Advanced Biofuel Market Report 2019-2024: Emerging Trends, Key Players, Types, Application, Trends And Growth Factors

Press Release

Advanced biofuel are the fuels, which can be produced from various types of non-food biomass such as agricultural waste streams, lignocellulose, woody crops, and others. This type of biofuel is known as second-generation biofuel. In first generation biofuel production technology, biofuel is produced from vegetable oils and sugars found in food crops. However, usage of food crops in biofuel production instead of usage for feeding had created concern among stakeholders and in order address this concern, scientists invented the second-generation biofuel, where non-food biomass is used as feedstock.

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On the basis of raw material, the advanced biofuel market has been divided into energy crops, municipal solid waste, green waste, and black liquor. Under energy crops, algae raw material and plants are made from lignin, cellulose, and hemicellulose are considered. These plants can be grown in wastewater and require minimal caring. In addition, as compared to other raw materials, growth rate of energy crops is significantly higher. Owing to such benefits, as of 2017, demand for energy crops as raw material for production of second-generation biofuel surpassed the demand for other raw materials.

In coming years, rapid commercialization of second generation cellulosic ethanol and biodiesel market is expected owing to supportive government regulations and increasing collaboration between countries to optimize the production process. In Germany, SUNLIQUID project has already been established to produce cellulosic ethanol from leaves and stalks of rice straw, maize, and sugar cane. Since 2012, this project is producing up to 1000 metric tons of bioethanol annually.

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On the basis of both value and volume, North America held the largest share in the market in 2017. Regulations such as Farm Security and Rural Investment Act of 2014, Energy Policy Act of 2005 & Energy Independence and Security Act (EISA) of 2007, and California Low-Carbon Fuel Standard (LCFS) are promoting the usage of second-generation biofuel in the U.S. In order to adhere to these regulations, users as well as fuel producers are also opting for environment friendly biofuel. These supportive government regulations are identified as long-term growth drivers for the North American advanced biofuel market.

This post was originally published on Financial Sector

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