Global Biofuel Additives market will reach 17900 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/9/17

The rapid increase in the global population raises the demand for food and energy for improved life. Therefore, the questions arising under the “Food vs. Fuel” debate are how much arable land is available, what should be the priority, and how should the land be used, among others. There is an increased debate on the increasing prices of food due to the crops utilized for the manufacturing of biofuels. For example, in 2012, Peter Brabeck-Letmathe, Chairman of Nestle, stated, “If no food was used for fuel, the prices would come down again-that is very clear.” In addition, Paul Conway, Chairman of Cargill, stated, "The bigger picture globally is increased urbanization, which leads to more food being consumed...there has also been an explosion in biofuel use and the financializing of the agricultural markets." The increasing number of such debates has decreased the adoption of biofuels to certain extent and the biofuel producers are conducting studies on the alternate sources of biofuels. Therefore, decreasing biofuel adoption has reduced the demand for biofuel additives across the globe.

The Food vs. Fuel debate has considerably decreased the growth of the biofuel additives market. However, with increasing advancement in second-generation biofuels, the impact of this driver is expected to decrease during the forecast period.

Biofuels are produced from the conventional feedstock or lignocellulose feedstock, which can be distinguished as first and second generation fuels. The consumption of biofuels has increased across the globe owing to its eco-friendly nature. However, there are several problems associated with their use such as high fuel foaming, injector deposits & corrosions, and low oxidation stability. Biofuel additives are specialty chemicals that are added to decrease such problems. Therefore, the market for biofuel additives is directly aligned with the production of biofuels.

The global Biofuel Additives market was 5760 million US$ in 2018 and is expected to 17900 million US$ by the end of 2025, growing at a CAGR of 15.2% between 2019 and 2025.

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