Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Biofuels Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Biofuels industry players.
The growing global emphasis on reducing greenhouse gas emissions serves as a major driver of the biofuels market. With the transportation sector being one of the largest contributors to carbon emissions, governments worldwide are adopting policies to transition toward cleaner energy sources. Biofuels, derived from renewable biological materials, provide a viable alternative to petroleum-based fuels, offering up to 80% lower carbon emissions. Initiatives like the Renewable Energy Directive (EU) and Renewable Fuel Standard (U.S.) mandate biofuel blending, stimulating demand. As nations strive to meet carbon neutrality targets, the adoption of biofuels continues to rise, driving sustained market expansion.
According to SkyQuest Technology “Global Biofuels Market” By Fuel Type (Bioethanol, Biodiesel) By Feedstock (Sugar-Based, Starch-Based), By Form, By Region - Industry Forecast 2025-2032,” global biofuels market is projected to grow at a CAGR of over 6.7% by 2032, on account of urgent need for automating quantified data. Technological advancements in biofuel production represent a key factor driving the market’s growth and diversification. Breakthroughs in enzyme engineering, feedstock processing, and waste-to-energy conversion have improved production efficiency while lowering overall costs.
|
Company |
Est. Year |
Headquarters |
Revenue |
Key Services |
|
Archer Daniels Midland Company |
1902 |
Chicago, Illinois |
USD 85.53 billion (2024) |
Biodiesel production, ethanol production, feedstock supply, renewable chemicals, oilseed processing, agricultural solutions |
|
Renewable Energy Group, Inc. |
2006 |
Ames, Iowa |
USD 3.63 billion (2024) |
Biodiesel production, renewable diesel, fuel blending, hydrogen fuel, renewable compressed natural gas, low-carbon fuel solutions |
|
Neste |
1948 |
Espoo, Uusimaa |
USD 22.92 billion (2024) |
Renewable diesel, sustainable aviation fuel (SAF), refining services, feedstock procurement, waste and residue processing, bio-based product solutions |
|
Diamond Green Diesel |
2013 |
San Antonio, Texas |
USD 2.65 billion (2024) |
Renewable diesel production, feedstock recycling, biodiesel blending, supply chain management, sustainability consulting, green fuel distribution |
|
Wilmar International |
1991 |
Singapore, Singapore |
USD 67.38 billion (2024) |
Biodiesel production, palm oil processing, oleochemicals, bio-based energy solutions, feedstock trading, supply chain logistics |
|
Musim Mas |
1932 |
Singapore, Singapore |
USD 7.63 billion (2024) |
Biodiesel production, sustainable palm oil supply, oleochemical products, renewable energy solutions, sustainability certification, feedstock sourcing |
|
PT Pertamina |
1957 |
Jakarta, DKI Jakarta |
USD 3.48 billion (2024) |
Biofuel production, sustainable aviation fuel (SAF), renewable energy R&D, hydrogen fuel development, fuel distribution, energy transition services |
|
Cargill |
1865 |
Minneapolis, Minnesota |
USD 160 billion (2024) |
Biomass-based diesel, renewable diesel, waste-based fuels, feedstock supply, supply chain management, sustainable agriculture solutions |
|
FutureFuel Corporation |
2005 |
Clarkton, Missouri |
USD 4.2 billion (2024) |
Biofuels production, performance chemicals, specialty chemical solutions, custom chemical manufacturing, feedstock sourcing, green energy products |
|
Plug Power |
1997 |
Latham, New York |
USD 1.4 billion (2024) |
Hydrogen fuel cells, fuel cell systems, material handling solutions, stationary power, green hydrogen production, renewable energy integration |
Archer Daniels Midland Company (ADM) is a global leader in agricultural processing and nutrition solutions, dedicated to transforming crops into products that enrich lives worldwide. Founded in 1902 and headquartered in Chicago, Illinois, ADM has grown into a multi-billion-dollar company with operations spanning over 270 plants and 420 crop procurement facilities. Its core offerings include oilseed processing, corn and wheat milling, ethanol production, animal feed, and bioenergy solutions. Recently, ADM has focused on expanding its sustainable and renewable product lines, driving innovation in biofuels and plant-based ingredients.
Renewable Energy Group, Inc. (REG) is a leading producer of renewable fuels, specializing in biodiesel and renewable diesel. Founded in 2006 and headquartered in Ames, Iowa, REG operates 12 biorefineries and a feedstock processing facility. The company focuses on converting renewable resources into high-quality, lower-carbon fuels that reduce greenhouse gas emissions. In 2022, REG was acquired by Chevron Corporation, expanding its capabilities in the renewable energy sector. With a commitment to sustainability, REG continues to innovate in the biofuels industry, contributing to a cleaner energy future.
Neste is a global leader in renewable products and sustainable energy solutions, committed to combating climate change and advancing the circular economy. Founded in 1948 and headquartered in Espoo, Finland, Neste has grown into a multi-billion-dollar company with a presence in over 14 countries. Its core offerings include renewable diesel, sustainable aviation fuel (SAF), and waste-to-value solutions. Recently, Neste has expanded its production capacity for renewable products and invested in innovative technologies to convert waste and residues into high-quality fuels, reinforcing its leadership in sustainable energy.
