Jul 5 2010
In the recent years, the biofuel market has been growing substantially amidst environmental degradation and diminishing fossil fuel resources. Many economies have shifted their attention from conventional fuels towards biofuels, providing biofuel producing companies with support through tax incentives and subsidies. To increase the demand for biofuels, blending biofuels with conventional fuel has been made mandatory in many countries.
The new biofuel industry report, “Global Biofuel Market Analysis”, from RNCOS states that between 2010 and 2013, biodiesel is likely to record a CAGR growth of about 8% and ethanol is expected to grow around 15.5%. The report also discusses the different factors that influence the production growth of ethanol and biodiesel and offers rational analysis, technology developments, regional trends, and a comprehensive overview of the biofuel industry around the world.
According to the report, about 90% of the total ethanol produced globally comes from Canada, Brazil, and the US. On the other hand, the main driver for biodiesel production is the EU, which produces around 60% of the world’s total biodiesel. Among developing countries, Asia Pacific has a great potential due to the easy availability of low cost feedstock. Australia, Thailand, China, Japan, India, and Indonesia have shown great interest in expanding biofuel production for future utilization as an alternative to conventional power sources.
To help producers expand their businesses in untapped markets, the report provides information on appropriate strategies, government support, cost analysis, and distribution issues. Information on second generation biofuels that boost per acre land production capacity and the environmental as well as social benefits are also available in the research report.