Market Overview:

 

India biofuels market consists of bioethanol and biodiesel. Bioethanol is mainly produced from sugarcane molasses and biodiesel is produced from non-edible oils such as Jatropha, Karanja etc. Major end-use application of biofuels in India includes transportation fuel blending with petrol and diesel. The Government of India has promoted domestic production and usage of biofuels to reduce import dependence on crude oil and to tackle environmental challenges.

 

Key Takeaways

 

The India Biofuels Market Size is expected to witness high growth, exhibiting a CAGR of 22% over the forecast period of 2023-2030, due to increasing focus on renewable energy sources and energy security concerns. The market size is projected to reach US$ 8.45 Bn by 2030 from US$ 2.56 Bn in 2023.