The global liquid biofuels market size was valued at USD 116.00 billion in 2019. The market is forecast to rise USD 219.97 billion by 2027 at a CAGR of 8.4%
The global liquid biofuels market size was valued at USD 116.00 billion in 2019. The market is forecast to rise USD 219.97 billion by 2027 at a CAGR of 8.4%
The global Liquid Biofuels market size stood at USD 116.00 billion in 2019 and is projected to reach USD 219.97 billion by 2027, exhibiting a CAGR of 8.4%.
rcFebruary 24, 2021 Liquid Biofuels Market
Liquid Biofuels market size stood at USD 116.00 billion in 2020 and is projected to reach USD 219.97 billion by 2028.
Biofuels are combustive fuels made from recently harvested plants. They work much like fossil fuels: they burn when ignited, releasing energy that can be converted to motion in a car, or heat for a house. Biofuel can be sourced from a number of different crops, as well as excess plant matter from other industries.
The liquid biofuel in greatest production is ethanol (ethyl alcohol), which is made by fermenting starch or sugar. In the United States ethanol biofuel is made primarily from corn (maize) grain, and it is typically blended with gasoline to produce a fuel that is 10 percent ethanol.