Algae-Based Biofuel Market Set to Grow US$ 19,161.1Mn by 2032 | Genifuel Corporation, Sapphire Energy, VG Energy, Inc

Global Algae-Based Biofuel Market reached US$ 9,230.5 million in 2024 and is expected to reach US$ 19,161.1 million by 2032, growing with a CAGR of 9.5% from 2025-2032.

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Algae-based biofuel refers to renewable fuels (like biodiesel, bioethanol, and jet fuel) derived from microalgae or macroalgae. Algae have high lipid content, fast growth rates, and minimal land requirements, making them a sustainable alternative to fossil fuels. The global market is gaining momentum due to rising fuel demand, carbon reduction goals, and innovations in algae cultivation and harvesting technologies.

List of the Market Players in the Global Algae-Based Biofuel Market:

Genifuel Corporation, Sapphire Energy, VG Energy, Inc., Viridos, Algenol Biotech, GreenFuel Technologies, Culture Fuels, Inc, ALGAMOIL LLC, AlgaEnergy and Cellana Inc.

Industry News:

In January 2024, HutanBio received around US$2.85 million from the Clean Growth Fund to fast-track the commercialization of its HBx biofuel. HBx is a sulfur-free, sustainable alternative to traditional maritime fuels, developed using CO2-fed algae grown in AI-managed bioreactor farms located on non-agricultural land. Following successful trials in Malaysia, the company plans to expand with new biofarm sites in Morocco and Australia, aiming to strengthen energy security and promote sustainable development.

In April 2023, Chevron New Energies invested in Viridos, Inc., a company specializing in algae-based biofuels for aviation and diesel use. The US$25 million Series A funding round was led by Breakthrough Energy Ventures, with support from United Airlines Ventures and Chevron. Viridos has enhanced algae oil productivity to seven times that of wild strains, positioning it as a promising sustainable feedstock for the heavy transportation sector and a step toward reducing fossil fuel dependence.

Research Methodology:

The global Global Algae-Based Biofuel Market research report utilizes both primary and secondary data sources to provide a well-rounded analysis. Throughout the research process, various influential factors are assessed-including regulatory frameworks, current market dynamics, historical trends, competitive landscape, technological progress, upcoming innovations, and related industry developments. The report also considers market volatility, growth prospects, potential barriers, and emerging challenges to offer a comprehensive view of the market environment.

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Segment Covered in the Global Algae-Based Biofuel Market:

By Type: Bioethanol, Biodiesel, Biogasoline, Green Diesel, Sustainable Aviation Fuel

By Cultivation Technology: Open pond systems, Closed Photobioreactors (PBRs), Hybrid Systems

By Application: Transportation Fuel, Aviation, Marine, Power Generation, Industrial Applications, Other

By Production Method: Heterotrophic Cultivation, Autotrophic Cultivation, Mixotrophic Cultivation

Regional Analysis for Global Algae-Based Biofuel Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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