Global Algae Biofuel Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 – 2025

Published - Aug 2018 | Category - Energy and Power | No. of Pages - 117 | Published By - ARC

Introduction

The global algae market is predicted to bear a largely consolidated vendor landscape with three key players securing a colossal aggregate share. Algae biofuels are obtained from several algae species such as Chlorella species, Tetraselmis suecia Botryococcus braunii, Crypthecodinium cohnii, and Nitzschia species. The biofuel produced from algae can be used in the automotive sector while the by-products can be used as pigments, antioxidants, bioactive compounds, and natural dyes. Algae can produce various biofuels such bioethanol, biodiesel, methane, jet fuel, biobutanol, biogasoline, green diesel, and others. Global algae biofuel market is extremely competitive and is consolidated by the existence of various small and big players. Global algae biofuel market has been witnessing a healthy growth over the past few years owing to increasing fuel demand worldwide.

Market Drivers

Increased fuel demand worldwide has been the key factor for the growth of Global Algae Biofuel Market. Furthermore, demand for algae biofuel is expected to grow on account of the growing transportation industry. Additionally, the volatility of cost and supply of fossil fuels is anticipated to boost the market in coming years. The high manufacturing cost may hinder the market during the forecast period. However, major manufacturers are investing in R&D to reduce the operating cost.


 

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