Published Year: 2023
Hydrotreated Vegetable Oil Market - A Global and Regional Analysis: Focus on Application, End Users,
The global hydrotreated vegetable oil market is estimated to reach $158.09 billion in 2032...
Market Research Report
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Table of Contents
1.1 Trends: Current and Future Impact Assessment
1.1.1 Expanding the variety of feedstocks and technologies for biofuel production
1.1.2 Rising uptake of advanced biofuel technologies
1.1.3 Favorable government policies supporting biofuel production
1.2 Supply Chain Overview
1.2.1 Value chain Analysis
1.2.2 Market Map
1.2.3 Pricing Forecast
1.3 R&D Review
1.3.1 Patent Filing Trend by Country, by Company
1.4 Regulatory Landscape
1.5 Stakeholder Analysis
1.5.1 Use Case
1.5.2 End User and buying criteria
1.6 Impact analysis for key global events- covid19, Russia/Ukraine or Middle East crisis
1.7 Overview of biofuel production technologies
1.8 Market Dynamics Overview
1.8.1 Market Drivers
1.8.2 Market Restraints
1.8.3 Market Opportunities
2.1 Application Segmentation
2.2 Application Summary
2.3 Global Marine Biofuel Market (by End Users)
2.3.1 Passenger
2.3.2 Cargo
2.3.3 Military
2.3.3 Others
3.1 Product Segmentation
3.2 Product Summary
3.3 Global Marine Biofuel Market (by Fuel)
3.3.1 FAME
3.3.2 Hydrotreated Vegetable Oil
3.3.3 Bio-LNG
3.3.4 Others (Ethanol and Butanol, among others)
3.4 Global Marine Biofuel Market (by Feedstock)
3.4.1 Oil Crops
3.4.2 Biomass
3.4.3 Others
3.5 Global Marine Biofuel Market (by Form)
3.5.1 Liquid
3.5.2 Gas
4.1 Global Marine Biofuel Market (by Region)
Table: Global Marine Biofuel Market, By Region, (Kilo Tons), 2022-2033
Table: Global Marine Biofuel Market, By Region, ($ Million), 2022-2033
4.2 Regional Summary
4.3 North America
4.3.1 Regional Overview
4.3.2 Business Drivers
4.3.3 Business Challenges
4.3.4 Application
Table: North America Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: North America Marine Biofuel Market, By End Users ($ Million), 2022-2033
4.3.5 Product
Table: North America Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: North America Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: North America Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: North America Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: North America Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: North America Marine Biofuel Market, By Form ($ Million), 2022-2033
4.3.6 North America Marine Biofuel Market (by Country)
4.3.6.1 U.S.
Table: U.S. Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: U.S. Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: U.S. Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: U.S. Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: U.S. Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: U.S. Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: U.S. Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: U.S. Marine Biofuel Market, By Form ($ Million), 2022-2033
4.3.6.2 Canada
Table: Canada Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Canada Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: Canada Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Canada Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Canada Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Canada Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Canada Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Canada Marine Biofuel Market, By Form ($ Million), 2022-2033
4.3.6.3 Mexico
Table: Mexico Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Mexico Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: Mexico Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Mexico Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Mexico Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Mexico Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Mexico Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Mexico Marine Biofuel Market, By Form ($ Million), 2022-2033
4.4 Europe
4.4.1 Regional Overview
4.4.2 Business Drivers
4.4.3 Business Challenges
4.4.4 Application
Table: Europe Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Europe Marine Biofuel Market, By End Users ($ Million), 2022-2033
4.4.5 Product
Table: Europe Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Europe Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Europe Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Europe Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Europe Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Europe Marine Biofuel Market, By Form ($ Million), 2022-2033
4.4.6 Europe Marine Biofuel Market (by Country)
4.4.6.1 Germany
Table: Germany Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Germany Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: Germany Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Germany Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Germany Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Germany Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Germany Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Germany Marine Biofuel Market, By Form ($ Million), 2022-2033
4.4.6.2 France
Table: France Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: France Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: France Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: France Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: France Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: France Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: France Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: France Marine Biofuel Market, By Form ($ Million), 2022-2033
4.4.6.3 Italy
Table: Italy Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Italy Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: Italy Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Italy Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Italy Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Italy Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Italy Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Italy Marine Biofuel Market, By Form ($ Million), 2022-2033
4.4.6.4 Denmark
Table: Denmark Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Denmark Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: Denmark Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Denmark Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Denmark Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Denmark Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Denmark Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Denmark Marine Biofuel Market, By Form ($ Million), 2022-2033
