Increase in demand for Second- and Third-Generation Biofuels Market with CAGR 48.9%

The Asia-Pacific second- and third-generation biofuels market is expected to grow at the highest rate, owing to the increase in investment in R&D of advanced biofuels. Australia, India, and China, invest for the development of advanced biofuels. Other factors that are expected to drive the demand for the market in the Asia-Pacific region during the forecast period are feedstock availability and rapid increase in number of production facilities. In addition, out of all the patents registered between 2010 and 2016, majority of the patents were from Korea, China, and Japan. Moreover, the production cost of second- and third-generation biofuels is relatively low in Asia-Pacific as compared to other regions.

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The biodiesel segment accounted for the major share of the market in 2015, owing to the blending mandates imposed by various governments globally. Due to reduced production expenses and continuous R&D for improvisation in production technology, the bioethanol segment witness highest growth in North America and Europe during the forecast period.

Benefits of second- and third-generation biofuels include increased food supply and availability of cleaner fuel. Unlike the first-generation biofuels, which are based on crops & plants consumed by humans, the second- and third-generation biofuels are produced from non-food crops, thereby eliminating the dearth of food caused by first-generation biofuels. Furthermore, the second- and third-generation biofuels has lesser greenhouse gas emissions than first-generation biofuels. A study by European oil industry-funded research body Conservation of Clean Air and Water in Europe (CONCAWE) shows the greenhouse gas emissions savings of these advanced biofuels to be 90% as compared to traditional fossil fuels.

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The U.S. Renewable Fuel Standards (RFS) has imposed blending mandates for cellulosic ethanol on the use of fuels, particularly in transportation. RFS is a part of the Energy Independence and Security Act (EISA) of 2007 and defines the minimum volume of biofuels that are expected to be blended with conventional fuels. The U.S. imposed blending mandates for second generation biofuels. However, the EU Renewable Energy Directive encourages their use by considering the contribution of second-generation biofuels in achieving renewable energy targets.

Global Second- and Third-generation Biofuels Market generated revenue of $3,574 million in 2015, and is expected to reach at $57,124 million by 2022, registering a CAGR of 48.9% from 2016 to 2022.

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Key Benefits for Stakeholders

Comprehensive analysis of the drivers and restraints that affect the market growth is provided.
The report provides quantitative analysis of the current trends and future estimations from 2014 to 2022 to assist the stakeholders to identify prevalent market opportunities.
Top investment pockets highlight the opportunities in the most lucrative product segment.
Key players of the market are profiled and their strategies are analyzed to identify the global competitive outlook.
Market trends of major countries in each region are mapped according to the estimated revenue.

The key players of the second- and third-generation biofuels market profiled in this report are Algenol Biofuels, Inc., Abengoa S.A., Blue Marble Biomaterials, Sapphire Energy, Inc., Chemrec AB, GranBio, DONG Energy A/S, INEOS Bio, Clariant, and ZeaChem, Inc.

The other players in the value chain (not profiled in the report) include American Process, Inc., Amyris, Inc., Butamax Advanced Biofuels, LLC., Enerkem, Emco Klimatechnik Gmbh & Co. KG, Gevo, Inc., POET, LLC., and Joule Unlimited, Inc.

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