Delhi, India (PressExposure) August 07, 2009 -- Amidst the global economic downturn and volatile oil prices, countries across the world have started reducing their dependence on oil and are looking for alternative fuels to sustain their economic growth. For this, they are injecting huge amount of money and resources into the biofuels industry. According to our new research report, âGlobal Biofuel Market Analysisâ global ethanol production will grow at a CAGR of over 6% from 2009-2018 to reach 33,895 Million Gallons.
We have found that the government policies are emphasizing on the use of biofuels in order to look for alternate fuel supply. Energy security concerns and the need to reduce dependence on imported oil due to volatile petroleum prices have forced countries worldwide to take a serious interest in biofuels. Moreover, pricey nature of biofuel production has forced governments to modify their regulatory mechanisms, tax structure and subsidies to favor the biofuel production.
A key interest in developing or expanding biofuel industry is the environmental benefits, including the potential to reduce emissions such as GHG. It is estimated that road transportation contributes 25% of the global CO2 emissions. Therefore, countries are considering biofuels as an alternate source of energy for transportation.
Our research has also found that many western countries are going for the advanced biofuels i.e. second generation biofuels. The second generation biofuels are produced by using biomass consisting of non-food parts of crops like stems, husk and leaves. As a result, second-generation biofuels reduce and ultimately eliminate the use of landfill for many waste materials by converting them into fuel for cars.
âGlobal Biofuel Market Analysisâ gives extensive information of the past and current performance of various segments of biofuel industry at the country level such as ethanol production, ethanol demand, biodiesel production, biodiesel demand and production capacity of biofuels plants. It gives broad overview of the advancements made in second generation biofuels and feedstock required for the production of biofuels. The report also thoroughly examines factors making biofuels an inevitable source of future energy requirements, like social and environment benefits, Kyoto protocol and rural development.
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