Canada Biofuels Market Size & Outlook, 2023-2030
Canada biofuels market, 2018-2030 (US$M)
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Canada biofuels market highlights
- The Canada biofuels market generated a revenue of USD 1,100.3 million in 2023 and is expected to reach USD 2,376.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 11.6% from 2024 to 2030.
- In terms of segment, liquid biofuel was the largest revenue generating form in 2023.
- Solid Biofuel is the most lucrative form segment registering the fastest growth during the forecast period.
Biofuels market data book summary
| Market revenue in 2023 | USD 1,100.3 million |
| Market revenue in 2030 | USD 2,376.7 million |
| Growth rate | 11.6% (CAGR from 2023 to 2030) |
| Largest segment | Liquid biofuel |
| Fastest growing segment | Solid Biofuel |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solid Biofuel, Liquid Biofuel, Gaseous Biofuel |
| Key market players worldwide | Air Liquide SA, Archer-Daniels Midland Co, Bunge Global SA, Green Plains Inc, Petroleo Brasileiro SA Petrobras ADR, Chevron Corp, International Flavors & Fragrances Inc, Shell PLC, Wilmar International Ltd |
Other key industry trends
- In terms of revenue, Canada accounted for 1.1% of the global biofuels market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. biofuels market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 276.7 million by 2030.
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Biofuels Market Scope
Biofuels Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada biofuels market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biofuels market will help companies and investors design strategic landscapes.
Liquid biofuel was the largest segment with a revenue share of 46.4% in 2023. Horizon Databook has segmented the Canada biofuels market based on solid biofuel, liquid biofuel, gaseous biofuel covering the revenue growth of each sub-segment from 2018 to 2030.
Canada has not been able to meet bioethanol production capacity for federal and provincial consumption and has been importing around 35 to 40% of its fuel consumption over the past 2 years.
Provincial and federal-level programs have initiated to support biofuels consumption across the country. In Canada, the federal regulations dictate over 5% of the renewable content in gasoline and 2% in diesel fuel.
Such provisions were to be replaced later in 2019 by the Canadian Clean Fuels Standard (CFS). The CFS has anticipated imposing various norms for gaseous, liquid, and solid fuels combusted for energy production coupled with the transportation sector.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada biofuels market , including forecasts for subscribers. This country databook contains high-level insights into Canada biofuels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada biofuels market size, by form, 2018-2030 (US$M)
Canada Biofuels Market Outlook Share, 2023 & 2030 (US$M)
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