Market Size of Europe Advanced Biofuel Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Advanced Biofuel Market Analysis
Europe advanced biofuel market is expected to register a CAGR of more than 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
- Over the long term, the ease in the availability of raw materials and their use being non-food and wastes, along with governmental incentives supporting the development of technologies for producing advanced biofuels, are expected to drive the market during the forecast period.
- On the flip side, the high cost of production of advanced biofuels, even with all the associated benefits, is likely to restrain the market's growth.
- Nevertheless, countries such as Germany, the United Kingdom, the Netherlands, and Sweden are encouraging biodiesel blending to obtain pure biodiesel, which can be used as a fuel source in diesel engines. This will likely provide ample opportunities for the biofuel market in the future.
- Germany is expected to dominate the advanced biofuel market in Europe during the forecast period.
