Albany, NY -- (SBWIRE) -- 02/16/2016 -- Biofuels is a class of fuels whose energy is derived biologically from carbon fixation. They are derived from various conversion procedures from solid biomass, liquid fuels and various gases. Liquid produced from various oil-rich crops and are grown in many regions across the globe. With the growing demand for energy across the globe, the biofuels market is witnessing large amounts of investments to ensure a permanent source of clean energy. There has been a tremendous increase in the demand for biofuels since they are naturally derived and can replace non-renewable resources.

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Biofuels are used in various applications such as automotive, marine, railway and heating oil (boiler fuel). Hence, increasing demand from these applications is likely to drive the production of biofuels, especially in the U.S. Also increased awareness amongst the population and the rise in population has lead to a steady growth in the market for biofuels over the years. Moreover large amounts of investments in the biofuels market in order to ensure a permanent source of clean energy is also boosting the growth of this market.

One of the important factors boosting the growth of the biofuels market is that they are derived from biological processes and are eco-friendly in nature and can be manufactured from any oil-rich crop like sunflower, oil palm and soy which can be grown in all the regions around the world.

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The initial surge of biofuels in industries was driven by rising fossil fuel prices and energy security. Also market forces alone were not sufficient enough to drive the process which required heavy policy support (mandates, tariffs for imports and subsidies) targeting few domestic-based feedstocks (corn, soybeans, rapeseed); as a result research and development of new feedstocks to support future biofuel expansion took off. Yet the anticipated large gap between future demand and potential domestic supply in the North required expanding biofuel production in developing countries.

Geographically, North America has the largest market share due to the increased awareness amongst the population and stringent environmental regulatory policies. Europe is also experiencing steady growth. Developing economies like China, India, and Russia are also experiencing steady growth and it is expected to increase substantially for the next six years. Liquid not only used in transport, but are also used in commercial heating processes. They can significantly help in reducing carbon emissions and can be a key renewable energy source. With new environmental regulations, stringent government policies, and depleting natural resources, the demand for biofuels is likely to increase.

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Biofuels, being the direct substitute for fossil fuels, continue to grow in importance irrespective of a significant slowdown in investment. The current production technologies will soon face the limits of resource availability, with an important question left to us regarding the ability to meet the incorporation targets for 2020, especially in USA and Europe. Therefore the current markets are expected to maintain their current levels while waiting for the emergence of new biofuels technologies from 2015 onwards.

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