Press release
Rapid Increase in End-use Adoption to Boost Second-Generation Biofuels Market Revenue Growth
Global Second Generation Biofuels Market would reach $23.9 billion by 2020, registering a CAGR of 49.4% during 2014 - 2020.
Currently, Biodiesel garners the largest market share; however, the latest and the most commercially viable Cellulosic ethanol would surpass Biodiesel and eventually lead the market by 2020. North America generated largest revenue, as it has over 50% of the globally installed capacity base.
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Currently, North America accounts for about 82% of the global market share, as various market players prefer the United States. for operating their pilot plants, chiefly due to supportive regulatory environment. Recently, Procter & Gamble announced a collaboration with DuPont to use cellulosic ethanol, replacing corn based ethanol in its Tide detergent in North America. Other major players recently started the production of cellulosic ethanol in North America are INEOS New Planet BioEnergy, Poet-DSM Advanced Biofuels LLC, Canergy LLC, Abengoa bioenergy, Amyris and Enerkem among few.
In conjunction with benefits delivered by second generation biofuels, financial incentives and supportive regulations in the U.S. and Europe are instrumental in driving the commercial production and adoption of advanced biofuels; Renewable Fuel Standards (RFS) in the U.S. is among one of such initiative.
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Key Findings of Second-Generation Biofuels Market:
o Global market for second generation biofuel is gaining traction with production and supply of cellulosic ethanol and biodiesel as prime growth drivers during the forecast period (2014 - 2020)
o Top factors impacting the global second-generation biofuels market are favorable regulatory policies and its environment-friendly nature
o Cellulosic ethanol segment will grow at a CAGR of 52.2% during the forecast period, fastest among all types of second-generation biofuels
o Currently, North America holds largest market share, followed by Europe in the overall second-generation biofuels market in terms of production
Top Leading Market Players:
The key market players operating in different segments of market are Algenol Biofuels, Abengoa bioenergy, GranBio, INEOS Bio, Inbicon, Clariant, ZeaChem, DuPont Industrial Biosciences.
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