Global biofuels market to touch 50,921.4M gallons by 2019

Biofuels production is expected to reach 50,921.4 million gallons by 2019, growing at a CAGR of 9.6% from 2013 to 2019, according to a new report published by Transparency Market Research. The production was 24,326.7 million gallons in 2012.

The biofuels market is witnessing lots of investments to ensure as a permanent source of clean energy. The demand increased since they are naturally derived and can replace non-renewable resources.

The global market for biofuels is experiencing a steady growth due to the rise in population and the increased awareness. North America owns the largest market share due to strict environmental regulatory policies. Europe is also experiencing steady growth. China, India, and Russia are expected to grow substantially for the next six years.

Biofuel is used in commercial heating processes also. They can help in reducing carbon emissions. With new environmental regulations and depleting natural resources the demand for biofuels is likely to increase.

Following is the analysis and forecasting of global biofuels market by fuel type, form analysis and regions. By fuel type, biofuels market includes two components, bioethanol and biodiesel.  By form analysis, the report has classified biofuel market into solid (fuel pellets, biochar, biocoal), liquid (bioethanol and biodiesel) and gaseous (biogas, biopropane, syngas) states. The regional analysis includes following countries North America, Europe, Asia Pacific and RoW.

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