North America Biofuels Market Size & Outlook, 2023-2030
North America biofuels market, 2018-2030 (US$M)
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North America biofuels market highlights
- The North America biofuels market generated a revenue of USD 33,151.7 million in 2023.
- The market is expected to grow at a CAGR of 11.5% 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, Mexico is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 33,151.7 million |
| Market revenue in 2030 | USD 70,946.5 million |
| Growth rate | 11.5% (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, North America region accounted for 33.3% 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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North 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 48.91% in 2023. Horizon Databook has segmented the North America biofuels market based on solid biofuel, liquid biofuel, gaseous biofuel covering the revenue growth of each sub-segment from 2018 to 2030.
The North American biofuels market is rapidly growing for bioethanol & biodiesel. Significant factors influencing the growth include favorable regulatory & political support, innovation support (for second & third generation biofuels), environmental support, customer support, geopolitical support, agricultural, and economic support.
Major factors supporting the growth of biofuel market in North America include high demand for green fuels, stringent environmental regulations, and high investment for the development of biofuel refineries. Significant drivers including technological advancement and awareness regarding the benefits of biofuel as a clean fuel is likely to boost the North American market.
In the U.S., 49 states have implemented ASTM D6751 as state law and now been mandated to enforce the ASTM D6751 biodiesel standard.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America biofuels market , including forecasts for subscribers. This continent databook contains high-level insights into North America biofuels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America biofuels market size, by country, 2018-2030 (US$M)
North America Biofuels Market Outlook Share, 2023 & 2030 (US$M)
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