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Biofuel Testing Market Status (2018-2022) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2023-2030

Format: PDF | Pages: 402 | Report ID: MRS1254


Report Description

The global Biofuel Testing market size was valued at USD 2,408.1 million in 2022, expanding at a CAGR of 7.2% from 2023-2030 to reach 3,900.8 Million USD in 2030.

Market Dynamics

Concern over the greenhouse gas emissions from fossil fuels and rising oil prices are two reasons why biofuels are becoming more popular. Biofuels give an alternative to fossil fuels and aid in supplying the fix for many environmental issues. The use of biofuels in engines and motors helps cut back on dangerous emissions. The market for biofuel testing services is expanding due to the advantages that biofuels offer and the strong demand that they have. There is a growing need for biofuel testing services in the refineries in the North American region as a result of the growing number of refineries in the U.S., where the production rate of biofuels is high. At addition, there is rising demand for biofuel testing services in refineries for sustainability testing, quality testing of fuel-grade ethanol, and another relevant testing. As a result, the market for biofuel testing services is anticipated to grow quickly and with a high CAR throughout the projected period because of the widespread presence of numerous refineries in North America and Latin America. Since the standardization of biofuels ultimately intends to reduce dependence on petroleum products, companies that provide testing services for biofuels are concentrating on stringent compliance with international quality standards. These are the main advantages of biofuel testing services that propel market expansion globally over the course of the forecast timeframe.

Testing services for biofuel require a lot of labor. Due to their lower energy density and higher cost of raw materials, biofuels are more expensive to use in the production of heat. These are the main elements limiting the expansion of the global market throughout the forecasted timeframe.

Regional Insights

It is anticipated that North America will account for the most significant market shares. The large output of biofuels in the US is one of the key drivers boosting the market for testing services for biofuels. This is the primary driver of market expansion globally during the anticipated timeframe. During the projected period, Europe is expected to have the second-largest market share. Europe holds a sizable portion of the market for biofuel testing services after North America because of the high level of biofuel production in the area. The market for biofuel testing services in Europe is anticipated to grow as a result.

Segment Dynamics

The Biofuel Testing market is fragmented into type and application segments. Based on the type, the ethanol segment is anticipated to dominate the market. By application, the automotive segment is projected to grow at the highest CAGR during the forecast period.

Competitive Insights

The Biofuel Testing market is highly competitive in nature with the presence of local & international players. Major players in the industry engage in strategic mergers & acquisitions, partnerships, and new product launches to remain competent in the market. For example, Rolls-Royce agreed to test Greencrude sustainable aviation fuel from Alder Fuels starting in October 2023. (SAF). With the help of already-existing bio and petroleum refinery infrastructure, Greencrude may be transformed into a drop-in fuel by employing sustainable biomass, such as regenerative grasses, forest residues, and agricultural waste products. Compared to straight jets, it results in a more than 80% reduction in greenhouse gas emissions.

The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Biofuel Testing by type, region, and application. In addition, this report introduces the market competition situation among the vendors, and the company profile, market price analysis, and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Intertek Group plc
  • BUREAU VERITAS
  • Eurofins Scientific
  • SGS SA
  • AmSpec, LLC
  • ALS Limited
  • Biofuel Systems Group Limited
  • Core Laboratories
  • Beta Analytic
  • SOCOTEC Group
  • AKSHAR ANALYTICAL LABORATORY & RESEARCH CENTRE
  • Chem-Tech Laboratories Private Limited
  • FOI Laboratories
  • Peak Petroleum Testing Services, Inc.
  • Fare Labs Private Limited

Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Ethanol
  • Biodiesel
  • Biogas
  • Green Diesel
  • Others

Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Automotive
  • Biofuel Companies
  • Mining
  • Refineries
  • Others

Region Coverage (Regional Consumption, Demand & Forecast by Countries etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)

Frequently Asked Questions

The global Biofuel Testing market size was valued at USD 2,408.1 million in 2022, expanding at a CAGR 7.2% from 2023-2030 to reach 3,900.8 Million USD in 2030.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global Biofuel Testing market size is expanding at a CAGR 7.2% from 2023-2030 to reach 3,900.8 Million USD in 2030.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
The Biofuel Testing market is highly competitive in nature with the presence of local & international players. Major players in the industry engage in strategic merger & acquisition, partnership, and new product launches to remain competent in the market. For example, Rolls-Royce agreed to test Greencrude sustainable aviation fuel from Alder Fuels starting in October 2023. (SAF). With the help of already-existing bio and petroleum refinery infrastructure, Greencrude may be transformed into a drop-in fuel by employing sustainable biomass, such as regenerative grasses, forest residues, and agricultural waste products. Compared to straight jet, it results in a more than 80% reduction in greenhouse gas emissions.

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