The Global Bio-fuel Market was valued at USD 150.1 Billion in 2024 and is projected to reach USD 253.8 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period (2024–2032). This growth is being driven by stringent environmental regulations, government incentives for renewable energy, and the accelerating adoption of sustainable alternatives to fossil fuels across transportation, power generation, and industrial sectors.

As the energy sector transforms toward low-emission operations and sustainable growth, the spotlight falls on the key biofuel producers who are driving innovation, efficiency, and cleaner energy pathways. In this blog, we profile the Top 10 Companies in the Biofuel Industry—a mix of agribusiness giants, energy majors, and advanced biofuel pioneers shaping the future of global renewable fuels.

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🔟 10. Shell

Headquarters: The Hague, Netherlands
Key Offering: Biodiesel, Renewable Diesel, Sustainable Aviation Fuel (SAF)

Shell is a global energy major with a growing presence in biofuels, leveraging its extensive refining and distribution network to supply renewable fuels worldwide. The company produces biodiesel from vegetable oils and waste, serving transportation and industrial applications, while addressing feedstock volatility through diversified sourcing strategies.

Sustainability Initiatives:

• Investments in waste-to-fuel technologies to minimize environmental impact
• Partnerships with airlines for SAF supply, targeting 10% blending by 2030
• Net-zero emissions goal across operations by 2050, including biofuel integration

Download FREE Sample Report:
Global and Regional Bio-fuelMarket – View in Detailed Research Report

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9️⃣ 9. Petrobras

Headquarters: Rio de Janeiro, Brazil
Key Offering: Sugarcane Ethanol, Biodiesel, Advanced Biofuels

Petrobras, Brazil’s state-owned oil giant, leads in biofuel production through its $2.3 billion renewable fuels program, capitalizing on abundant sugarcane resources to produce ethanol for domestic blending up to 27% in gasoline, supporting energy independence and emission reductions.

Sustainability Initiatives:

• $2.3 billion investment in renewable fuels to boost production capacity
• Carbon credit system under RenovaBio to promote sustainable practices
• Research into cellulosic ethanol for 85-90% GHG reductions

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8️⃣ 8. Cosan

Headquarters: São Paulo, Brazil
Key Offering: Ethanol, Sugarcane-based Biofuels, Biogas

Cosan is a leading Brazilian energy company specializing in sugarcane-derived biofuels, operating one of the largest ethanol production networks and supplying fuels for over 80% of flexible-fuel vehicles in Brazil, while diversifying into biogas to address price volatility.

Sustainability Initiatives:

• Expansion of integrated biorefineries for waste-to-energy solutions
• Commitment to circular economy models reducing waste in production
• Targets for increasing biofuel output to support national blending goals

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7️⃣ 7. Jilin Fuel Ethanol

Headquarters: Jilin, China
Key Offering: Corn-based Ethanol, Biodiesel

Jilin Fuel Ethanol is a key player in China’s biofuel sector, producing corn-based ethanol to meet domestic mandates for renewable fuel blending, with large-scale facilities supporting transportation and industrial use amid rising energy security needs in Asia-Pacific.

Sustainability Initiatives:

• Focus on domestic mandates compliance for sustainable fuel supply
• R&D in second-generation ethanol from non-food sources
• Efforts to lower production costs aligning with global trends

Download FREE Sample Report:
Global and Regional Bio-fuelMarket – View in Detailed Research Report

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6️⃣ 6. Henan Tianguan Enterprise Group

Headquarters: Nanyang, China
Key Offering: Ethanol, Biodiesel from Agricultural Waste

Henan Tianguan Enterprise Group is a prominent Chinese producer focusing on ethanol and biodiesel from corn and waste biomass, benefiting from China’s renewable energy push and partnering with logistics firms to enhance distribution for transportation fuels.

