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Tuesday, March 2, 2021

Next-Generation Biofuels Driving the Growth of Global Biofuel Market

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Social and environmental benefits of next-generation biofuels, mainly cellulosic ethanol, Algae fuels, Drop in fuels, and biobutanol, are fuelling its rapid growth momentum, says RNCOS.

Noida, UP

According to our recent report, “Global Biofuel Market Analysis”, the global biofuel industry has been witnessing rapid growth over the past few years in the backdrop of depleting fossil fuels and degradation of environmental conditions. Many economies have turned their attention towards biofuels. Next-generation biofuels have shown a notable growth in the recent years. These biofuels are inherently more efficient than first-generation biofuels. The report infers potential feedstocks for the next-generation biofuels that include forest residues (sawdust), industry residues (black liqor from the paper industry), agricultural residues (corn stover), municipal waste, and sustainable biomass (jatropha, camelina, and switchgrass).

Cellulosic ethanol, a second-generation ethanol is the only foreseeable renewable feedstock for sustainable production of transport fuels. Cellulose-based biofuels offer substantial advantages over current corn ethanol. Their main benefit is that they can be grown at low cost on marginal land where they will not compete with traditional food crops. The market for cellulosic ethanol will amount to around US$ 75–140 Billion worldwide by 2020.

Our report “Global Biofuel Market Analysis”, provides an extensive research and rational analysis of the global biofuel industry and its different segments. It provides a deep insight into the regional trends prevailing across the globe. Analysis and statistics regarding the market size, growth, regional segmentation, and trends in technology developments have been thoroughly studied in the report to provide intending clients a comprehensive overview of the biofuel industry. In addition, it also contains information about government support that would facilitate clients to formulate appropriate strategies for the expansion of business in the untapped markets.

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.

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