TechNavio recognizes the following companies as the key players in the Global Algae Biofuel Technologies Market: Bayer MaterialScience LLC, Desmet Ballestra Group N.V., Georg Fischer Ltd., and Siemens AG.
Commenting on the report, an analyst from TechNavio’s team said: “Governments in various countries including the US, Italy, China, Germany, and India have been funding biofuel projects, and have introduced incentives and subsidies to vendors that produce biofuels. For instance, the US has announced a stimulus package of US$100 billion to develop clean, alternative, and renewable technologies. The US Government has also introduced its Renewable Fuels Reinvestment Act, which proposes an extension of Volumetric Ethanol Excise Tax Credit, allowing a US$0.54 per gallon tariff on imported ethanol until December 2015. It has also introduced various tax credits to help improve the production of ethanol. The US Department of Energy has awarded US$151 million in funding to 37 biofuel-related projects under its Advanced Research Projects Agency-Energy program. Similar incentives are being introduced in other countries and this is one of the major trends which is expected to drive the Global Algae Biofuel Technologies market in the future.”
According to the report, one of the major drivers in this market is the increasing environmental awareness. The increase in pollution caused by fossil-based fuels is one of the major reasons for the increase in demand for alternative vehicle fuels. The ability of biofuels produced from algae to reduce environmental pollution significantly is in turn driving the growth of the Global Algae Biofuel Technologies market.
Further, the report states that one of the major challenges in this market is the high cost of production of algae biofuels. Second and third-generation biofuel feedstock such as algae and bacteria requires a high initial cost for its production. Apart from production costs, the companies involved in the production of biofuels from algae also incur the high costs of fuel conversion. This can have a negative impact on the growth of the market in the near term.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-algae-biofuel-technologies-market…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report -Global Algae Biofuel Technologies Market 2014-2018
