U.S. Biofuels Market Size & Outlook, 2023-2030
U.S. biofuels market, 2018-2030 (US$M)
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U.S. biofuels market highlights
- The U.S. biofuels market generated a revenue of USD 31,932.4 million in 2023 and is expected to reach USD 68,293.1 million by 2030.
- The U.S. 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.
Biofuels market data book summary
| Market revenue in 2023 | USD 31,932.4 million |
| Market revenue in 2030 | USD 68,293.1 million |
| Growth rate | 11.5% (CAGR from 2023 to 2030) |
| Largest segment | Liquid 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, U.S. accounted for 32.1% 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 North America, U.S. biofuels market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 276.7 million by 2030.
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Biofuels Market Scope
Biofuels Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 49% in 2023. Horizon Databook has segmented the U.S. biofuels market based on solid biofuel, liquid biofuel, gaseous biofuel covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. is the primary revenue contributor to the North American biofuel market. The U.S. government has initiated several regulations to reduce dependency on conventional fuels and carbon emissions.
Significant factors influencing the growth of biofuels in U.S. includes favorable regulatory & political support, innovation support (for second & third generation biofuels), environmental support, customer support, geopolitical support, agricultural, and economic support.
Biofuels are mainly used in combination with fossil fuels. They are also used as supplements, the United States Army is the largest biodiesel consumer, most of the light vehicles on the road today in the United States can run on blends of up to 10% ethanol, and vehicle manufacturers already produce vehicles designed to run on much higher ethanol blends.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. biofuels market , including forecasts for subscribers. This country databook contains high-level insights into U.S. biofuels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. biofuels market size, by form, 2018-2030 (US$M)
U.S. Biofuels Market Outlook Share, 2023 & 2030 (US$M)
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