Global Algae Biofuel Market Overview:
Biofuels are gaseous or liquid fuels produced from biomass resources and used as an alternative for petrol, diesel, and other fossil fuels. Biofuels produced from algae offer potential advantages such as high biomass productivity and the ability to grow in cultivation ponds using saline water sources. Production of renewable fuels such as algae biofuel decreases greenhouse gas emissions and provides energy security. Increasing government initiatives for promoting usage of biofuel expected to drive the demand for algae biofuel over the forecasted period.
- Rising Demand for Alternate Liquid Fuel Resources
- Increasing Demand for Fuel with Less Greenhouse Gas Emission
- Growing Research and Development in the Algaculture
- Emphasizing On Reducing Production Cost of Algae Biofuel
- Stringent Government Regulation Regarding Use of Algae
- High Processing Cost Associated With Algae Products
- Increasing Fuel Demand Worldwide
- Rising Demand from the Emerging Economies for Energy Production
- Lack of Awareness about Algae Biofuel in the Emerging Economies
- Impact of Climatic Conditions on the Production of Algae
The number of players are present in the market hence the fragmented nature of the market. Market players are focusing on the technological developments for the use of algae in energy production. In addition. Increasing demand from the emerging economies expected to generate lucrative opportunities for the companies involved in the algae biofuel production.
Some of the key players profiled in the report are Algenol Biotech (United States), Algix LLC (United States), Corbion N.V. (Netherlands), Solazyme (United States), Diversified Energy Corporation (United States), Algae Floating Systems, Inc. (United States), Algae Fuel System (United States), Algoil Industries, Inc. (United States), Culture Fuels (United States) and Sapphire Energy (United States). Additionally, following companies can also be profiled that are part of our coverage like Cellana, Inc. (United States), Euglena Co Ltd (Japan) and Alpha Biotech (United Kingdom). Analyst at AdvanceMarketAnalytics see United States Manufacturers to retain maximum share of Global Algae Biofuel market by 2024.
5th March 2019, Chemical engineers at the University of Utah in the United States have developed a jet mixer to extract lipids in less time with low energy consumption to deliver algal biofuel in large amounts.
“The Renewable Energy Directive (RED) mandates that 20% of all energy usage in the EU, including at least 10% of all energy in road transport fuels, be produced from renewable sources by 2020. Alongside the RED, an amended Fuel Quality Directive (FQD) requires the road transport fuel mix in the EU to be 6% less carbon-intensive than a fossil diesel and gasoline baseline by 2020.”
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Algae Biofuel market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Algae Biofuel market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Algae Biofuel Manufacturers, Potential Investors, Government and Research Organizations, Trade Associations and Industry Bodies, Research Organizations, and Consulting Firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.