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. The COVID-19
Analysis of Bioliquid Heat and Power Generation Market Share is enduring an
exacting period with its robust growth coming to an abrupt halt in light of the
COVID-19 pandemic.
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.
Industry Highlights
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.
Key Players
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.
Industry Segmentation
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.
Regional Analysis
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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