Saudi Arabia Biofuels Market Size & Outlook, 2023-2030
Saudi Arabia biofuels market, 2018-2030 (US$M)
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Saudi Arabia biofuels market highlights
- The Saudi Arabia biofuels market generated a revenue of USD 101.9 million in 2023 and is expected to reach USD 205.7 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 10.6% from 2024 to 2030.
- In terms of segment, solid 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 101.9 million |
| Market revenue in 2030 | USD 205.7 million |
| Growth rate | 10.6% (CAGR from 2023 to 2030) |
| Largest segment | Solid 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, Saudi Arabia accounted for 0.1% 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 Middle East & Africa, Saudi Arabia biofuels market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 205.7 million by 2030.
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Biofuels Market Scope
Biofuels Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia 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 57.7% in 2023. Horizon Databook has segmented the Saudi Arabia biofuels market based on solid biofuel, liquid biofuel, gaseous biofuel covering the revenue growth of each sub-segment from 2018 to 2030.
The availability of suitable feedstock for biofuel production is expected to drive the biofuels market in the country. The increasing investment in research and development along with the technological advancements to scrutinize innovative approaches for biofuel production is also likely to boost the biofuel market in the country.
For instance, in July 2022, The Saudi Arabian Refineries Company (SARCO) signed two non-binding memorandums of understanding (MoU) with the UK-based green technology firm Christ of Global Impact to investigate the development of renewable fuel projects in the Kingdom.
The first MoU intends to investigate the feasibility of investing in the construction of a refinery to manufacture biofuel (biodiesel-carbon-negative fuel) derived from algae (carbon-negative algae oil).
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Our clientele includes a mix of biofuels market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia biofuels market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia biofuels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia biofuels market size, by form, 2018-2030 (US$M)
Saudi Arabia Biofuels Market Outlook Share, 2023 & 2030 (US$M)
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