“The Middle East and Africa 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 Middle East and Africa 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 Middle East and Africa biofuels market. However, factors such as exhausting fossil fuels, growing Middle East and Africa population, and stringent environmental policies are stoking the growth of the market.

Middle East and Africa biofuels market segmented on the basis of type, application and end user.

Biodiesel Segment Expected to Dominate the Market

Based on type, the Middle East and Africa 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.

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South Africa, Accounts for Major Revenue Share for Middle East and Africa Biofuels Market

Precision Business Insights (PBI), Middle East and Africa biofuels market report analyses the market in different countries of Middle East and Africa. South Africa biofuels market has lucrative growth attributed to driving factors like availability of feedstock, the government’s law to support the approval of bio-based fuel alternatives and multiple uses of biofuels are likely to spur the biofuels market.

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Strategic Collaboration Play Vital Role in Middle East and Africa Biofuels Market

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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