Biofuel Expected To Grow Up To 15.5%
20 July 2010 DUBLIN, Ireland — According to the new Global Biofuel Market Analysis by Research and Markets, biofuel usage is expected to grow by up to 15.5% during 2010-2013. Citing the depletion of fossil fuels and “degradation of environmental conditions,” the report says the biofuel industry is gaining government support in many countries through subsidies and tax incentives, as well as mandatory blends of biofuel with conventional fuel.
The Global Biofuel Market Analysis estimates global production to grow at a CAGR of around 8% for ethanol and around 15.5% for biodiesel during 2010-2013, and says the Americas region — US, Brazil and Canada — has driven the global ethanol industry with around 90% of total global ethanol production while the EU is the leading biodiesel producer with around 60% of total global biodiesel production. However, the Asia Pacific region — Australia,
Thailand, Japan, India, China and Indonesia — has vast potential because of the availability of cheap feedstock, says the report, which also details government support, biofuel distribution issues and cost analysis.
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