Biofuels

Global Market for biofuels is projected to reach US$57.8 billion by 2020, driven by superior energy efficiency benefits over conventional fossil fuels, government support of eco-friendly alternatives, higher biofuels blending mandates for transportation fuels, and focus on alternatives to fossil fuels as means to achieve energy sustainability and security. The United States represents the largest market worldwide, with a 45.2% share of global consumption in 2015.in the United States and European Union; growing popularity of second generation biofuels and use of cellulose feedstocks will reduce the subsided offered on conventional biofuels. Asia-pacific ranks as the fastest growing market with a CAGR of 14.5% over the analysis period. Latin America represents the second fastest growing market. Tropical Climate with abundant sunshine and arable land availability make developing Asian countries attractive markets for biomass and biofuels production