March 12, 2024

Advanced Biofuels Forum

As the world seeks to transition towards more sustainable and eco-friendly energy sources, the biofuels and bioenergy market has been experiencing phenomenal growth. According to recent market reports, the global biofuels market is expected to grow at a CAGR of 5.7% between 2021 and 2026, reaching a value of $218 billion by 2026. Similarly, the global bioenergy market is forecasted to grow at a CAGR of 4.9% during the same period, reaching $1.5 trillion by 2026. 

To reduce our use of carbon emissions and replacing fossil fuels to preserve our natural resources, it has led to the widespread use of biofuels. Biofuels are essential in the global effort to replace fossil fuels and reach the Paris Agreement goals of limiting global warming to well below 2 oC compared to pre-industrial levels. As businesses, industries, and societies begin a green recovery in a post-pandemic world, the demand for transportation fuels is expected to rise. Biofuels are an important and reliable climate-neutral part of the solution available today – and viable for tomorrow!