In 2020, global biofuel production levels reached 1,677 thousand barrels of oil equivalent per day, in stark comparison to the 187 thousand barrels of oil equivalent per day that was produced in 2000. Growth has largely been driven by policies that encourage the use and production of biofuels due to the perception that it could provide energy security and reduce greenhouse gas emissions in relevant sectors. Biofuels can be beneficial due to its limited environmental impacts in comparison to fossil fuels as well as its consumption of waste materials that would normally be discarded. Blending mandates, sustainability criteria, fuel quality standards, and import tariffs have impacted the biofuel market. The global biofuels market is expected to reach a market size of 153.8 billion U.S. dollars by 2024.
Production of biofuels
The most common biofuels are bioethanol and biodiesel. Bioethanol is synthesized from carbohydrates like cellulose biomass. Coarse grain and sugarcane are two of the most common ethanol feedstocks but this may vary regionally. Biodiesel is generated from fats and oils. Vegetable oil is one of the most common feedstocks used in biodiesel production, while non-agricultural feedstocks like waste are becoming more relevant in regions like the United States and Europe.
Biofuel production worldwide from 2000 to 2020*
(in 1,000 barrels of oil equivalent per day)
Characteristic
Production in thousand barrels of oil equivalent per day
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BP. (July 8, 2021). Biofuel production worldwide from 2000 to 2020* (in 1,000 barrels of oil equivalent per day) [Graph]. In Statista. Retrieved January 16, 2022, from https://www.statista.com/statistics/274163/global-biofuel-production-in-oil-equivalent/
BP. "Biofuel production worldwide from 2000 to 2020* (in 1,000 barrels of oil equivalent per day)." Chart. July 8, 2021. Statista. Accessed January 16, 2022. https://www.statista.com/statistics/274163/global-biofuel-production-in-oil-equivalent/
BP. (2021). Biofuel production worldwide from 2000 to 2020* (in 1,000 barrels of oil equivalent per day). Statista. Statista Inc.. Accessed: January 16, 2022. https://www.statista.com/statistics/274163/global-biofuel-production-in-oil-equivalent/
BP. "Biofuel Production Worldwide from 2000 to 2020* (in 1,000 Barrels of Oil Equivalent per Day)." Statista, Statista Inc., 8 Jul 2021, https://www.statista.com/statistics/274163/global-biofuel-production-in-oil-equivalent/
BP, Biofuel production worldwide from 2000 to 2020* (in 1,000 barrels of oil equivalent per day) Statista, https://www.statista.com/statistics/274163/global-biofuel-production-in-oil-equivalent/ (last visited January 16, 2022)
