According to a new report by Allied Market Research titled, “Global Second Generation Biofuels - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 - 2020”, the global second generation biofuels (Advanced Biofuels) market would reach$23.9 billion by 2020, registering a CAGR of 49.4 per cent during 2014 - 2020.
Currently, biodiesel garners the largest market share; however, the latest and the most commercially viable Cellulosic ethanol would surpass biodiesel and eventually lead the market by 2020. North America generated largest revenue, as it has over 50 per cent of the globally installed capacity base.
Second generation biofuels are developed to overcome the limitations associated with traditional biofuels. Production of traditional biofuels faces barriers such as threat to biodiversity and food versus fuel issues.
On the other hand, second generation biofuels are produced from a range of non-food crops and waste biomass. Also, second generation biofuel production is more energy efficient than the conventional fossil fuels. Such biofuels minimize greenhouse gas (GHG) emissions by over 90 per cent; thus, are more environment-friendly.
Key findings of the study:
- Global market for second generation biofuel is gaining traction with production and supply of cellulosic ethanol and biodiesel as prime growth drivers during the forecast period (2014 - 2020)
- Top factors impacting the global second generation biofuels market are favorable regulatory policies and its environment-friendly nature
- Cellulosic ethanol segment will grow at a CAGR of 52.2% during the forecast period, fastest among all types of second generation biofuels
- Currently, North America holds largest market share, followed by Europe in the overall second generation biofuels market in terms of production
- Among all feedstock used (corn Stover, corn cob, algae, bagasse, straw, wood waste, cellulose, mixed biomass, hardwood, forest residue, animal waste), high volume of second generation biofuels will be produced from algae, due to its oil content, resulting in high yield production
- Some of the leading companies operating in the global second generation biofuels (advanced biofuels) market are Abengoa, POET-DSM, DuPont, GranBio, INEOS Bio and Inbicon
- Most of the market players are focusing on mainly two strategies, namely partnership & collaborations and seeking approvals as key developmental strategies
To view the report, visit the website at http://www.alliedmarketresearch.com/second-generation-biofuels-market
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based inPortland,Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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