4.4.6.5 U.K.
Table: U.K. Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: U.K. Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: U.K. Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: U.K. Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: U.K. Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: U.K. Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: U.K. Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: U.K. Marine Biofuel Market, By Form ($ Million), 2022-2033
4.4.6.6 Rest-of-Europe
Table: Rest-of-Europe Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Rest-of-Europe Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: Rest-of-Europe Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Rest-of-Europe Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Rest-of-Europe Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Rest-of-Europe Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Rest-of-Europe Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Rest-of-Europe Marine Biofuel Market, By Form ($ Million), 2022-2033
4.5 Asia-Pacific
4.5.1 Regional Overview
4.5.2 Business Drivers
4.5.3 Business Challenges
4.5.4 Application
Table: Asia-Pacific Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Asia-Pacific Marine Biofuel Market, By End Users ($ Million), 2022-2033
4.5.5 Product
Table: Asia-Pacific Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Asia-Pacific Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Asia-Pacific Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Asia-Pacific Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Asia-Pacific Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Asia-Pacific Marine Biofuel Market, By Form ($ Million), 2022-2033
4.5.6 Asia-Pacific Marine Biofuel Market (by Country)
4.5.6.1 China
Table: China Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: China Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: China Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: China Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: China Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: China Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: China Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: China Marine Biofuel Market, By Form ($ Million), 2022-2033
4.5.6.2 South Korea
Table: South Korea Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: South Korea Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: South Korea Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: South Korea Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: South Korea Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: South Korea Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: South Korea Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: South Korea Marine Biofuel Market, By Form ($ Million), 2022-2033
4.5.6.3 Japan
Table: Japan Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Japan Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: Japan Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Japan Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Japan Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Japan Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Japan Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Japan Marine Biofuel Market, By Form ($ Million), 2022-2033
4.5.6.4 Australia
Table: Australia Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Australia Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: Australia Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Australia Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Australia Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Australia Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Australia Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Australia Marine Biofuel Market, By Form ($ Million), 2022-2033
4.5.6.5 Rest-of-Asia-Pacific
Table: Rest-of-Asia-Pacific Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Rest-of-Asia-Pacific Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: Rest-of-Asia-Pacific Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Rest-of-Asia-Pacific Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Rest-of-Asia-Pacific Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Rest-of-Asia-Pacific Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Rest-of-Asia-Pacific Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Rest-of-Asia-Pacific Marine Biofuel Market, By Form ($ Million), 2022-2033
