The analysts forecast the global biofuels market to grow at a CAGR of 5.87% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global biofuels market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market.
Across the world, there has been an unprecedented interest in biofuels over the past decade. The main reason for this is the volatility in crude oil prices, which is affecting the economic condition of many countries that do not have significant oil and gas reserves to support their growing economy. High dependence on non-renewable fuels has created economic as well as environmental concerns, such as rising greenhouse gas emissions. Several developing and developed economies have implemented regulatory reforms, blending targets, and statutory norms while using biofuels to offset the growing environmental risks associated with conventional fuels.
Development of second and third generation biofuels will be a key trend for market growth. First generation biofuels are produced using vegetable oil, animal fat, and used cooking oil. The feedstocks used in producing biodiesel are also used as food, and the prices of these feedstocks ware directly associated with the demand for biodiesel, thus creating conflict between the food and energy sectors. This continuous conflict led to the development of second and third generation biofuels to overcome the limitation of the first generation fuels. The second generation fuels are produced using non-food crops like wood (saw-dust), organic waste (corn-stover), and specific biomass plants like jatropha, camelina, and switchgrass. The third generation biofuels, also called advanced biofuels, are produced using specially engineered energy crop like algae.
- INEOS Enterprises
- Renewable Energy Group
Other prominent vendors
- Archer Daniel Midland
- Fujian Zhongde Energy
- Guangzhou Devotion Thermal Technology
- Gushan Environmental Energy
- Henan Tianguan Enterprise Group
- Jiangsu Hengshunda Bio-Energy
- Jiangsu Yueda Kate New Energy
- Jilin Fuel Ethanol
- Longyan Zhuoyue New Energy
- Louis Dreyfus Commodities
- Ningbo Tech-Bank
- Shandong Jinjiang Bioenergy Technology
- Tangshan Jin Lihai Biodiesel
- Zhenghe Bioenergy
For more information about this report visit http://www.researchandmarkets.com/research/26jdvb/global_biofuels
Related Topics: Biofuels