Advanced Biofuel Market

Advanced Biofuel Market - Insights, Size, Share,
Opportunity Analysis, and Industry Forecast till 2025
Advanced biofuels are fuels manufactured from various type of biomass, which
includes waste from agricultural, urban, and other wastes. It also known as
second-generation biofuels. These biofuels are made from woody crops or
lignocellulosic biomass, sugars, non-starch, and agricultural residues, which makes it
harder to extract the required fuel. The second-generation biofuel is developed to
overcome the limitations of high freezing temperatures and negative environmental
effect of first-generation fuels (such as vegetable oil, biodiesel, bioalcohols, biogas,
and syngas) and they can supply large amount of global fuel sustainably, which is
affordable with higher environmental benefits. According to the California Air
Resources Board (CARB), liquid biofuels are manufactured from non-petroleum
sources and can reduce carbon intensity as compared to a petroleum fuel baseline.
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Growing market for renewable energy, government support, and increasing
investments in second generation biofuels are some of the driving factors for the
growth of advanced biofuels market. For Instance, the Australian Government launch
Advanced Biofuels Investment Readiness (ABIR) program by investing US$ 10
million, which supported the development of advanced biofuels and provided funds
to various universities such as James Cook University for its high-energy algal fuels
project.
Advanced biofuels are classified on the basis of raw materials such as jatropha,
camelina, algae, simple lignocellulose, complex lignocellulose, and others. Advanced
fuel produced from algae raw material accounted for the largest market share due to
its oil content. This plant grows on wasteland and can be grown using ocean and
wastewater. Algae-based biofuels are relatively less harmful to the environment if
spilled and are biodegradable in nature. Furthermore, the growth rate of algae is 20
times faster as compared to other raw materials such as jatropha. Advanced biofuels
are also classified on the basis of fuel types such as cellulosic ethanol, biodiesel,
biobutanol, bioDME, and others. Biodiesel fuel type segment holds the largest
revenue share in the global advanced biofuel market. This growth is attributed to
increasing use of biofuels as engine fuel.
North America is the most dominant region in global advanced biofuel market in
terms of revenue and was valued at US$ 3.010 billion in 2016, owing to increasing
demand for cleaner burning transportation fuels. According to Environmental
Entrepreneurs (E2), the national nonpartisan business group, the production
capacity of advanced biofuel in North America was more than 800 gallons in 2014.
Various regulations such as California’s Low Carbon Fuel Standard and Renewable
Fuel Standard are the key drivers for investment in advanced biofuels. The purpose
of these regulations is to reduce emissions of GHG (greenhouse gases) and to
implement low carbon fuel standard.
Europe is the second largest region in global advanced biofuels market. In Europe,
the advanced biofuel market is driven by high R&D&D (research & development &
demonstration) activities in EU indicating the potential growth of market for
applications in marine, shipping, and air transport. The industrial initiatives such as
European Industrial Bioenergy Initiative aims to have their first commercial plants by
2020 in operation. The objective of this initiative is to meet around 4% of EU
transport energy need, with a focus on advanced biofuels.
Asia Pacific is the fastest growing region in terms of value in the global advanced
biofuel market. Asia Pacific was valued at US$ 1.655 Billion in 2016. This is
attributed to the increasing manufacturing industry and growing awareness about the
usage of advanced biofuels in emerging economies such as India, China, and
Indonesia. In Australia, the advanced biofuels sector was supported by the
Australian Renewable Energy Agency (ARENA).
North America accounted for major shares in the global advanced biofuel market, in
terms of revenues, in 2016. Policies such as California’s Fuel Standard and Federal
Renewable Fuel Standard continue to be the primary drivers for the growth of
advanced biofuel market. However, regulatory instability is the major challenge
towards the market growth, which led to decreased investments, in 2014. The
Environmental Protection Agency (EPA) was delayed in its annual announcement for
the Renewable Fuel Standard volumes. Furthermore, high cost of production has
negative impact on the growth of advanced biofuels market.
Major Players in the Global Advanced Biofuel Market
Some of the key players in global advanced biofuels market include Abengoa
Bioenergy, S.A., A2BE Carbon Capture, LLC, Algenol Biofuels, Chemtex group,
Bankchak Petroleum, Clariant Produkte GmbH, Fiberight LLC, DuPont Industrial
Biosciences, Fujian Zhongde Energy Co., Ltd, Inbicon, GranBio, INEOS Bio,
POET-DSM Advanced Biofuels LLC, KiOR Inc., ZeaChem Inc., and Sundrop Fuels,
Inc.
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Advanced Biofuel Market report categorizes the global market by Fuel Type , by Raw Material by Process Type, and by Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

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