carbon neutral fuels market trends Covid-19 Impact Analysis, Opportunities and Forecast to 2027

Market Overview

The global carbon neutral fuel market is expected to register a CAGR of over 5% to reach around USD 80 Billion by the end of 2027. When carbon-neutral synthetic fuels are used, they do not add to the amount of carbon dioxide in the atmosphere. These fuels have no effect on reducing or releasing carbon dioxide emissions into the atmosphere. Hydrogen cells, biodiesel, bioethanol, biobutanol, methanol, and algae are some of the most regularly utilised carbon-neutral fuels. The competitors in the worldwide carbon-neutral fuels market are focusing on capturing carbon dioxide in the atmosphere and combining it with hydrogen to create fuel.

Market Trends

Carbon dioxide trapped in the atmosphere is combined with hydrogen to make carbon-neutral fuel. During the review period, the rising automotive, marine, and aviation industries are projected to create a large increase in demand for carbon-neutral liquid fuels. Increasing environmental rules to limit carbon emissions around the world are driving global demand for carbon-neutral fuel cells. The negative effects of carbon dioxide emissions, such as global warming, ocean acidification, and carbon fertilisation, have boosted demand for carbon-neutral fuel cells. The increase in carbon dioxide gas emissions in the atmosphere, primarily owing to the combustion of fossil fuels such as coal, petroleum, and natural gas, is the primary cause driving global demand for carbon-neutral fuel.

Alternative fuels that are carbon-neutral are used in a variety of applications, including automobiles, ships, aircraft, trucks, trains, and turbines. The demand for carbon-neutral fuels is likely to be driven by environmental rules issued by the European Commission and the US Environmental Protection Agency to minimise carbon emissions caused by the transportation industry. Additionally, according to OPEC, oil and gas will continue to meet more than half of global energy demand by 2020, contributing significantly to market growth. The market is also being aided by the burgeoning automotive sector in developing countries, which is producing more lightweight and fuel-efficient vehicles.

However, market growth is projected to be limited throughout the study period due to the high cost of carbon-neutral liquid fuels and the growing preference for electric vehicles.

Competitive Dynamics

Carbon Engineering Ltd (Canada), POET, LLC (US), Cargill, Incorporated (US), Archer Daniels Midland Company (US), Koch Industries, Inc (US), The Andersons, Inc (US), Raízen (Brazil), Copersucar (Brazil), Abengoa (Spain), Wilmar International Limited (Singapore), Bunge North America, Inc (US), BIOX Corporation (Canada), and Renewable Energy Group, Inc (US).

Market Segmentation

The global Carbon-neutral Fuels Market trends has been divided into four categories: feedstock, type, application, and region.

Carbon dioxide, hydrogen, plant starches, animal fats, vegetable oil, and other feedstocks have been separated into the global market. Because market companies are increasingly focusing on the development of carbon-neutral synthetic fuels using air to fuel technology, the carbon dioxide category is expected to grow significantly.

Hydrogen cell, biodiesel, bioethanol, biobutanol, methanol, algae, and other carbon-neutral fuels were studied. Because hydrogen fuel cells have a higher energy density than liquid hydrogen, they were the fastest-growing group due to increased use in automobiles.

The global market has been divided into autos, ships, aircraft, trucks, trains, power generation, chemicals, and others based on application. In 2018, the vehicle segment held the biggest market share, and it is predicted to grow at a significant rate over the next few years.

Regional Overview

In 2018, North America accounted for the highest part of the worldwide carbon-neutral fuels market, with a considerable CAGR projected by 2025. The rising aerospace and defence industries in the United States is credited with the increase. The aerospace and defence business in the United States generated roughly USD 865 billion in revenue in 2017. Increased regulations imposed by the US Environmental Protection Agency to minimise carbon emissions caused by the transportation industry are also assisting the region's market growth.

Increased rules to reduce pollutants from the maritime and aviation industries are also predicted to boost the European market's growth. Annually, marine transportation emits roughly 940 million tonnes of CO2. As a result, with the expansion of the region's key end-use sectors, demand for carbon-neutral fuels is expected to rise significantly.

