Global Advanced Biofuels Market to Surpass US$ 195 Billion by 2025

SEATTLE, Oct. 26, 2017 -- According to Coherent Market Insights, the global advanced biofuels market was valued at US$ 8.88 billion in 2016 and is projected to witness a CAGR of 41.18% over the forecast period (2017-2025). Global bodies are actively promoting use of advanced biofuels to reduce carbon emissions, creating favorable conditions for market growth.  

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Key Trends and Analysis of the Advanced Biofuels Market:
Among fuel types, biodiesel segment held highest revenue share in global advanced biofuels market. This mainly due to the large vehicle parc of diesel-powered vehicles and rising focus on decreasing fuel emissions. A joint study conducted by the U.S. Department of Agriculture, and the U.S. Department of Energy determined that biodiesel reduces net carbon dioxide emissions to the atmosphere by 78.5% compared with petroleum diesel fuel. According to Organization for Economic Cooperation and Development, global biodiesel consumption is projected to rise by 14% from 2016 to 2020.

Among raw materials, algae segment dominated the global advanced biofuels market in 2016 and is projected to retain its dominance over the forecast period. This due to high yield of 100,000 liters of oil per hectare for algae as compared to palm—the next best crop—yielding 5,000 liters of oil per hectare.     

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Key Market Takeaways:

• North America accounted for the largest revenue share in the global advanced biofuels market. The prime driver for biofuel production in North America is the implementation of Renewable Fuel Standards (RFS), under Energy Policy Act 2005 to promote use of biofuels, with renewable fuel volume target set at around 136 billion liters by 2022.      
• Asia Pacific is projected to be fastest growing region in global advanced biofuels market, witnessing a CAGR of 43.33% over the forecast period, mainly due to supportive government initiatives in major automotive hubs of India and China. In India, Center for Jatropha Promotion has designated 200 districts of jatropha cultivation aiming to convert 3 million hectare of wasteland into jatropha land by 2019.  
• Leading players in advanced biofuels market are strategically investing into local market through deeper understanding of local biofuel trends. For instance, in the U.S, DuPont and Genera Energy along with University of Tennessee are working with local farmers to develop sustainable cellulosic ethanol from switch-grass and other plants.

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