The pandemic has severely affected the automotive & transportation industry, and disrupted the supply chain, raw material supplies. The liquidity shortfall and the cash crisis have already affected the sales of the product. The declining demand for road transport will directly affect the production of biofuel. Due to the reducing international and local demand, numerous biofuel plants have reduced their output. Additionally, many companies are withdrawing their investments, and the government of several countries is cutting down the subsidies provided by them earlier, which are hampering the growth of the industry.
The global Biofuels market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures. The global Biofuels market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector.
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The global Biofuels market study covers the current COVID-19 scenario that has turned the global business sphere upside down. The coronavirus has resulted in a major economic downturn worldwide, while also adversely impacting the growth of this industrial sector. The pandemic has brought about drastic changes in market conditions. Therefore, the latest report elaborates on the rapidly changing market scenario and conducts preliminary, as well as the future assessment of COVID-19 impact on the market. Moreover, the document contains a broad analysis of prime aspects of the market, with expert opinions on the current market standing and historical data.
Key highlights of the Global Biofuels Market report:
- The latest report performs an in-depth study of the potential opportunities and risks associated with the global Biofuels market, alongside studying the recent innovations and major events.
- It offers a conclusive study of the future growth trajectory of the Biofuels market and throws light on various market drivers, challenges, and constraints.
- A detailed synopsis of the market includes the rapidly changing market dynamics and an accurate prediction of the current, historical, and forecast market size in terms of volume and value
- The intensely competitive atmosphere of the global Biofuels market detailed in the report stresses on the product offerings and key strategies adopted by the established market players to strengthen their foothold in the industry.
- Key participants include Archer Daniels Midland Company, Abengoa Bioenergy, Petrobras, Green Plains, Valero Energy Corporation, Bajaj Hindusthan Ltd, Renewable Energy Group, Inc., Royal Dutch Shell, POET, LLC, and Pacific Ethanol, Inc., among others.