Biofuels are sources of energy derived from renewable biomass which is considered as alternative to the fossil fuels such as oil, natural gas and coal. The rising demand from developed countries for cleaner fuel and various regulatory mandates in European countries for reduction of fossil fuel consumption will drive the market for biofuels technology and production.
The rising demand for biofuel requires a sustainable source of biomass, technology conversion and other requirements of biofuel value chain to determine overall costs and benefits in future.
Over the period of two decades the technology development has led to application off first and second-generation biofuel (food crops, waste biomass) for commercial use in transportation, industry, heat generation in various applications. But third (algal derived) and fourth generation biofuel (based on synthetic biology/genetic engineering) are in R&D phases.
The application of novel bioengineering technology for biofuel processing will not only reduce the cost of production of biofuel but will also help in reduction of bio-waste/emission, thus promoting clean energy development.
The key exemplary players in the domain are ABENGOA BIOENERGY, IOGEN, CELTIC RENEWABLES, AGROETANOL AB, BP PLC, ADM, CARGILL, POET LLC, TEREOS SA, VALERO ENERGY, SOFIPROTEOL, XL RENEWABLES, ALGAE BIOSCIENCES etc.
Innovations in Biofuel Development
Based on Generations of Biofuel Development
First generation: produced from food crops and animal fats
Second generation: produced from waste biomass
Third generation: produced from algae
Fourth generation: Solar biofuels/ synthetic biology technologies
Based on Biomass Feedstock
Oil-rich crops and oil wastes
Based on Processing Technology
Pyrolysis & Gasification
Biofuels Market, By Type
Biofuels Market, By Feedstock Type
Browse a Full Report on Global Biofuels Market https://www.jsbmarketresearch.com/chemicals/biofuels-market-global-market-analysis-and-future-growth-trends
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