Lignocellulosic Feedstock-based Biofuel Market Share

Geographically, the Lignocellulosic Feedstock-based Biofuel market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific industry is estimated to hold largest revenue share by 2036, owing to increasing awareness about the waste management system, and increasing demand for fuel-based vehicles in the region.

Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to a large number of fuel-based vehicles in the region. The US and Canada have already mandated the use of biofuel. The market in Europe is also anticipated to occupy a significant share in the lignocellulosic feedstock-based biofuel market on account of its policies and environmental norms that mandated the use of biofuels in vehicles, to lower the greenhouse gas emission rate. As per the analysis of the European Biomass Industry Association, bioethanol production capacity has increased in the past few years.