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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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.
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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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