According to our report, “Global Biofuel Market Analysis”
the global biofuel industry has been witnessing fast growth during the past few years in the backdrop of depleting fossil fuels and degradation of environmental conditions. Since the second half of the 20th century, amid concerns about rising oil prices and greenhouse gas emissions from fossil fuels, the biofuels are gaining increased attention. Moreover, the increasing environmental concerns and rapid exhaustion of oil wells have raised the need for alternative fuels.
As per our research, the next generation biofuels like Drop-in-fuels, algae biofuels, Synfuels, Green Diesel, Biobutanol, biofuels from biomass, biofuels from all types of wastes including city/farm waste, Cellulosic Ethanol, artificial photosynthesis etc. are gradually becoming popular all over the world. Among all the next generation biofuels, algae biofuels are showing a promising future. During the past few years, algae biofuels have witnessed substantial investment from the public and private sectors. Moreover, in the face of increasing petroleum scarcity, oil prices, oil price volatility, and greenhouse gas emissions, algae remain an untamed resource, but full of potential. As a result, we anticipate that the algae-based biofuels will grow at a CAGR of around 70% during 2010-2020.
Further, we have found the growth prospects of the biofuel industry in the developing countries. Asia Pacific has an enormous potential in the field of biofuel production due to cheap availability of feedstock. All the countries have shown great interest in raising the production of biofuels in order to use them as alternatives of conventional energy sources.
Our report, “Global Biofuel Market Analysis”, provides an extensive research and rational analysis of the global biofuel industry and its different segments. Our report gives a deep insight into the regional trends of biofuel market prevailing across the globe. Analysis and statistics regarding the market size, growth, regional segmentation, and trends in technology developments have been thoroughly studied in the report to provide clients a comprehensive overview of the biofuel industry.
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