Due to the rise of major end-use sectors such as marine, automotive, and aerospace and defence, Asia-Pacific had the fastest expanding market in 2020. The rising automotive sector, particularly in India, South Korea, Thailand, and Malaysia, is likely to play a key role in the regional market's growth. The preference for hydrogen fuel cells in the transportation industry, which has a greater energy density than liquid hydrogen, is expected to boost regional market expansion, particularly in Australia and China.

Due to increased demand for carbon-neutral fuels to reduce emissions from the transportation sector, markets in Latin America, the Middle East, and Africa are likely to rise strongly.

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Ferric Chloride Market Trends Report 2021, Demand, Trends and Forecast till 2028

Market Analysis 

The global ferric chloride market is anticipated to grow at a 4.65% CAGR between 2021-2028, as per the recent Market Research Future (MRFR) report. Ferric chloride is an aqueous solution that is light brown to colorless and has a faint hydrochloric odor. It has an extensive range of applications, including metallurgy, electronics, chemical, and pharmaceutical for its solubility with various organic solvents along with its exothermic nature that helps to increase reaction rates. It is utilized as a catalyst in organic synthesis, to treat over-cropping of animal claws, a drying reagent in an anhydrous form in some reactions, and in energy storage systems. 

Numerous factors are adding to the growth of the global ferric chloride market. These factors, according to the latest Market Research Future report, include increasing awareness of consumers about the waterborne disease, especially typhoid and cholera, better performance characteristics, higher cost efficiency, demand for clean drinking water, and increasing pollution and water consumption levels. 

On the contrary, the acidic and corrosive nature of ferric chloride etching in specific water treatment plants coupled with strict regulations laid down by the government on companies at the time of its production as well as shipment, and the dispersion of ferric chloride into plastic container or glass are factors that may hamper the global ferric chloride market growth during the forecast period. 

Regional Analysis 

By region, the global ferric chloride market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Of these, the APAC region will remain the driving force in the market during the forecast period for its extensive use in the electronics and water treatment industry. Besides, the rising application of ferric chloride in the metal & metallurgy industry is also adding to the market growth. China is the key contributor in the region for its increasing demand in the etching of PCBs followed by India, Malaysia, Japan, and South Korea. 

The global ferric chloride market in Europe will have lucrative growth during the forecast period. Numerous factors are adding to the growth of the ferric chloride market in the region, such as high consumption potential, presence of key end use industries, booming portable water treatment and pharmaceuticals industry, and increasing use in pigment manufacturing. Germany, Belgium, Hungary, Italy, and France are the key contributors in this region. 

The global ferric chloride market in North America will have profitable growth during the forecast period. Numerous factors are adding to the growth of the ferric chloride market in the region such as rising application of ferric chloride in the waste-water treatment sector and pharmaceuticals, surging demand in industrial waste-water and sewage treatment, well-developed economy, increasing production capacities, and high consumption potential. The US is the chief contributor in this region. 

The global ferric chloride market in Latin America and the MEA will have stable growth during the forecast period. 

Key Players

Notable players profiled in the global ferric chloride market report include Saf Sulphur Company (Saudi Arabia), Feralco AB (France), Seqens Group (France), BASF SE (Germany), PVS Chemicals (US), BorsodChem (Hungary), Sukha Chemical Industries (India), Sidra Wassercheime GmbH (Germany), MALAY-SINO CHEMICAL INDUSTRIES SDN. BHD (Malaysia), Gulbrandsen (US), KEM ONE (France), Chemifloc LTD (Ireland), Tessenderlo Group (Belgium), and Kemira (Finland). Key players are incorporating specific strategies to create a niche in the market, such as partnerships, mergers, collaborations, and others. 

Market Segmentation

The Market Research Future report provides a complete segmental analysis of the global ferric chloride market based on end use industry, application, and grade. 

By grade, the global ferric chloride market is segmented into ferric chloride liquid, ferric chloride hexahydrate lumps, and anhydrous. 

By application, the global ferric chloride market trends is segmented into asphalt blowing, catalyst, pigment manufacturing, printed circuit boards, electronic etchants, potable water treatment, metal surface treatment, waste-water treatment, and others. 

By end use industry, the global ferric chloride market is segmented into municipal potable water treatment, municipal waste-water treatment, metals and metallurgy, electronics, chemicals, pharmaceuticals, and others.