“The Europe Biofuels Market is anticipated to reach about US$ Mn by 2025, and anticipated to expand at a CAGR over seven years of forecast period 2019-2025” owing to increased application in transport and power generation.

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The Europe biofuels market size was accounted for US$ Mn in 2018 and anticipated to account for US$ Mn by 2025. Biodiesel used as replacements for transportation fuels like petroleum, diesel and jet fuel will create a demand for the growth of Europe biofuels market. However, factors such as exhausting fossil fuels, growing Europe population, and stringent environmental policies are stoking the growth of the market.

Europe biofuels market segmented on the basis of type, application and end user.

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Biodiesel Segment Expected to Dominate the Market

Based on type, the Europe biofuel market is segmented into biodiesel and bioethanol. Biodiesel segment is expected to dominate the market due to increasing environmental concerns and the need for energy independence. Biodiesel can be produced using various feedstocks and can be used in diesel vehicles without any modification to the engine.

UK, Accounts for Major Revenue Share for Europe Biofuels Market

Precision Business Insights (PBI), Europe biofuels market report analyses the market in different countries of Europe. Europe has attained self-sustainability in the biofuel market, especially for biodiesel and bioethanol. The region has managed to achieve large-scale production of these biofuels in the past, surpassing its consumption. Presently, the United Kingdom biofuel and biodiesel market dominates this region. Biofuel production in the UK has seen significant growth due to government support towards greener technology and less dependence on imports of oil and gas. Other significant markets in this region are Italy, France, Spain, and Germany.

Strategic Collaboration Play Vital Role in Europe Biofuels Market

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Market strategies such as collaboration play an important role in the development of the market. For instance, In February 2016, Renewable Energy Group Inc. (Biofuel producer in U.S) has signed an agreement with Sanimax Energy, which is a U.S based company for acquiring its 20 million gallon nameplate capacity biodiesel refinery.

Key players in the market Aceites Manuelita S.A, Abengoa Bioenergy, Bajaj Hindustan Ltd, Archer Daniels Midland Company, Beckons Industries Ltd, BlueFire Ethanol Fuels Inc, Imperium Renewables, Inc, Renewable Energy Group Inc, Bangchak Petroleum Public Company Ltd, Solazyme Inc, Edmonton, Cosan S.A. Industria E Comrcio.

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