Summary
The global biofuel market is continuously witnessing a healthy growth over the past decade. Factors are playing an important role for such a tremendous growth of the industry like feedstock flexibility, sustainability, research and development, government support and stringent policy structure. Concerns related to energy security, climate change, economic stagnation are some of the driving factors that are leading to the proliferation and excess demand of energy fuels. The main aim and target keeping in view the challenges, environment concerns are to augment the production and consumption of clean transportation fuels to reduce dependence on natural resources and an imported oil which otherwise adds to the country’s economy, mitigate greenhouse gas (GHG) emissions, and drive economic development. Therefore, the only solution that is left is finding an alternate to petroleum based fuels or fossil fuels and opt for biofuels. It is here where biofuels play an important role.
These biofuels are playing an important role with respect to an expanding portion of consumer demand in major sectors like aviation, navy or maritime transportation etc. Intensive research and development has now led to new techniques where even genetically modified microbes (fourth generation biofuels) and feedstocks such as jatropha Curcas (third generation biofuels) could be used for biofuel production. While first generation biofuels are derived from corn starch, sugarcane, rapeseed, soy etc. whereas second generation biofuels are derived from non lignocellulosic feedstocks. Therefore, an emergence of advanced conversion pathways and non-food feedstocks could unlock considerable production potential throughout the world. The US, European Union and Brazil account for the major producers of biofuels, with Brazil as an emerging player. Our Research estimates that the global biofuel market will reach USD 11.59 trillion by the end of the year 2026, growing at the rate of 2.24 percent from the year 2016. As interests for biofuels among main key players of biofuel industry rises, a great flexibility towards partnerships is expected. This report provides an overview of the market scenario, dynamics, drivers and challenges that will affect the growth projections. This report also provides an insight regarding the IP (Intellectual Property), patent landscape trends and also about industry’s main key players like GEVO, POET, DuPont, Neste, Bluefire etc. It covers the entire market with respect to both ethanol and biodiesel market.