4.6 Rest-of-the-World
4.6.1 Regional Overview
4.6.2 Business Drivers
4.6.3 Business Challenges
4.6.4 Application
Table: Rest-of-the-World Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: Rest-of-the-World Marine Biofuel Market, By End Users ($ Million), 2022-2033
4.6.5 Product
Table: Rest-of-the-World Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: Rest-of-the-World Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: Rest-of-the-World Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: Rest-of-the-World Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: Rest-of-the-World Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: Rest-of-the-World Marine Biofuel Market, By Form ($ Million), 2022-2033
4.6.6 Rest-of-the-World Marine Biofuel Market (by Region)
4.6.6.1 The Middle East and Africa
Table: The Middle East and Africa Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: The Middle East and Africa Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: The Middle East and Africa Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: The Middle East and Africa Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: The Middle East and Africa Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: The Middle East and Africa Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: The Middle East and Africa Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: The Middle East and Africa Marine Biofuel Market, By Form ($ Million), 2022-2033
4.6.6.2 South America
Table: South America Marine Biofuel Market, By End Users (Kilo Tons), 2022-2033
Table: South America Marine Biofuel Market, By End Users ($ Million), 2022-2033
Table: South America Marine Biofuel Market, By Fuel (Kilo Tons), 2022-2033
Table: South America Marine Biofuel Market, By Fuel ($ Million), 2022-2033
Table: South America Marine Biofuel Market, By Feedstock (Kilo Tons), 2022-2033
Table: South America Marine Biofuel Market, By Feedstock ($ Million), 2022-2033
Table: South America Marine Biofuel Market, By Form (Kilo Tons), 2022-2033
Table: South America Marine Biofuel Market, By Form ($ Million), 2022-2033
5.1 Competitive Landscape
5.2 Company Profile
5.2.1 A.P. Moller - Maersk
5.2.1.1 Company Overview
5.2.1.2 Top Products / Product Portfolio
5.2.1.3 Top Competitors
5.2.1.4 Target Customers /End-Users
5.2.1.5 Key Personnel
5.2.1.6 Market Share
5.2.1.7 Analyst View
5.2.2 BP plc
5.2.2.1 Company Overview
5.2.2.2 Top Products / Product Portfolio
5.2.2.3 Top Competitors
5.2.2.4 Target Customers /End-Users
5.2.2.5 Key Personnel
5.2.2.6 Market Share
5.2.2.7 Analyst View
5.2.3 Cargill, Incorporated.
5.2.3.1 Company Overview
5.2.3.2 Top Products / Product Portfolio
5.2.3.3 Top Competitors
5.2.3.4 Target Customers /End-Users
5.2.3.5 Key Personnel
5.2.3.6 Market Share
5.2.3.7 Analyst View
5.2.4 Cepsa
5.2.4.1 Company Overview
5.2.4.2 Top Products / Product Portfolio
5.2.4.3 Top Competitors
5.2.4.4 Target Customers /End-Users
5.2.4.5 Key Personnel
5.2.4.6 Market Share
5.2.4.7 Analyst View
5.2.5 Chevron Corporation
5.2.5.1 Company Overview
5.2.5.2 Top Products / Product Portfolio
5.2.5.3 Top Competitors
5.2.5.4 Target Customers /End-Users
5.2.5.5 Key Personnel
5.2.5.6 Market Share
5.2.5.7 Analyst View
5.2.6 DS Dansuk
5.2.6.1 Company Overview
5.2.6.2 Top Products / Product Portfolio
5.2.6.3 Top Competitors
5.2.6.4 Target Customers /End-Users
5.2.6.5 Key Personnel
5.2.6.6 Market Share
5.2.6.7 Analyst View
5.2.7 Emami Group
5.2.7.1 Company Overview
5.2.7.2 Top Products / Product Portfolio
5.2.7.3 Top Competitors
5.2.7.4 Target Customers /End-Users
5.2.7.5 Key Personnel
5.2.7.6 Market Share
5.2.7.7 Analyst View
5.2.8 Enerkem
5.2.8.1 Company Overview
5.2.8.2 Top Products / Product Portfolio
5.2.8.3 Top Competitors
5.2.8.4 Target Customers /End-Users
5.2.8.5 Key Personnel
5.2.8.6 Market Share
5.2.8.7 Analyst View
5.2.9 Exxon Mobil Corporation
5.2.9.1 Company Overview
5.2.9.2 Top Products / Product Portfolio
5.2.9.3 Top Competitors
5.2.9.4 Target Customers /End-Users
5.2.9.5 Key Personnel
5.2.9.6 Market Share
5.2.9.7 Analyst View
5.2.10 Gevo
5.2.10.1 Company Overview
5.2.10.2 Top Products / Product Portfolio
5.2.10.3 Top Competitors
