Aug 30 2010
Research and Markets, a market data supplying company, has recently brought out a research report titled Developing Biofuel Sources, analyzing the expansion of biofuel markets all over the world. Currently the biofuel market is experiencing a record growth all over the world.
Governments are investing huge sums of money and deploying resources for the progress of biofuel markets to lessen the current dependence on fossil fuel. Instability in oil production and price levels necessitated the growth of biofuel industry. The industry is also witnessing changes in usage of feedstocks for the production of biofuel and continued attempts are made to find alternative feedstocks for improved productivity. Governments all over the world have introduced policy changes to support exclusive growing of feedstock for biofuel production.
The report estimates a 20% annual growth in global biofuel demand by the year 2011 which will be mostly met with biodiesel and bioethanol production. It enumerates that though the biggest growth in biofuel production will be found in Asia, Pacific and parts of Western Europe, North America will continue to remain a leading manufacturer of biofuel. The report predicts that a sudden growth in the alternative feedstock sector will bring in more growth opportunities for the biofuel industry. It anticipates that despite sloth in the availability of feedstock, the US and Europe biofuel industries will still achieve their maximum productivity levels. The report encouragingly talks about the encouraging government support in the BRIC nations and opportunities for new feedstock development for the production of biodiesel.
The report predicts a lasting growth in the production and usage applications for bio-ethanol produced from cellulosic materials due to abundant availability, lower cost of production, and reduction in green house gases. The report covers key topics such as an introduction to biofuels, details on various types of feedstocks with a special mention about producing biofuel from rice bran oil.