Bioliquid Heat and Power Generation Market Analysis
The global bioliquid heat and power generation market is predicted to have a significant growth at a 7.60% CAGR over the forecast period (2018-2023), reveals the latest Market Research Future (MRFR) report. The bioliquid as a technology is well established and can be used on demand, reacting quickly to changes in demand for power. Bioliquids have the capability to reduce dependency on foreign oil and reduces the green-house gas emissions.
The global Bioliquid Heat & Power Generation market is set to witness high growth owing to increasing demand for energy and need to reduce carbon emissions.
Bioliquids are fuels that are manufactured from renewable sources, namely rapeseed oil, cooking oil, animal fats or wheat that are grown and harvested specifically to make fuel.
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Europe continues to be the world’s largest biodiesel producer. According to European Biodiesel Board, the production capacity of biodiesel in Europe was approximately 21,119 thousand tonnes. The major bioenergy producing countries in Europe are Brazil, Finland, Denmark, Sweden, and Austria.
Bioliquids are the fuels made out from renewable sources such as cooking oil, rape seed, wheat, and animal fats grown and harvested especially for making fuel. Bioliquids are either available with 100% renewable content or 100% bioliquid can be mixed with mineral heating fuels including kerosene and gas oil. This is generally known as bioliquid blends. There are standards which are to be followed while making bioliquids. These standards include EN 14214 and bioliquids are to be produced under strict quality assurance systems in order to achieve consistent quality and properties of the fuel.
The key players of the global Bioliquid Heat & Power Generation Market are Encontech, Argent Energy, Munzer Bioindustrie, Betarenewables, Ensyn Fuels, Bunge, Biox, MBP Group, REG Power Management, Neste, REG, Kraton, BTG, Olleco, Archer Daniels Midland Company, and Cargill Inc., among others.
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The Bioliquid Heat & Power Generation Market has been segmented based on type into bioethanol and biodiesel. Bioethanol segment is leading the market owing to its various advantages over biodiesel.
For instance, bioethanol contains 35% oxygen and adding oxygen to fuel results in complete fuel combustion, thus reducing harmful tailpipe emissions. Moreover, ethanol also displaces the use of toxic gasoline component such as benzene. In the US, nearly all the gasoline is now sold, contains 10% ethanol by volume. Considering the technical features of bioethanol, bioethanol is much cheaper compared to biodiesel and provides approximately 93% more net energy per gallon.
Based on type, the bioliquid heat and power generation market is segmented into biodiesel and bioethanol.
Based on application, the bioliquid heat and power generation market is segmented into heat generation and power generation.
Based on the region, the bioliquid heat and power generation market report covers growth opportunities and latest trends across Europe, North America, Asia Pacific (APAC) and Rest of the World (RoW). Of these, Europe will spearhead the market over the forecast period. This is owing to the growing focus on renewable energy, of which bioliquid is a part. It is predicted to grow at a favorable CAGR. Countries such as France, the UK, and Germany are the key contributors in this region. Moreover, the strict regulatory framework concerning bioliquids is predicted to push the market growth in Europe in the coming years.
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