5.2.10.4 Target Customers /End-Users
5.2.10.5 Key Personnel
5.2.10.6 Market Share
5.2.10.7 Analyst View
5.2.11 GoodFuels
5.2.11.1 Company Overview
5.2.11.2 Top Products / Product Portfolio
5.2.11.3 Top Competitors
5.2.11.4 Target Customers /End-Users
5.2.11.5 Key Personnel
5.2.11.6 Market Share
5.2.11.7 Analyst View
5.2.12 Neste
5.2.12.1 Company Overview
5.2.12.2 Top Products / Product Portfolio
5.2.12.3 Top Competitors
5.2.12.4 Target Customers /End-Users
5.2.12.5 Key Personnel
5.2.12.6 Market Share
5.2.12.7 Analyst View
5.2.13 TotalEnergies
5.2.13.1 Company Overview
5.2.13.2 Top Products / Product Portfolio
5.2.13.3 Top Competitors
5.2.13.4 Target Customers /End-Users
5.2.13.5 Key Personnel
5.2.13.6 Market Share
5.2.13.7 Analyst View
5.2.14 Uniper SE
5.2.14.1 Company Overview
5.2.14.2 Top Products / Product Portfolio
5.2.14.3 Top Competitors
5.2.14.4 Target Customers /End-Users
5.2.14.5 Key Personnel
5.2.14.6 Market Share
5.2.14.7 Analyst View
5.2.15 UPM
5.2.15.1 Company Overview
5.2.15.2 Top Products / Product Portfolio
5.2.15.3 Top Competitors
5.2.15.4 Target Customers /End-Users
5.2.15.5 Key Personnel
5.2.15.6 Market Share
5.2.15.7 Analyst View
5.3 Other Key Market Participants
Growth Opportunities & Recommendations
Research Methodology
Marine Biofuel Market Market Report Coverage
|
Marine Biofuel Market |
||||
|
Base Year |
2022 |
Market Size in 2023 |
$3,998.8 Million |
|
|
Forecast Period |
2023-2033 |
Value Projection and Estimation by 2033 |
|
|
| CAGR During Forecast Period |
13.06% |
Number of Pages | 187 | |
Key Market Players and Competition Synopsis
The companies that are profiled in the marine biofuel market have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names in the market are:
• A.P. Moller - Maersk
• BP plc
• Cargill, Incorporated.
• Cepsa
• Chevron Corporation
• DS Dansuk
• Emami Group
• Enerkem
• Exxon Mobil Corporation
• Gevo
• GoodFuels
• Neste
• TotalEnergies
• Uniper SE
• UPM
Key Questions Answered in this Report
• What are the major trends, along with key drivers, challenges, and opportunities for players in the global marine biofuel market?
• How does the supply chain function in the marine biofuel market?
• What are the major patents filed by the companies active in the global marine biofuel market?
• Who are the prominent players catering to the demand for the global marine biofuel market, and what are the key offerings?
• How does the performance and application vary amongst marine biofuel and other marine fuels?
• Which end user and fuel segments are leading in terms of the global marine biofuel market, and which of them are expected to witness high demand growth during 2023-2033?
• Which regions and countries are leading in terms of consumption of the global marine biofuel market, and which of them are expected to witness high demand growth during 2023-2033?
Introduction to Marine Biofuel Market
The marine biofuel market was valued at $3,998.8 million in 2023 and is expected to reach $13,643.4 million by 2033 at a CAGR of 13.06% from 2023 to 2033. The marine biofuel market is poised for significant growth due to the increasing demand for bio-based sustainable fuels for clean marine transportation.
Market Introduction
Marine biofuels, also known as maritime green fuels, are bio-based fuels produced by processing various renewable raw materials and waste from the industrial and agri-food industries, as well as from farm and household waste and sewage sludge. Marine biofuels are created either by upgrading biogas and hydrogenation of biomass or by gasifying solid biomass.
The maritime sector plays a significant role in greenhouse gas emissions, prompting a growing need to minimize its environmental impact. Renewable marine biofuels are emerging as a greener substitute for traditional fossil fuels. With countries and global organizations setting ambitious carbon reduction targets, the maritime industry is increasingly turning to biofuels to align with these objectives and create a more sustainable and eco-friendly shipping sector. Stricter international regulations, such as those established by the International Maritime Organization (IMO), are driving the maritime industry to explore cleaner alternatives, and biofuels are emerging as a feasible solution to meet these rigorous requirements.
