PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1606588
PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1606588
Disruptive Companies Driving Innovation in Utilizing CO2 to Develop Low-emission Alternative Fuels
Alternative fuels will play a major role in achieving global decarbonization pathways, with the market poised for extremely strong growth over the forecast period (2024-2030). This study focuses on dynamic and disruptive companies shaping the market across 3 main segments: biofuels, biogas, and eFuels. The industry sometimes refers to eFuels as synthetic fuels and sustainable aviation fuel (SAF) as bio-jet fuel. Alternative fuels use non-petroleum feedstocks, such as tallow oil, corn, soyabean oil, rapeseed oil, used cooking oil (UCO), fatty acid methyl esters, hydroprocessed esters and fatty acids (HEFAs), and hydrotreated vegetable oils (HVOs) in the case of biofuels; organic waste, animal waste, and wood in the case of biogas; and water, electricity, and biogenic or direct air capture CO2 in the case of eFuels. These fuels are substitutes for more carbon-intensive energy sources, such as diesel, gasoline, and jet fuel, in the transportation sector, contributing to the broader decarbonization and net-zero targets of COP28.
This study analyzes 8 dynamic firms that significantly impact the innovation agenda for alternative fuels in the oil and gas industry, as well as other areas such as transportation, energy, and industry.