TechNavio recognizes the following companies as the key players in the Biofuels market in China: CNPC Corp., COFCO Ltd., Longyan Zhuoyue New Energy Co. Ltd., and Tian Guan Fuel Ethanol Co. Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “One of the main trends witnessed in the Biofuels market in China is the increased investment in third-generation biofuel. Vendors in the Biofuels market have been developing algae biofuel, which is also known as third-generation biofuel. Algae biofuel can be used in vehicles without the need to modify the engine. Algae are found in areas that are not used for food production and do not require fresh water. Thus, the cost of growing algae is less expensive than growing other feedstock.”
According to the report, one of the main factors driving the market is depletion of oil reserves in various regions across the world. The shortage of oil reserves and the increasing demand for vehicle fuels are causing various countries to create alternative methods to reduce dependence on oil. As a result, various governments are funding and subsidizing biofuel manufacturers to increase the adoption of biofuels.
Further, the report states that one of the main challenges is the diminishing food security. The growth of the Biofuels market in China has been threatening the country’s food supply. Many critics believe that although using biofuels might reduce the country’s dependency on fossil fuels, increasing biofuel production might pose a serious food security threat to the country. The threat of food security also increases with the use of food grains, such as corn, soybeans, and sorghum, as feedstock for biofuel production.
The report also includes a discussion of the other vendors operating in this market. The other vendor in the market is Gushan Environmental Energy Ltd.
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/biofuels-market-china-2012-2016
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/energy
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TechNavio Announces the Publication of its Research Report – Biofuels Market in China 2012-2016
