New York City, NY -- (SBWIRE) -- 10/04/2016 -- Advanced biofuels, also known as second generation biofuels are the renewable fuels which are used as alternatives for gasoline and diesels with very low emission of the greenhouse gases. Advanced biofuels can be manufactured by using various types of biomass like, lignocellulose, non-corn starch & sugar. Advanced biofuels mostly uses the lignocellulose biomass for the production of biofuels. The increasing global consumption of energy is demanding for more renewable and sustainable sources of energy. Advanced biofuels being environment friendly will be adopted by people across the globe. It can be used in automotive as well as aviation fuel in the near future as a sustainable alternative to traditional fuels. There are very few numbers of advanced biofuel manufacturers and it is expected there would be more manufacturers over the forecast period. Huge investments are being made by companies in R&D to develop technologies to convert biomass into advanced biofuels. The global advanced biofuels market is foreseen to register a promising two digit CAGR over the period of forecast.

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The fossil fuels are declining and to balance the consumption of energy some alternative sources has to be there hence, advanced biofuels. The global advanced biofuels market is driven by the environment factor as advanced biofuels releases less concentration of greenhouse gases. The advanced biofuels being a sustainable and clean source of fuel these characteristics are expected to increase the market potential of global advanced biofuels market. The ease in the availability of raw materials, and the raw materials used being non-food and wastes will be a driver for the global advanced biofuels market. The governmental incentives supporting the development of technologies for producing advanced biofuels will also drive the market for advance biofuels globally. Since there are only few number of fully commercialized manufacturers of different types of advanced biofuels it provides opportunities for other new entrants in the global advanced biofuels market to enter in the market. The declining price of crude oil might pose as a restraint to the growth of advanced biofuels market still the environmental advantage of advanced biofuels over traditional fuel is expected to counter the restraint.

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