The global biofuels market was valued at USD 3.27 billion in 2024 and is expected to reach USD 5.62 billion by 2032
During the forecast period of 2025 to 2032 the market is likely to grow at a CAGR of 7.00%, primarily driven by increasing government mandates and policies promoting renewable energy
This growth is driven by the rising concerns over carbon emissions, and the growing demand for sustainable fuel alternatives in transportation and industrial sectors
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