Advanced Biofuel Market- Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

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Advanced Biofuel Market- Global Industry Insight,
Trends, Outlook, and Opportunity Analysis
2018-2025

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REPORT DESCRIPTION
Advanced Biofuel Market Overview
Advanced biofuels are fuels manufactured from
various type of biomass, which includes waste
from agricultural, urban, and other wastes. It
also known as second-generation biofuels. These
biofuels are made from woody crops or
lignocellulosic biomass, sugars, non-starch, and
agricultural residues, which makes it harder to
extract the required fuel. The second-generation
biofuel is developed to overcome the limitations
of high freezing temperatures and negative
environmental effect of first-generation fuels
(such as vegetable oil, biodiesel, bioalcohols,
biogas, and syngas) and they can supply large
amount of global fuel sustainably, which is
affordable with higher environmental benefits.
According to the California Air Resources Board
(CARB), liquid biofuels are manufactured from
non-petroleum sources and can reduce carbon
intensity as compared to a petroleum fuel
baseline. Growing market for renewable energy,
government support, and increasing investments in
second generation biofuels are some of the
driving factors for the growth of advanced
biofuels market. For Instance, the Australian
Government launch Advanced Biofuels Investment
Readiness (ABIR) program by investing US 10
million, which supported the development of
advanced biofuels and provided funds to various
universities such as James Cook University for
its high-energy algal fuels project.
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REPORT DESCRIPTION
Advanced biofuels are classified on the basis of
raw materials such as jatropha, camelina, algae,
simple lignocellulose, complex lignocellulose,
and others. Advanced fuel produced from algae raw
material accounted for the largest market share
due to its oil content. This plant grows on
wasteland and can be grown using ocean and
wastewater. Algae-based biofuels are relatively
less harmful to the environment if spilled and
are biodegradable in nature. Furthermore, the
growth rate of algae is 20 times faster as
compared to other raw materials such as jatropha.
Advanced biofuels are also classified on the
basis of fuel types such as cellulosic ethanol,
biodiesel, biobutanol, bioDME, and others.
Biodiesel fuel type segment holds the largest
revenue share in the global advanced biofuel
market. This growth is attributed to increasing
use of biofuels as engine fuel. North America is
the most dominant region in global advanced
biofuel market in terms of revenue and was valued
at US 3.010 billion in 2016, owing to increasing
demand for cleaner burning transportation fuels.
According to Environmental Entrepreneurs (E2),
the national nonpartisan business group, the
production capacity of advanced biofuel in North
America was more than 800 gallons in 2014.
Various regulations such as Californias Low
Carbon Fuel Standard and Renewable Fuel Standard
are the key drivers for investment in advanced
biofuels. The purpose of these regulations is to
reduce emissions of GHG (greenhouse gases) and to
implement low carbon fuel standard. Request
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REPORT DESCRIPTION
Europe is the second largest region in global
advanced biofuels market. In Europe, the advanced
biofuel market is driven by high RDD (research
development demonstration) activities in EU
indicating the potential growth of market for
applications in marine, shipping, and air
transport. The industrial initiatives such as
European Industrial Bioenergy Initiative aims to
have their first commercial plants by 2020 in
operation. The objective of this initiative is to
meet around 4 of EU transport energy need, with
a focus on advanced biofuels. Asia Pacific is
the fastest growing region in terms of value in
the global advanced biofuel market. Asia Pacific
was valued at US 1.655 Billion in 2016. This is
attributed to the increasing manufacturing
industry and growing awareness about the usage of
advanced biofuels in emerging economies such as
India, China, and Indonesia. In Australia, the
advanced biofuels sector was supported by the
Australian Renewable Energy Agency (ARENA). The
advanced biofuel market was valued at US 8.880
Billion in 2016 globally and is expected to
expand at a CAGR of 41.18, in terms of revenue,
during 2017 2025. To Get Discount on this
Report https//www.coherentmarketinsights.com/ins
ight/request-discount/960
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