, leads in biofuel production with annual growth rates of 15.3 % and 11.8 % for the years 2019 to 2025, respectively.
Ketaki Joshi
Ketaki Joshi is a professional medical writer with extensive experience in scientific research on illness, health, and healthcare. Her work includes creating feature articles for newsletters and websites, as well as research news stories for doctors and researchers. With a lifelong passion for reading, Ketaki transitioned from a career at a French multinational company to pursue writing professionally. Her dedication to the craft has culminated in the recent release of her first Amazon-published short story, "The Envelope That Changed Our Lives."
