Bioliquid
Heat & Power Generation Market Scope
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. 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.
Bioliquids are available either with 100% bioliquid or
100% renewable content which can be mixed with gas oils or kerosene oil to make
bioliquid blends. Bioliquid fuels are burned in power stations for creating
heat that can be used for boiling water to make steam or warming houses. The
steam can be used for driving a turbine for generating electricity. Bioliquids
offer several key benefits over other renewable energy sources such as lessens
greenhouse gas emissions, decrease dependency on foreign oil, possess high
energy density and is a well-established technology that is being used for
years.
Market
Segmentation
The Bioliquid
Heat & Power Generation Market has been extensively studied,
considering the segments like type and application region.
Given the type segment, the market covers bioethanol
and biodiesel. Bioethanol is the leading segment in the global market, since it
offers various benefits compared to biodiesel. For example, bioethanol consists
of 35% oxygen and when oxygen is added to fuel, it leads to complete fuel
combustion, which helps reduce toxic tailpipe emissions. Additionally, ethanol can
be used instead of harmful gasoline component including benzene. In the United
States (US), almost all the gasoline that is sold comprises 10% ethanol, with
respect to volume. Taking into account all the technical features of bioethanol,
it is lower-priced compared to biodiesel and offers close to 93% more energy
per gallon, which elevates its demand in the market.
Application-wise, the market includes heat generation
and power generation.
Regional
Analysis
Asia Pacific (APAC), North America along Europe and
the rest of the world (RoW) are the main markets for Bioliquid Heat & Power
Generation highlighted in the MRFR report.
Europe was the leading market for Bioliquid Heat &
Power Generation in the year 2017. The massive demand for bioliquids in the
region is the result of the rising focus on the renewable energy sector, where bioliquid
plays an important role. The Europe market for bioliquid heat and power
generation is expected to maintain its position throughout the forecast period.
The region has amplified its focus on the renewable energy sector, with the top
countries identified as Germany, France and the UK. The rigid regulatory
framework with regard to bioliquids in Europe also induces market growth to a
great extent.
The developing countries in APAC such as India and
China offer a host of growth opportunities to the bioliquid heat and power
generation market, owing to substantial government initiatives promoting the
use of biofuels for renewable energy generation.
The bioliquid heat and generation market in North
America is driven by the high availability of feedstocks and the rising need to
reduce carbon emissions. Availability of advanced technologies that help convert
feedstocks to liquid biofuels can also stimulate the growth of the bioliquid
heat and power generation market in the region in the coming years.
Significant
Market Players
Some of the most significant players in the worldwide
market for Bioliquid Heat & Power Generation include Archer Daniels Midland
Company, and Cargill Inc., Encontech, Betarenewables, Bunge, Biox, MBP Group,
REG Power Management, REG, Kraton, BTG, Olleco, Argent Energy, Munzer
Bioindustrie, Ensyn Fuels, Neste, to mention a few.
Related Reports:
No comments:
Post a Comment