World market of liquid biofuels: trends, policy and challenges

Abstract

This paper aimed at studying the current state of development of liquid biofuels’ world market. The authors considered the theoretical bases of liquid biofuels production, their types, disadvantages and advantages. The world experience of introducing stimulation mechanisms of development and their influence on the sectors’ growth is analyzed. In this study’s frame, there is outlined the world leaders in the production of liquid biofuels. The findings represent the peculiarities of state regulation in implementing mandates for creating transport fuels with bioliquids. The current state of investment in the production of liquid biofuels was investigated. The obtained results contribute to the prospects for promoting world production of liquid biofuels to achieve the Paris Agreement’s goals by 2030 under the sustainable development scenario.