Moreover, the global emphasis on energy security and the fluctuating oil prices have spurred interest in exploring alternative and renewable energy sources, including marine biofuels. Biofuels offer a means of diversifying the maritime industry's energy sources, providing a more stable and potentially cost-effective solution in the long run. As advancements in technology and ongoing research efforts enhance the efficiency and scalability of marine biofuel production, their adoption is anticipated to rise, signaling a shift toward a more sustainable and resilient future for maritime transportation.
Industry Impact
Marine biofuels offer significant advantages, primarily their renewable nature that reduces carbon footprint, mitigates climate change, and lowers greenhouse gas emissions. Additionally, renewable diesel from HVO exhibits excellent cold-weather performance, making it suitable for regions with extreme temperatures. Similarly, sustainable aviation fuel (SAF) serves as a direct replacement for traditional jet fuel, ensuring compatibility with existing aircraft engines and infrastructure. This seamless integration enables airlines to adopt SAF without major fleet or refueling infrastructure modifications. Furthermore, hydrotreated vegetable oil is currently impacting end-user industries to a moderate to high degree. However, as it gains greater acceptance across automotive, aviation, maritime, industrial, and other sectors, its impact is expected to increase soon, positively influencing the marine biofuels market.
Market Segmentation:
Segmentation 1: by End User
• Passenger
• Cargo
• Military
• Others
Cargo Segment to Lead the Market (by End User)
The adoption of cleaner marine fuels in cargo transport, driven by stringent emission regulations such as the IMO 2020 sulfur cap, is increasingly focusing on biofuel alternatives. The growing availability of biodiesel and bio-LNG, coupled with advancements in biofuel technology, ensures compatibility with existing engines and aligns with corporate sustainability goals. Collaborative efforts among fuel suppliers, shipping companies, and regulatory bodies are pivotal in integrating biofuels into the maritime industry.
Segmentation 2: by Fuel
• FAME
• Hydrotreated Vegetable Oil
• Bio-LNG
• Others (Ethanol and Butanol, among others)
FAME Segment to Lead the Market (by Fuel)
FAME, meeting IMO sulfur emission regulations, is gaining traction in the maritime sector due to its renewable sourcing and wide availability. Its compatibility with existing diesel engines and infrastructure enables easy integration into marine operations. FAME's lower sulfur content and reduced greenhouse gas emissions align with environmental sustainability objectives. Growing industry awareness, government incentives, and investments in biofuel R&D are further fostering FAME's development and adoption in the marine biofuel market.
Segmentation 3: by Feedstock
• Oil Crops
• Biomass
• Others
Oil Crops Segment to Lead the Market (by Feedstock)
Oil crops such as soybean, rapeseed, palm, and sunflower offer versatility in biofuel production, reducing reliance on specific crops. Cultivated globally, they ensure a stable biofuel supply due to their high lipid content, yielding greater energy. Sustainable practices address environmental concerns. Economic feasibility and ongoing research in cultivation techniques and oil extraction make oil crops attractive feedstock for marine biofuels.
Segmentation 4: by Form
• Liquid
• Gas
Liquid Segment to Lead the Market (by Form)
Advancements in refining techniques enable the production of liquid biofuels, including hydrotreated vegetable oil, FAME, and bio-methanol, meeting stringent marine fuel standards. Regulatory mandates such as IMO 2020 and the pursuit of decarbonization drive the adoption of cleaner liquid biofuels in the maritime sector. Increased research and development investments enhance production efficiency and scalability. These biofuels are compatible with existing marine engines, simplifying adoption. Diverse feedstock sources ensure sustainability and reduce dependency. Collaborative efforts among governments, industry stakeholders, and players foster market growth and acceptance in the marine industry.
