Market Research Future has published a Half-Cooked Research Report on the Global Carbon-Neutral Fuels Market.
The bioethanol segment is expected to register a CAGR of over 5% to reach around USD 80 Billion by the end of 2025. The global demand for carbon-neutral fuel cells is driven by increasing environmental regulations to reduce carbon emissions worldwide. Carbon neutral fuel is produced by combining carbon dioxide trapped in the atmosphere with hydrogen. The growing automotive, marine, and aviation industries is likely to drive the demand for carbon-neutral liquid fuels at a significant rate during the review period.
The global carbon-neutral fuels market has been segmented by feedstock, type, application, and region.
Based on feedstock, the global market has been divided into carbon dioxide, hydrogen, plant starches, animal fats, vegetable oil, and others. The plant starches segment accounted for the largest market share in 2018 and is expected to register significant CAGR during the review period. The carbon dioxide segment is likely to register significant growth on account of growing emphasis by the market players on the production of carbon-neutral synthetic fuels using air to fuel technology.
Based on type, the global market has been divided into hydrogen cells, biodiesel, bioethanol, biobutanol, methanol, algae, and others. The bioethanol segment accounted for the largest market share in 2018. The market growth can be attributed to the increasing use in the automotive, marine, and power industries. The hydrogen fuel cells was the fastest-growing segment on account of increasing use in automobiles as it possesses higher energy density as compared to liquid hydrogen.
By application, the global market has been classified into automobiles, ships, aircraft, trucks, trains, power generation, and others. The automobile segment accounted for the largest market share in 2018 and is expected to register a significant CAGR during the review period. The growth can be attributed to the increasing regulations to curb carbon emissions worldwide.
The key players in the market are POET, LLC (US), Cargill, Incorporated (US), Carbon Engineering Ltd (Canada), Abengoa (Spain), Koch Industries, Inc (US), BIOX Corporation (Canada), Renewable Energy Group, Inc (US), The Andersons, Inc (US), Raízen (Brazil), Copersucar (Brazil), Wilmar International Limited (Singapore), Archer Daniels Midland Company (US), and Bunge North America, Inc (US).
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Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa are the regions analyzed under the scope of the report. The North American market accounted for the largest share in 2018 owing to the increasing demand in major end-use industries such as automotive, aviation, and marine. Stringent maritime fuel regulations to reduce carbon emissions in the US, along with other environmental regulations to reduce emissions from the transportation sector, is supporting the regional market growth.
The market in Europe is expected to grow at a considerable rate on account of the expanding marine and aviation industry and increasing environment regulations by the European Commission.
The carbon-neutral alternative fuel market in Asia-Pacific is likely to witness healthy growth on account of the rapid growth of the automotive, aviation, and power generation industries in the developing countries. The expanding the power generation industry with a surge in energy demand from both industrial and domestic sector is likely to add to the market growth.
The Latin American and the Middle East and African markets are likely to grow at a healthy growth rate during the review period on account of expanding automotive industry in the regions.
Global Biofuel Market: https://www.marketresearchfuture.com/reports/bio-fuels-market-2933