Global Biofuels Market - Reducing Dependency on Oil

Developing Biofuel Sources

Developing Biofuel Sources

The global biofuels market is witnessing unprecedented growth. World governments are injecting large sums of money and resources into the development of biofuels in an attempt to reduce dependency on oil. Continued volatility of oil prices and production levels have further hastened the need for aggressive developments into this sector.

The biofuel industry is transitioning from first generation feedstocks to alternative feedstocks, emerging technology development, and new government policies supporting sustainable feedstocks and fuels. With this growth comes challenges and opportunities for developers, producers, feedstock producers, and entrepreneurs.

This report examines traditional and emerging sources used to derive biofuels, and discusses promising biofuel feedstock sources. Worldwide biofuel demand is projected to grow 20 percent annually through 2011.

Bioethanol and biodiesel will make up the majority of the market, with North America
being the dominant producer, but the largest growth in the Asia/Pacific and Western Europe regions. A surge in demand for alternative feedstocks is driving new growth opportunities in the sector.

First generation biofuel markets in Europe and the U.S. remain constrained by feedstock availability, but have still reached remarkable biodiesel production capacity levels. In the BRIC nations of government initiatives are encouraging new opportunities for feedstock development and biodiesel production.

Biofuel is any fuel that is derived from biomass - such as cow manure, rice bran oil, bran oil, garbage, chicken feathers, styrofoam, apples, beer, coffee, fungi, and many other renewable sources.

The greatest long-term future potential for large-scale application of biofuels appears to be in the manufacturing of ethanol from cellulosic materials on account of their widespread availability, abundance, low feedstock cost, and significant lifecycle GHG emission reductions that can be attained. Examples of cellulosic feedstock include forest products, wood wastes, crop residues such as maize stover (stalks, leaves, and husks left in the fields after harvesting maize), and energy crops such as switch grass.

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Pages: 93
Publication Date: May 2010
Publisher: Energy Business Reports
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