A recent analysis by Reports and Data revealed that the global Green Gasoline market was valued at USD 253.2 Million in 2018 and is anticipated to reach USD 3.1 Billion by 2026, with a CAGR of 3.7 percent. Green gasoline, also referred to as bio-gasoline or renewable gasoline, is a fuel derived from biomass using various biological, thermal, and chemical processes. This fuel can be used in industrial and automotive applications such as spark-ignition engines and meets ASTM D4814 and EN 228 specifications in the U.S. and Europe, respectively. The advantage of green gasoline is that it can be used without engine modification and utilizes existing petroleum fuel pipelines and retail distribution systems.
Greenhouse gas emissions are increasing rapidly due to human activities, primarily from the use of non-renewable fossil fuels. Fossil fuels like gasoline and diesel, used in transportation and automotive applications, are the main culprits in terms of ozone depletion. Green gasoline is a chemical compound derived from plants, resembling standard gasoline but derived from renewable resources. Researchers worldwide are exploring various approaches to produce green gasoline, ranging from microbes to catalysts. Using catalysts, scientists have achieved recent breakthroughs, including the conversion of wood chips into high-octane fuel components and the conversion of sugar into gasoline, diesel, and jet fuel precursors.
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The key factors driving the growth of the Green Gasoline market are increasing government initiatives for research and development in the field of biofuels, the nascent stage of Electric Vehicles (EV), and a shift towards renewable fuels like green gasoline. However, the high cost of capital investment and limited production capacity by key players are the primary obstacles to market growth.
As of 2018, switchgrass was the leading feedstock segment of the global Green Gasoline market, with the highest CAGR during the forecast period. The sugar beet and sugar cane feedstock segment were valued in the second position in 2018 and are expected to maintain this position during the forecast period. The gasification production process dominated the market share in 2018 and is projected to maintain its lead with a significant CAGR. The transportation end-use segment is the fastest-growing, followed by the industrial end-use. The North America and Latin America regions were the most significant market share in 2018 and are expected to remain the dominant regional segment. The Asia-Pacific and Middle East Africa regions are expected to show the fastest growth over the coming years. Key participants in the Green Gasoline market include Virent Energy Systems Inc., Global Bioenergies, Neste Oyj, Cool Planet Energy Systems, Sundrop Fuels, Primus Green Energy, Terrabon, and CORE Biofuel. The market has been segmented by Reports and Data on the basis of feedstock, production process, end-use, and region.
Green Gasoline Market: Drive Factors
The global Green Gasoline market is expected to experience significant growth due to several driving factors. The increasing release of greenhouse gases into the atmosphere due to human activities, particularly the use of non-renewable fossil fuels, is driving the need for alternative fuels such as Green Gasoline. The favorable government initiatives for research and development activities in the field of biofuels, and the low dependence on Electric Vehicles (EV), are also driving market growth. However, the high cost of capital investment in production facilities required for Green Gasoline and restricted utilization of production capacity by key players are hindering the market's growth during the forecast period.
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