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. 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.
Various factors are pushing the growth of the bioliquid heat and power generation market. These factors, in accordance to the Market Research Future (MRFR) report, include a high rate of recycling waste products, fall in carbon emissions, easy accessibility of feedstocks, improving energy security, growing emphasis on alternative energy to control environmental emissions and availability of technology for converting feedstocks into liquid biofuels. Additional factors pushing the market growth include technological advancements and growing need to use sustainable development measures. On the contrary, regulatory restrictions, especially on vegetable oils for bioliquid conversion and lack of uniform regulatory frameworks are factors that are likely to hamper the bioliquid heat and power generation market growth over the forecast period.
Market Segmentation
The Market Research Future report offers a wide segmental analysis of the bioliquid heat and power generation market on the basis of type and application.
Based on type, the bioliquid heat and power generation market is segmented into biodiesel and bioethanol. Of these, bioethanol will have the largest share in the market over the forecast period. This is owing to the availability of feedstocks, namely crop residues as well as industrial waste.
Based on application, the bioliquid heat and power generation market is segmented into heat generation and power generation. Of these, heat generation will dominate the market over the forecast period. This is owing to the easy availability of feedstocks for heat production and stringent regulatory frameworks that are followed in key regions, namely Europe and North America.
Regional Analysis
Based on the region, the Bioliquid Heat and Power Generation Market Share 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.
Key Players
Leading players profiled in the bioliquid heat and power generation market report include Cargill Inc., Archer Daniels Midland Company, Olleco, BTG, Kraton, REG, Neste, REG Power Management, MBP Group, Biox, Bunge, Ensyn Fuels, Betarenewables, Munzer Bioindustrie, Argent Energy, and Encontech, among others.
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