China Biofuels Market Size & Outlook, 2023-2030
China biofuels market, 2018-2030 (US$M)
Related Markets
China biofuels market highlights
- The China biofuels market generated a revenue of USD 6,021.7 million in 2023 and is expected to reach USD 13,609.5 million by 2030.
- The China market is expected to grow at a CAGR of 12.4% from 2024 to 2030.
- In terms of segment, gaseous biofuel was the largest revenue generating form in 2023.
- Liquid 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 6,021.7 million |
| Market revenue in 2030 | USD 13,609.5 million |
| Growth rate | 12.4% (CAGR from 2023 to 2030) |
| Largest segment | Gaseous biofuel |
| Fastest growing segment | Liquid 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, China accounted for 6.1% 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 Asia Pacific, China biofuels market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,401.8 million by 2030.
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Biofuels Market Scope
Biofuels Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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.
Gaseous biofuel was the largest segment with a revenue share of 48.61% in 2023. Horizon Databook has segmented the China biofuels market based on solid biofuel, liquid biofuel, gaseous biofuel covering the revenue growth of each sub-segment from 2018 to 2030.
In September 2017, the Government of China launched a new nationwide ethanol E10 (10% ethanol blending) mandate that was to achieved by 2020. After the implementation of this mandate, a substantial increase in ethanol consumption in the country was witnessed.
However, as high corn prices and stagnant ethanol prices eroded biofuel profit margins in the country, the Government of China unofficially abandoned its goal in 2019 as corn is the most important feedstock in ethanol industry of the country, followed by rice, cassava, and wheat.
Limited opportunities offered by China to ethanol exporters based in other countries of the world provided growth opportunities for domestic manufacturers to enhance their investments in biodiesel and ethanol production over the long term.
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Our clientele includes a mix of biofuels market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the China biofuels market , including forecasts for subscribers. This country databook contains high-level insights into China biofuels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China biofuels market size, by form, 2018-2030 (US$M)
China Biofuels Market Outlook Share, 2023 & 2030 (US$M)
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