Higher efficiency is broadening the market scope of the Global Second Generation Biofuels

22 Dec
2014

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Allied Market Research publishes a report titled "Global Second Generation Biofuels - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020." The report forecast the global second generation biofuels (Advanced Biofuels) market to attain a market value of $23.9 billion by 2020 with a CAGR of 49.4% during 2014 - 2020.

At present, Biodiesel holds the largest market share in terms of volume; however, cellulosic ethanol would be the leading market segment by 2020 due to its commercial viability. As North America has more than 50% of the global installed capacity base, it generates the maximum revenue.

The major reason driving the growth of the second generation biofuels market is its advantages over the traditional biofuels such as highly efficient, more friendlily towards environment, and it mitigates the food versus fuel issues. Second generation biofuels reduces the greenhouse gas by 90%. Further, financial support and government backing propels the growth of the second generation biodiesel market.

However, requirement for land in the area of the feedstock, complicated production process and high initial investment would hinder the market growth in the future.

The cellulosic ethanol is forecast to grow at a 52.2% CAGR due to technological strides for mass production. North America holds around 82% of the market share due to favourable government policies and large production capacities. Of late, Procter & Gamble declared a partnership with DuPont to utilize cellulosic ethanol, switching corn based ethanol in the Tide detergent in North America.

Due to high oil content of Algae, it is expected to be the most preferred raw material for the production of second generation Biofuels. The report also profiles key global players in the global second generation biofuels to give us details on their key strategies.

Key Market Players:-
Algenol Biofuels
Abengoa bioenergy
GranBio
INEOS Bio
Inbicon
Clariant
ZeaChem
DuPont Industrial Biosciences.

Akhilesh Prabhugaonkar

Author's Bio- Akhilesh Prabhugaonkar holds a bachelor’s degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.

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