Albany, New York, Oct. 9, 2014 (GLOBE NEWSWIRE) -- In its latest market research report published recently, Transparency Market Research, a U.S.-based market intelligence firm states that the global biofuels market is estimated to grow at CAGR 9.6% between 2013 and 2019. The report, titled "Biofuels Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019," is available for sale on the company's website.
This report discusses the importance of biofuels and the rising global demand for biofuels in order to ensure clean energy usage. Biofuels are derived from living organisms when they undergo the natural process of carbon fixation. The conversion of biomass creates biofuels. Biomass includes plants or plant based matter, wood, organic wastes and residual materials which are organic in nature. Hitherto, the largest source of biomass energy is wood. Biofuels are available in solid, liquid or gaseous forms. Bioethanol, an alcohol, is a liquid biofuel which is derived from the fermentation of carbohydrates produced in corn starch, sweet sorghum and sugarcane. Brazil and the US are the two significant consumers of bioethanol. Ethanol, in its purest form is used directly in automobiles for emission control.
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The world is experiencing surging demand for biofuels, mainly because these are biodegradable, naturally derived and are good substitutes for the conventional energy sources. As a result, the volume of investment is also on the rise because the global biofuels market is proving to be a lucrative one. The applicability of biofuels is vast as these can be used in the automotive industry, railways, industrial oil heating technology and the marine industry. The biofuels market in the US is driven by these factors. Biofuels are gaining popularity worldwide mainly because they are the best sources of clean energy.
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This market research report lays emphasis on the use of biofuels since these are obtained from biological techniques and are environment friendly. The best aspect about biofuels is that they can be produced from oil-rich crops like palm, soy and sunflower which can be grown almost everywhere across the globe. Earlier, the demand for biofuels was driven by increasing prices of fossil fuels. Also, in order to exploit the potential of newer feedstocks like rapeseed, corn and soyabeans, the market forces were not sufficient. At that time, greater R&D activities were carried out to introduce newer feedstocks to support higher production of biofuels.
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According to the TMR report, the demand for biofuels will increase in developing economies like India, China and Russia in the forthcoming years because biofuels are already gaining popularity in these countries. Due to stiff environmental regulations and widespread awareness about biofuels, North America is by far the largest market for biofuels in the world.
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This report studies the global biofuels market on the basis of its three basic forms and on the basis of the type of fuels used which are bioethanol and biodiesel. Besides the value chain analysis, this report has given a comprehensive overview of the restraints, opportunities and the drivers prevailing in the global biofuels market. It has also covered company analyses of some of the popular players in this market which include DSM, Copersucar S.A., Aemetis Inc., Green Plains Inc., BlueFire Renewables, Australian Renewable Fuels Ltd., Raizen Energia Participacoes S.A., Solazyme Inc., Aventine Renewable Energy Holdings, Inc, Renewable Energy Group and Western Dubuque Biodiesel LlC.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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Source:Transparency Market Research