Sustainability Initiatives:

• Development of waste-based biofuels to reduce environmental footprint
• Collaborations for technology transfer in advanced production
• Contribution to China’s carbon neutrality goals by 2060

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5️⃣ 5. Neste Corporation

Headquarters: Espoo, Finland
Key Offering: Renewable Diesel, Neste MY Sustainable Aviation Fuel™, Biodiesel

Neste is the global market leader in advanced biofuels, with renewable diesel production at 3.2 million tons annually and a strong focus on SAF, supplying drop-in fuels compatible with existing infrastructure for aviation, road transport, and marine sectors.

Sustainability Initiatives:

• Annual SAF output supporting over 10% jet fuel share goal by 2032
• Expansion to 2 million tons renewable diesel by mid-decade
• Certifications ensuring full traceability and low carbon intensity

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4️⃣ 4. INEOS Enterprises

Headquarters: London, United Kingdom
Key Offering: Bio-based Ethanol, Advanced Biofuels

INEOS Enterprises, part of the INEOS group, has invested €1 billion in bio-based feedstocks, establishing itself as a European leader in sustainable fuels and focusing on second-generation processes using non-food biomass for industrial and transportation applications.

Sustainability Initiatives:

• €1 billion commitment to bio-feedstocks development
• Integration of advanced technologies for higher yields
• Support for EU’s 14% renewable transport mandate

Download FREE Sample Report:
Global and Regional Bio-fuelMarket – View in Detailed Research Report

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3️⃣ 3. Renewable Energy Group (REG)

Headquarters: Ames, Iowa, USA
Key Offering: Biodiesel, Renewable Diesel

Renewable Energy Group, acquired by Chevron in 2022, is a major North American producer of biodiesel and renewable diesel from soybean oil and animal fats, operating extensive biorefineries and supplying transportation fuels under the U.S. Renewable Fuel Standard.

Sustainability Initiatives:

• Expansion of renewable diesel production using waste feedstocks
• Partnerships for SAF supply in North American markets
• Targets for reducing lifecycle emissions by 85%

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2️⃣ 2. Archer Daniels Midland (ADM)

Headquarters: Chicago, Illinois, USA
Key Offering: Corn Ethanol, Biodiesel, Cellulosic Biofuels

Archer Daniels Midland (ADM) is a dominant force in the biofuel industry, reporting $5.6 billion in revenue from biofuels in 2024 through its vast corn ethanol network in North America, producing fuels for gasoline blending and investing in cellulosic ethanol.

Sustainability Initiatives:

• $5.6 billion biofuel revenue driving first- and second-gen production
• Investments in enzymatic tech for 30% yield improvements
• Net-zero ambitions integrated with biofuel expansion

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1️⃣ 1. Neste Corporation

Headquarters: Espoo, Finland
Key Offering: Renewable Diesel, SAF, Biodiesel from Renewables

Neste tops the list with its unparalleled scale in advanced biofuels, producing 3.2 million tons of renewable diesel yearly and pioneering SAF for aviation decarbonization, reducing emissions by 85-90% and leading in second-generation production from waste.

Sustainability Initiatives:

• 3.2 million tons annual renewable production
• SAF development for aviation’s clean fuel needs
• Circular models using byproducts for biogas

Read Full Report:
Global and Regional Bio-fuelMarket – View in Detailed Research Report

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🌍 Outlook: The Future of Biofuel Is Cleaner and Smarter

The biofuel market is undergoing a dynamic shift. While first-generation fuels still dominate in volume, the industry is investing billions in low-carbon alternatives, advanced refining technologies, and distribution networks for second- and third-generation options.

📈 Key Trends Shaping the Market:

• Rapid expansion of second-generation capacity in North America, Europe, and Asia-Pacific
• Regulatory push for 10-20% biofuel blending mandates by 2030 across major economies
• Digitalization of supply chains for emissions tracking and feedstock optimization
• Strategic alliances between producers and end-users for carbon reduction and SAF adoption

Read Full Report:
Global and Regional Bio-fuelMarket – View in Detailed Research Report

The companies listed above are not only powering global energy needs—they’re spearheading the green transition toward a sustainable future.