“US Biofuel Market Analysis”, a new research report from RNCOS, anticipates the US biofuel industry, particularly ethanol production, to lead the world biofuel production during 2008-2017.
As per the report, the US has emerged as the world’s largest biofuel industry, with its ethanol production soaring to 4.9 Billion Gallons in the year 2006, an increased of around one Billion Gallons from the production level in 2005, and contributed 36% of the total global ethanol production. While the growth in ethanol production was substantially high in 2006 from 2005, the industry still continues to enhance its production capacity.
Seeing this remarkable performance of the US biofuel industry, a Senior Research Analyst at RNCOS commented that it will not be wrong to say that the global ethanol industry is centered around the US. Moreover, the US is expected to lead the global ethanol production in future. The main reasons behind this projection, says the analyst, are the long-term government intervention (Renewable Fuels Standard policy) and setting up of more ethanol plants. Besides, continuous rise in domestic ethanol demand will encourage domestic producers to keep adding to the production volume in coming years.
The RNCOS research says that this radical rise in ethanol production in the US has virtually affected every aspect of field crops sector - from domestic demand and exports to prices, acreage allocation among crops, and even the livestock sector. Under such commodity market effects, government payments, farm income and food prices have changed significantly.
Apart from ethanol, the research report “US Biofuel Market Analysis” provides comprehensive information on market trends prevailing in the US biodiesel sector also. It exhaustively evaluates the biofuel industry, with segment-wise discussion on ethanol and biodiesel and identifies the major success areas. The study also highlights the main driving forces in the US biofuel market to help clients understand the leading-edge opportunities present in the industry.
In addition, the report provides forecast on renewable energy use in the US, ethanol production from different sources, biodiesel production, retail prices of ethanol and biodiesel.