Segmentation 5: by Region
• North America
• Europe
• Asia-Pacific
• Rest-of-the-World
Europe Region to Lead the Market (by Region)
Europe stands as a prominent consumer of marine biofuels, encompassing hydrotreated vegetable oil, bio-LNG, and FAME, predominantly in countries such as Germany, France, Italy, and Denmark. The region's strict emission regulations, notably the EU's Emission Control Area (ECA), stimulate the adoption of low-emission fuels, propelling the use of marine biofuels. Collaborative partnerships involving governments, industries, and research institutions drive innovation, scale up production, and enhance biofuel availability. Growing environmental awareness aligns with the EU's sustainability objectives and circular economy initiatives, further boosting the demand for biofuels in the maritime sector.
Recent Developments in the Marine Biofuel Market
• In June 2023, Eni Sustainable Mobility, a subsidiary of Eni S.p.A., signed an agreement with Azimut Benetti S.p.A. to support the decarbonization of the yachting industry. Furthermore, in this agreement, Eni S.p.A. aimed to supply hydrotreated vegetable oil-based renewable fuels to the Azimut Benetti S.p.A.
• In June 2022, Chevron Renewable Energy Group, Inc. announced the acquisition of Renewable Energy Group, Inc., aiming to increase its low-carbon solution portfolio through bio and renewable fuels.
• In June 2022, Repsol started the supply of hydrotreated vegetable oil-based sustainable aviation fuel to lberia, an airline company in Spain, for commercial flights. Furthermore, the Iberia-operated Airbus A330-200 has a capacity of carrying 288 passengers and utilizes sustainable aviation fuel.
Demand – Drivers, Restraints, and Opportunities
Market Demand drivers
In 2021, China, the U.S., and India were the top carbon dioxide emitters, intensifying the global urgency for renewable fuel alternatives. The push toward zero carbon emissions by 2050, a goal shared by over 130 countries, highlights the importance of renewable fuels, particularly in marine applications such as hydrotreated vegetable oil. Despite commitments from nations such as China, which has a 40-year net-zero plan, actualizing these goals poses significant challenges. Governments are responding by testing and adopting renewable fuels and incentivizing the use of renewable raw materials. These efforts are expected to fuel the marine biofuel market from 2023 to 2032, contributing to the worldwide emission reduction targets.
Marine biofuels, including hydrotreated vegetable oil (HVO), FAME, and bio-LNG, offer a sustainable solution to fossil fuels by significantly reducing greenhouse gases. The development of marine biofuel facilities requires substantial investment, yet repurposing existing fossil fuel refineries presents a viable alternative. Manufacturers are actively engaging in development initiatives, including pilot projects and refinery conversions, to decrease carbon emissions. The International Energy Agency (IEA) noted a 10% increase in global biofuel capacity in 2021, with marine biofuels contributing approximately 11% in 2022. Companies such as Eni S.p.A., St1 Oy, TotalEnergies, Chevron Renewable Energy Group, Inc., and Petrobras are expanding their capacities, indicating a promising growth trajectory for the marine biofuel market and an accelerated shift in the market dynamics.
Market Challenges
Marine biofuel production, reliant on organic waste such as agricultural and forestry residues, faces challenges due to inconsistent availability and complex logistics. Regions with less developed waste management practices struggle with feedstock accessibility. The estimated global sustainable biomass is limited to 147 exajoules by 2030, with rising municipal solid waste expected to reach 2.2 billion metric tons by 2025, further straining feedstock availability. Transportation complexities in delivering these materials to biofuel facilities add to the production challenges. These factors limit the diversity and accessibility of essential feedstocks, impeding the scalability and growth of the marine biofuel market.
Marine biofuels, including hydrotreated vegetable oil (HVO), FAME, and bio-LNG, though chemically similar to fossil fuels, exhibit lower density and energy content. Renewable diesel, for instance, has a lower density (770-790 kg/m³) compared to fossil diesel (830-860 kg/m³), resulting in higher vapor pressure but cleaner combustion due to its purity. This purity, while reducing emissions, presents challenges in high-power engines due to lower energy density and higher vapor pressure, impacting performance and efficiency. However, advancements in manufacturing technology, catalysts, and purification processes are being explored to enhance the density and energy content of biofuels, potentially bridging the performance gap with fossil fuels for broader applications.
