Middle East & Africa Biofuels Market Size & Outlook
Middle East & Africa biofuels market, 2018-2030 (US$M)
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MEA biofuels market highlights
- The MEA biofuels market generated a revenue of USD 304.8 million in 2023.
- The market is expected to grow at a CAGR of 9.7% from 2024 to 2030.
- In terms of segment, solid 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.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 304.8 million |
| Market revenue in 2030 | USD 582.0 million |
| Growth rate | 9.7% (CAGR from 2023 to 2030) |
| Largest segment | Solid biofuel |
| Fastest growing segment | Solid 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, MEA region accounted for 0.3% 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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Middle East & Africa 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.
Solid biofuel was the largest segment with a revenue share of 42.39% in 2023. Horizon Databook has segmented the Middle East & Africa biofuels market based on solid biofuel, liquid biofuel, gaseous biofuel covering the revenue growth of each sub-segment from 2018 to 2030.
Presently, the contribution of the Middle East & Africa in terms of biofuel production is very low. The Middle East & Africa region in terms of revenue is projected to grow at a CAGR of 9.4% from 2022 to 2030; however, several pilot projects for the efficient production of biofuels are in progress, which is anticipated to fuel the growth of the biofuel market in the region.
For instance, in June 2022, Monjasa Shipping Group completed its first marine biofuel blending and supply in the UAE. The project was carried out in close collaboration with Uniper, an international energy company, and Neutral Fuels, a biofuel producer.
In 2021, the UAE became the first country in the Middle East to establish biodiesel standards. Emirates Authority for Standardization and Metrology (ESMA) is the federal agency in charge of establishing quality control standards.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa biofuels market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa biofuels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA biofuels market size, by country, 2018-2030 (US$M)
Middle East & Africa Biofuels Market Outlook Share, 2023 & 2030 (US$M)
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