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Algae Biofuel Market:Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2024


Sarasota, FL -- (SBWIRE) -- 05/17/2018 -- Global Algae Bio-fuel Market: Overview

Algae biofuel is an alternative to liquid fossil fuels, generated by specific algae species from carbon dioxide. It is found everywhere within the biosphere and generates large amount of oxygen in the earth's atmosphere. It also forms large quantity of organic carbon in the form of coal and petroleum. Unlike fossil fuel, algae biofuel and other biofuels only release CO2 via photosynthesis as the algae or plant grew. Algae biofuels act as renewable alternatives to fossil fuels and other biofuel sources such as sugarcane, sorghum, beet root, and corn. Algae's role in the development of the earth's biosphere is of unique importance.

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Global Algae Bio-fuel Market: Growth Factor

Algae biofuel market is now in growing phase due to increasing demand for fuels, growing regulatory policies and government support, the volatility and the supply of fossil fuels, accelerating transportation services. The other environmental benefits of algae biofuel also serves to drive the market.

However, there are some restraining factors which may affect the growth of the market like high production cost which is major challenge for algal biofuel market. Also, the withdrawal of the major algae biofuel commercial project hasrestrained the growth of the market.

As The global algae biofuel market is expected to witness high growth, as many market players and government are interested to invest in research and development activities to reduce the operating cost.

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Global Algae Bio-fuelMarket: Segmentation

The Algae biofuel market is segmented by type of biofuel produced by algae and by its application. On the basis of types of biofuel, the algae market is classified into bioethanol, biodiesel, methane, jet fuel, biobutanol, biogasoline, green diesel and some others. Some of the applications of algae biofuel market include transportation,aerospace and others.

Global Algae Biofuel Market: Regional Analysis

Geographically, North America holds the largest share in the algae biofuel market owing to favorable government policies toward renewable resources such as alga biofuel.In theUS, the growing use of gasoline for various applications such as sports vehicles, small aircraft, electricity generators, and cars is accelerating the demand for the market. Moreover, the US department of energy is more interested into investment. Europe has significant demand for algae biofuel especially in the biodiesel applications. Due to increasing transportation industry and increasing government initiative in producing alternative biofuel there is profitable growth of algae biofuel market in Asia Pacific. In Latin America and Middle East, the demand for fossil fuels is accumulating due to growing industrialization and automobile industry. The Middle East has a huge potential for algae production as there is desirable condition for the production of algae biofuel such a presence of extensive coastline, favorable climate condition and large number of power plants.

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Global Algae Biofuel Market: Competative player

Some of the key players in the market include Algenol biofuels, Blue Marble Production, Solazyme, Sapphire Energy, Diversified technologies Inc. Origin Oils Inc. Proviron, Genifuels, Qeshmmicrolage Biorefinery Co.(QMAB), among others.

Global Algae Biofuel Market: Regional Segment Analysis

North America
The U.S.
The UK
The Asia Pacific
Latin America
The Middle East and Africa

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