Market Opportunities:
Advancements in biofuel production technologies, including enhanced catalysts and refining techniques, have increased the efficiency, sustainability, and competitiveness of marine biofuels such as hydrotreated vegetable oil, FAME, and bio-LNG. These biofuels are gaining traction as versatile alternatives to conventional fossil fuels. Key innovations, such as Neste's NEXBTL and Eni S.p.A.'s Ecofining technology, have improved HVO production quality. Major players such as TotalEnergies are investing in refinery upgrades to boost marine biofuel production. With rapid capacity expansions projected from 2023 to 2033, the marine biofuel market is set to offer substantial opportunities, driving a sustainable transformation in the maritime sector.
The International Maritime Organization (IMO) aims for a 50% reduction in shipping greenhouse gas emissions by 2050 compared to 2008, promoting marine biofuels such as hydrotreated vegetable oil, FAME, and bio-LNG as viable alternatives. This aligns with the IMO's emission reduction goals and is supported by safety guidelines under the IGF Code. Shipping companies, including CMA CGM, are increasingly adopting these sustainable fuels. Port initiatives in Amsterdam, Rotterdam, Oslo, and Los Angeles, focusing on biofuel infrastructure and vessel conversions, further signal a shift toward greener maritime practices. The expansion of biofuel infrastructure at ports indicates a growing momentum toward widespread industry adoption, contributing to a more sustainable maritime sector.
Analyst View
According to Debraj Chakraborty, Principal Analyst, BIS Research, “The global marine biofuel market has significant growth potential. This growth is driven by the maritime industry's commitment to reducing greenhouse gas emissions and strict environmental regulations. The International Maritime Organization's ambitious targets are spurring innovation in sustainable fuels such as HVO, FAME, and bio-LNG. Advancements in bio-refining and catalyst development are improving efficiency. Major shipping companies and ports are investing in biofuel projects and infrastructure. Challenges include limited production capacity and high initial costs, but the market is expected to grow robustly in the next decade to meet the demand for cleaner maritime fuels.”
Marine Biofuel Market - A Global and Regional Analysis, 2023-2033
Some Faq's
Frequently Asked Questions
Marine biofuels, also known as maritime green fuels, are bio-based fuels produced by processing various renewable raw materials and waste from the industrial and agri-food industries, as well as from farm and household waste and sewage sludge. Marine biofuels are created either by upgrading biogas and hydrogenation of biomass or by gasifying solid biomass.
The marine biofuel market is experiencing key trends, including diversification of feedstocks and production methods, growing adoption of advanced biofuel technologies, and supportive government policies that promote biofuel production, all contributing to its significant growth.
Existing market players in the global marine biofuel market are implementing various strategies to strengthen their position. These include investing in research and development to enhance biofuel production efficiency, forming partnerships with major shipping companies to expand their customer base, and focusing on sustainable practices to align with environmental regulations, ensuring a competitive edge in the industry.
A new company entering the global marine biofuel market can gain a competitive advantage by focusing on innovation in biofuel production processes to improve cost-effectiveness and sustainability. Establishing strategic partnerships with shipping companies and investing in research to expand the range of biofuel feedstocks and technologies can also help differentiate the company in a rapidly evolving industry.
The following can be termed as some of the USPs of the report:
• Extensive competitive benchmarking of 15 key players to offer a holistic view of the global marine biofuel market landscape
• Market segregation based on form, feedstock type, fuel type, and end user
• Comparison between marine biofuel and other sustainable fuels
• Analysis of future raw materials for marine biofuels
• Supply and demand analysis for marine biofuels
• Production capacity analysis
• Investment landscape, including product adoption scenario and patent analysis
This report on the global marine biofuel market is valuable for a range of stakeholders, including maritime industry participants, biofuel manufacturers, investors, policymakers, and environmental organizations.
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Published Year: 2023
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