Diamond Green Diesel (DGD) is a leading producer of renewable diesel, committed to reducing greenhouse gas emissions and promoting sustainable energy solutions. Established in 2013 as a 50/50 joint venture between Darling Ingredients Inc. and Valero Energy Corporation, DGD operates state-of-the-art facilities in Norco, Louisiana, and Port Arthur, Texas. The company specializes in converting low-carbon feedstocks, such as used cooking oil, inedible animal fats, and fuel-grade corn oil, into high-quality renewable diesel. With a combined annual production capacity of approximately 1.2 billion gallons, DGD plays a pivotal role in advancing the biofuels industry.
Wilmar International is a leading agribusiness group based in Singapore, specializing in palm oil cultivation, edible oils refining, oilseeds crushing, and biodiesel production. Founded in 1991, the company operates over 1,000 manufacturing plants across 32 countries. Wilmar's biofuels division produces biodiesel certified under international standards such as EN14214 and ASTM D6751. The company is also involved in ethanol production in Australia, utilizing molasses as a renewable feedstock. Wilmar's commitment to sustainability is reflected in its compliance with global standards and its efforts to minimize environmental impact.
Musim Mas is a leading global producer of palm oil-based biodiesel, committed to delivering sustainable energy solutions. Founded in 1932 and headquartered in Singapore, the company operates nine biodiesel plants across Asia and Europe. Utilizing sustainably sourced palm oil, Musim Mas produces biodiesel through transesterification, resulting in methyl esters (FAME) and glycerine. Their biodiesel products meet various sustainability certifications and are suitable for blending with other biodiesels to enhance fuel properties. Recently, Musim Mas has focused on expanding its use of used cooking oil (UCO) as a feedstock, reflecting its commitment to circular economy principles.
PT Pertamina (Persero) is Indonesia's state-owned energy company, playing a pivotal role in the nation's energy sector. Established in 1957 and headquartered in Jakarta, Pertamina is involved in the exploration, production, refining, and marketing of oil and gas products. The company has been actively expanding its renewable energy portfolio, focusing on biofuels, geothermal energy, and sustainable aviation fuel (SAF). Pertamina's initiatives include the development of green refineries and partnerships to enhance the country's energy sustainability and reduce carbon emissions. With a commitment to innovation and environmental responsibility, Pertamina is steering Indonesia towards a more sustainable energy future.
Cargill is a global leader in food, agriculture, and bioenergy, committed to nourishing the world in a safe, responsible, and sustainable way. Founded in 1865 and headquartered in Minneapolis, Minnesota, Cargill operates in over 70 countries. In the biofuels sector, the company produces biodiesel and renewable diesel, utilizing feedstocks like tallow and used cooking oil. Notably, Cargill's advanced biodiesel facility in Ghent, Belgium, produces 35 million gallons annually, significantly reducing greenhouse gas emissions. The company also operates renewable diesel plants in the U.S., contributing to the decarbonization of transportation.
FutureFuel Corporation is a diversified chemical and biofuels manufacturer based in Batesville, Arkansas. Established in 2005, the company produces nearly 60 million gallons of biodiesel annually, primarily from feedstocks like vegetable oils and animal fats. In 2025, FutureFuel temporarily idled its biodiesel production due to regulatory uncertainties and shifting market dynamics. Despite this, the company remains committed to sustainable energy solutions and continues to explore opportunities in renewable fuels. FutureFuel's strategic focus includes expanding its specialty chemicals segment and adapting to evolving industry trends.
Plug Power Inc. is a leading provider of hydrogen fuel cell systems, dedicated to advancing clean energy solutions. Founded in 1997 and headquartered in Latham, New York, the company specializes in developing fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity. Plug Power's GenDrive system integrates fuel cells manufactured by both Plug Power and Ballard Power Systems, incorporating a hydrogen storage system that allows for quick recharging. The company has delivered over 69,000 fuel cell systems and operates more than 250 fueling stations globally.
the global biofuels market is poised for sustained growth, driven by increasing environmental concerns, government policies promoting low-carbon energy, and advancements in biofuel technologies. The transportation sector’s shift toward renewable fuels, coupled with initiatives like the Renewable Energy Directive and Renewable Fuel Standard, is accelerating adoption. Leading companies such as ADM, REG, Neste, and Diamond Green Diesel are leveraging innovations in feedstock processing, enzyme engineering, and waste-to-energy conversion to enhance efficiency and reduce costs. As the market expands, biofuels will play a critical role in achieving carbon neutrality and advancing a sustainable energy future.
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North America, led by the U.S., accounted for over 33% of global biofuel revenue in 2023. The market reached USD 52.3 billion in 2024, driven by federal policies like the EPA Renewable Fuel Standard and SAF tax incentives under the Inflation Reduction Act.
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