May 30, 2020

Global Biofuels Market Analysis and Future Growth Trends | Chemicals Industry Research

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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.

Biofuels Industry Outlook

Biofuels Industry Outlook

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

Food Crops

Lignocellulosic biomass

Oil-rich crops and oil wastes

Organic wastes

Algal biomass

Based on Processing Technology

Enzymatic hydrolysis

Fermentation

Transesterification

Pyrolysis & Gasification

Fisher-Tropsch Synthesis

Biofuels Market, By Type

Bioethanol

Biodiesel

Biofuels Market, By Feedstock Type

Starch-Based

Sugar-Based

Cellulose-Based Biofuels

Vegetable oils

Animal Fat

Biomass

Others

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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