Date : June 2024
The global biofuels market size was valued at USD 123.98 billion in 2023 and it will hit around USD 243.37 billion by 2033, with a registered CAGR of 7.02% during the forecast period 2024 to 2033. North America biofuels market size accounted for USD 68.34 billion in 2023.
Here are top comapanies of biofuels market:
1. Renewable Energy Group, Inc.
Headquarter: United States
Year Of Inception: 2006
Website: https://www.regi.com/
Renewable Energy Group, Inc. is translating renewable resources into high-quality, cleaner fuels, driving the energy industry's shift to sustainability. REG is the world's largest producer of biodiesel and the largest producer of cleaner fuels in North America. Alternatives to petroleum diesel, REG solutions produce much-reduced carbon emissions. REG operates 13 biorefineries in the United States and Europe using an integrated procurement, distribution, and logistics network. REG produced 495 million gallons of cleaner fuel in 2019, resulting in a carbon reduction of about 4.2 million metric tonnes.
2. Neste
Headquarter: Finland
Year Of Inception: 1948
Website: https://www.neste.com/
Neste Corp. is a company that makes petroleum products and sells renewable diesel. Renewable Products, Oil Products, Marketing & Services, and Others are the segments through which it works. Renewable diesel, renewable jet fuels and solutions, renewable solvents, and raw materials for bioplastics are all produced, marketed, and sold by the Renewable Products segment. Diesel fuel, gasoline, aviation & marine fuels, light and heavy fuel oils, base oils, gasoline components, engine gasoline, solvents, liquid gases, and bitumens are all part of the Oil Products segment. The Marketing & Services segment sells petroleum products and associated services directly to end-users such as private motorists, industry, transport companies, farmers, and heating oil customers. The Others segment consists of engineering and technology solutions company Neste Jacobs, joint venture firm Nynas, and common corporate costs.
3. Diamond Green Diesel
Headquarter: United States
Year Of Inception: 2013
Website: https://www.diamondgreendiesel.com/
Diamond Green Diesel (DGD) is a joint venture between Valero Energy Corporation and Darling Ingredients Inc. (through a subsidiary). DGD now produces 290 million gallons per year, with plans to grow production to 690 million gallons per year on an adjacent location. The expansion is expected to be finished in 2021. Valero and Darling are pursuing expansion in the low-carbon renewable diesel market, and a new 470 million gallons per year renewable diesel plant near Valero's refinery in Port Arthur, Texas, has been permitted. Diamond Green Fuel's overall production capacity will be increased to roughly 1.2 billion gallons of renewable diesel by 2023.
DGD generates renewable diesel using low-carbon feedstock such as leftover cooking oil, inedible animal fats resulting from processing meat lipids, and fuel-grade corn oil. Darling is the largest collector and processor of spent cooking oil in North America, processing 10% of the world's inedible meat by-products. Valero is the world's leading producer of renewable fuels (ethanol and renewable diesel). Darling and Valero both contribute knowledge to the Diamond Green Diesel business in addition to this integrated supply chain. Darling has a lot of experience pretreating feedstock for subsequent processing, and Valero has a lot of experience converting pretreated feedstock to renewable diesel and marketing transportation fuels.
4. Wilmar International
Headquarter: Singapore
Year Of Inception: 1991
Website: https://www.wilmar-international.com/
Wilmar International Limited, headquartered in Singapore, was created in 1991 and is now Asia's premier agribusiness firm. Wilmar's strategy is based on an integrated agribusiness model that spans the entire agricultural commodity value chain, from palm oil and sugarcane cultivation and milling to the processing, branding, and distribution of a wide range of edible food products in the consumer, medium, and bulk packaging, animal feeds, and industrial agri-products like oleochemicals and biodiesel. It has more than 500 manufacturing facilities and a vast distribution network that reaches China, India, Indonesia, and more than 50 other nations and territories. Wilmar can extract profits at every step of the value chain thanks to its scale, integration, and logistical advantages, resulting in operational synergies and cost economies. Wilmar emphasiz es sustainability in its global operations, supply chain, and communities, backed by an international workforce of about 100,000 people.
5. Musim Mas
Headquarter: Singapore
Year Of Inception: 1932
Website: https://www.musimmas.com/
Musim Mas (Musim Mas Group), based in Singapore, is a global player in the palm oil industry, with operations in 13 countries across Asia-Pacific, Europe, North and South America. The company possesses one of the world's largest palm oil refinery networks and is a major player in the vegetable oil refining industry. It also produces consumer items in Indonesia, such as soap and cooking oils under the Sunco name. Musim Mas employs 37,000 people and has a vast logistical network of chemical and coastal tankers, barges, tugboats, and bulk installations in major ports in Indonesia and other strategic locations throughout the world.
