According to Technavio’s latest market research study, the global advanced biofuel market is expected to grow at a CAGR of close to 44% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global advanced biofuel market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the fuel type
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The top three revenue contributing product segments are discussed below
Global advanced biofuel market by cellulosic ethanol: Various raw materials rich in cellulose content such as agricultural waste and residues, grasses, algae, wood chips, and plants, can be used to produce cellulosic ethanol. Cellulosic ethanol can also be produced by the gasification process of lignocellulosic raw materials.
“The industry analysts at Technavio anticipate the increasing consumption of cellulosic ethanol as an automotive fuel, as the fundamental driving force for the growth of the global advanced biofuel market during the forecast period,” says Ajay Adikari, a lead analyst at Technavio for research on speciality chemicals.
Global advanced biofuel market by cellulosic biodiesel: The leading countries for biodiesel production are the US, Brazil, Germany, France, Argentina, and the Netherlands. The rising awareness of the use of clean fuel in reducing carbon emissions is likely to drive the demand for biodiesel. Government support and initiatives to decrease fossil-fuel dependency is also projected to foster the growth of the market.
Global advanced biofuel market by biobutanol: Biobutanol helps in reducing carbon emissions, which helps in lowering the causes of global warming and aids in environment protection. High energy density and lower volatility are the key driving factors for the growth of the biobutanol market. The rising demand for renewable and alternative fuels over fossil fuels is likely to support the demand for biobutanol in the global market.
The top vendors operating in the global advanced biofuel market are:
- Algenol
- Diamond Green Diesel
- DuPont
- Fiberight
- GranBio
Other prominent vendors in the market include Emerald Biofuels, POET-DSM Advanced Biofuels, and Renewable Energy Group.
A more detailed analysis is available in the Technavio report titled, ‘Global Advanced Biofuel Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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