Thailand Biofuels Market Size & Outlook, 2024-2030
Global Report
Related Markets
Thailand biofuels market highlights
- The Thailand biofuels market generated a revenue of USD 2,414.2 million in 2023 and is expected to reach USD 5,378.8 million by 2030.
- The Thailand market is expected to grow at a CAGR of 12.5% from 2024 to 2030.
- In terms of segment, gaseous biofuel was the largest revenue generating form in 2023.
- Liquid Biofuel is the most lucrative form segment registering the fastest growth during the forecast period.
Biofuels market data book summary
| Market revenue in 2023 | USD 2,414.2 million |
| Market revenue in 2030 | USD 5,378.8 million |
| Growth rate | 12.5% (CAGR from 2024 to 2030) |
| Largest segment | Gaseous biofuel |
| Fastest growing segment | Liquid Biofuel |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solid Biofuel, Liquid Biofuel, Gaseous Biofuel |
| Key market players worldwide | Air Liquide SA, Archer-Daniels Midland Co, Bunge Global SA, Green Plains Inc, Petroleo Brasileiro SA Petrobras ADR, Chevron Corp, International Flavors & Fragrances Inc, Shell PLC, Wilmar International Ltd |
Other key industry trends
- In terms of revenue, Thailand accounted for 2.4% of the biofuels market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China biofuels market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,401.8 million by 2030.
Several farmers, especially in the northwestern regions of Thailand, have been encouraged by traders from the country to start growing biofuel crops (mainly Jatropha curcas) for exports, which offer high prices for these crops.
The Government of Thailand has introduced several policies and incentives such as waiving excise taxes for ethanol-blended gasoline and subsidizing gasohol. This subsidy ensures that the price of a liter of gasohol in the country is less than the cost of one liter of regular gas.
Along with two different types of E85 and E10 (octane ratings of 91 and 95), Thailand is one of the few economies in Asia Pacific wherein E20 is available at a retail level.
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Publish Date: Nov 27, 2025
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Biofuels Market Scope
Biofuels Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Chevron Corp | View profile | 45,600 | 6001 Bollinger Canyon Road, San Ramon, CA, United States, 94583-2324 | www.chevron.com |
| Archer-Daniels Midland Co | View profile | 41,802 | 77 West Wacker Drive, Suite 4600, Chicago, IL, United States, 60601 | www.adm.com |
| Wilmar International Ltd | View profile | 100,000 | 28 Biopolis Road, Wilmar International, Singapore, Singapore, 138568 | www.wilmar-international.com |
| International Flavors & Fragrances Inc | View profile | 21,500 | 521 West 57th Street, New York, NY, United States, 10019-2960 | www.iff.com |
| Shell PLC | View profile | 100,000 | Shell Centre, London, United Kingdom, SE1 7NA | www.shell.com |
| Green Plains Inc | View profile | 921 | 1811 Aksarben Drive, Omaha, NE, United States, 68106 | www.gpreinc.com |
| Petroleo Brasileiro SA Petrobras ADR | View profile | 40,213 | Avenida Republica do Chile, 65, Rio de Janeiro, RJ, Brazil, 20031-912 | www.petrobras.com.br |
| Bunge Global SA | View profile | 23,000 | 1391 Timberlake Manor Parkway, Chesterfield, MO, United States, 63017 | www.bunge.com |
| Air Liquide SA | View profile | 67,800 | 75, Quai d'Orsay, Paris, France, 75007 | www.airliquide.com |
Thailand Biofuels Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Biofuels Market Outlook will help companies and investors design strategic landscapes.
Gaseous Biofuel was the largest segment with a revenue share of 53.69% in 2023.
Horizon Databook has segmented the Thailand biofuels market based on solid biofuel, liquid biofuel, gaseous biofuel covering the revenue growth of each sub-segment from 2018 to 2030.
Several farmers, especially in the northwestern regions of Thailand, have been encouraged by traders from the country to start growing biofuel crops (mainly Jatropha curcas) for exports, which offer high prices for these crops.
The Government of Thailand has introduced several policies and incentives such as waiving excise taxes for ethanol-blended gasoline and subsidizing gasohol. This subsidy ensures that the price of a liter of gasohol in the country is less than the cost of one liter of regular gas.
Along with two different types of E85 and E10 (octane ratings of 91 and 95), Thailand is one of the few economies in Asia Pacific wherein E20 is available at a retail level.
- Thailand Biofuels Market Form Outlook (Revenue, USD Million , 2018-2030)
- Solid Biofuel
- Liquid Biofuel
- Gaseous Biofuel
- Thailand Biofuels Market Product Outlook (Revenue, USD Million , 2018-2030)
- Biodiesel
- Ethanol
- Wood Pellets
- Other Product
- Thailand Biofuels Market Feedstock Outlook (Revenue, USD Million , 2018-2030)
- Corn
- Sugarcane
- Vegetable Oils
- Other Feedstock
- Thailand Biofuels Market Application Outlook (Revenue, USD Million , 2018-2030)
- Transportation
- Aviation
- Energy Generation
- Heating
- Other Application
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Horizon Databook provides a detailed overview of country-level data and insights on the Thailand Biofuels Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Thailand Biofuels Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Thailand Biofuels Market, 2018-2030 (US$M)
Thailand Form - Biofuels Market Statistics, 2023 - 2030 (US$M)