Musim Mas was the first firm in Indonesia to receive RSPO certification, and its Executive Chairman served on the organization's initial executive board. At the end of 2014, the organiz ation announced a sustainability strategy, pledging to adhere to the ideals of no deforestation, respect for human rights, and social contribution to the lives of local people. Musim Mas is notable for being the first large Southeast Asian palm oil producer to join the Palm Oil Innovation Group (POIG), which aims to deliver innovative solutions to industry concerns. They are also participating in the Fire-Free Alliance program, which aims to collaborate with local communities to address the issue of fire and haze, which affects millions of people in the region every year. Musim Mas teamed up with the International Finance Corporation (IFC), a member of the World Bank Group, in 2015 to assist small farmers in Indonesia in improving their farming practices and addressing sustainability challenges related to oil palm small farmers' productivity and farming patterns.
6. PT Pertamina
Headquarter: Indonesia
Year Of Inception: 1957
Website: https://www.pertamina.com/
PT PERTAMINA is a Jakarta-based Indonesian state-owned oil and gas firm. PERTAMINA (founded in 1961) and Permina merged in August 1968 to form Permina (established 1957). After ExxonMobil's Mobil Cepu Ltd and US-based Chevron Pacific Indonesia, the company was the third-largest crude oil producer in Indonesia in 2020. PERTAMINA was included in the Fortune Global 500 list of companies for the first time in 2013, ranking 122 with revenues of $70.9 billion; it was also the first Indonesian firm on the list. PERTAMINA is the largest corporation in Indonesia, according to the Fortune list for 2020.
7. Cargill
Headquarter: United States
Year Of Inception: 1865
Website: https://www.cargill.com/
Cargill is a privately held American global food conglomerate with headquarters in Minnetonka, Minnesota, and a corporate headquarters in Wilmington, Delaware. The company manufactures and markets a wide range of products & services including agriculture, animal nutrition, beauty, bioindustrial, carbon solutions, foodservice, food & beverages, industrial, pharmaceutical, meat & poultry, transportation, and risk management. The company caters to clients located in 125 countries across the world.
8. Archer Daniels Midland Company
Headquarter: United States
Year Of Inception: 1902
Website: https://www.adm.com/
The Archer Daniels Midland Company, or ADM, is an American global food processing and commodities trading firm headquartered in Chicago, Illinois, that was formed in 1902. Cereal grains and oilseeds are processed into products utilized in the culinary, beverage, nutraceutical, industrial, and animal feed markets at the company's 270 plants and 420 crop procurement facilities around the world. Agricultural storage and transportation are also provided by the company. ADM's companies include the American River Transportation Company and ADM Trucking, Inc.
Ag Services & Oilseeds, Carbohydrate Solutions, and Nutrition are the three reportable business segments under which the Company's operations are organized, managed, and categorized. The nature of the products and services offered determines how each of these categories is arranged. The Ag Services and Oilseeds segment includes global activities related to the origination, merchandising, transportation, and storage of agricultural raw materials, and the crushing and further processing of oilseeds such as soybeans and soft seeds (cottonseed, sunflower seed, canola, rapeseed, and flaxseed) into vegetable oils and protein meals. Corn and wheat wet and dry milling, as well as other activities, are part of the Carbohydrate Solutions segment. The Carbohydrate Solutions division turns corn and wheat into sweeteners, corn and wheat starches, syrup, glucose, wheat flour, and dextrose, among other goods and components used in the food and beverage industry. Food, beverages, nutritional supplements, and feed and premix for livestock, aquaculture, and pet food are among the end markets served by the Nutrition segment.
9. POET, LLC
Headquarter: United States
Year Of Inception: 1986
Website: https://poet.com/
POET LLC is a biofuels company based in the United States that specializes in the production of bioethanol. The privately held company was founded in Sioux Falls, South Dakota, and was formerly known as Broin Companies. POET was named the largest ethanol producer in the United States by the Renewable Fuels Association in 2007, producing 1.1 billion US gallons (4,200,000 m3) of fuel per year. POET generates 1.8 billion gallons of ethanol per year at the moment.
In Indiana, Iowa, Michigan, Missouri, Ohio, Minnesota, and South Dakota, POET runs 27 ethanol plants. The US Department of Energy awarded the corporation an $80 million grant in 2007 to build a cellulosic ethanol manufacturing facility near Emmetsburg, Iowa. On September 3, 2014, the facility had its grand opening. Farmers in the area are anticipated to donate corncobs, leaves, and husks, which will be used to make 25 million gallons of ethanol each year.
10. Verbio SE
Headquarter: Germany
Year Of Inception: 2006
Website: https://www.verbio.de/
VERBIO Vereinigte BioEnergie AG is a biofuels manufacturer and supplier based in Zörbig, Saxony-Anhalt, Germany. The company manufactures biodiesel, ethanol fuel, and biogas on an industrial scale and has created its technologies, employing roughly 725 people across three locations. The company has production sites at Zörbig, Bitterfeld, Schwedt, and Pinnow. Furthermore, it has affiliates in India, the US, Canada, Hungary, and Poland.
Claus Sauter established a mill for oil-bearing plant components in 1995. The prior independent firms united in May 2006 to form the Aktiengesellschaft that exists today (AG). The company was listed on the koDAX on June 4, 2007.
