Latin America Biofuels Market Size & Outlook, 2023-2030
Latin America biofuels market, 2018-2030 (US$M)
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Latin America biofuels market highlights
- The Latin America biofuels market generated a revenue of USD 17,889.6 million in 2023.
- The market is expected to grow at a CAGR of 9.3% from 2024 to 2030.
- In terms of segment, liquid 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.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 17,889.6 million |
| Market revenue in 2030 | USD 33,363.4 million |
| Growth rate | 9.3% (CAGR from 2023 to 2030) |
| Largest segment | Liquid biofuel |
| Fastest growing segment | Liquid Biofuel |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 18.0% of the global biofuels market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 43,944.0 million by 2030.
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Biofuels Market Scope
Biofuels Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America 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 83.39% in 2023. Horizon Databook has segmented the Latin America biofuels market based on solid biofuel, liquid biofuel, gaseous biofuel covering the revenue growth of each sub-segment from 2018 to 2030.
The key factors behind the considerable growth of biofuels market in Central & South America are increasing government initiatives for ensuring energy security and independence. The high dependence of the region on depleting fossil fuels has led governments of different countries of Central & South America to look for their alternatives.
Credit lines (RenovaBio) provided by Brazilian government for bioenergy, sugar, and ethanol production in Brazil have favored their production, along with the expansion of capacities of these sectors in the country over the past few years.
Imports of low-cost corn-based ethanol imported from the U.S. have raised concerns among various domestic ethanol producers in Brazil. This is expected to raise import duty for U.S.-based products in the country over the medium term.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America biofuels market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America biofuels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America biofuels market size, by country, 2018-2030 (US$M)
Latin America Biofuels Market Outlook Share, 2023 & 2030 (US$M)
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