Delhi, India (PressExposure) July 20, 2009 -- According to our report, âGlobal Biofuel Market Analysisâ, global ethanol production will grow at a CAGR of 6.04% during 2009-2018 to reach 33,895 Million Gallons. Tax benefits and subsidies given by governments across the globe will make the biofuel prices competitive, which in turn, play a major part in increasing their production. Moreover, many countries are going for the next generation biofuels made from wood and waste (or non-food crops) which will help to fight against the rising food prices and make biofuels cheaper.
The US ethanol production base will be accredited for growth in the world ethanol production as the US accounted for 44% of the total world ethanol production in 2008. Governmentâs plan to introduce E85 along with the phasing out of MTBE resulted in the increased ethanol demand in the country. Since the US imports a large amount of ethanol from Brazil, the country has high potential for expanding its ethanol production capacity.
We have also found that the biodiesel production in the US has been rising over the past few years (2005-2008) and reached an estimated value of 700 Million Gallons in 2008. Moreover, the Biodiesel Blenders Tax Credit Programs and the Commodity Credit Commission Bio-energy Program have emerged as strong driving factors for the US biodiesel production.
The US government is going for the advanced biofuels i.e. second generation biofuels because second-generation biofuels reduce and ultimately eliminate the use of landfill for many waste materials by converting them into fuel for cars. Presently, ethanol is produced in the US by using corn as a raw material which can have worse environmental impacts than fossil fuels because processing of corn and clearing land to grow the crop release carbon into the atmosphere.
âGlobal Biofuel Market Analysisâ also provides comprehensive and updated information about the world biofuel market. It studies the emerging trends in the global biofuel industry and gives exclusive forecasts for ethanol production, biodiesel production, ethanol consumption, biodiesel demand, biodiesel production capacity and biodiesel demand by regional and globally.
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