Portland, OR -- (SBWIRE) -- 02/22/2018 -- Second Generation Biofuels (Advanced Biofuels) Market is expected to garner $23.9 billion by 2020, registering a CAGR of 49.4% during the forecast period 2014 - 2020. Second generation biofuels yield more energy efficient output than conventional fossil fuels and are environment-friendly as well. Other enabling factors such as favourable environmental regulations & policies, investments/funds provided by the North American and European governments for R&D and commercialization of second generation biofuels, also drive growth of the second generation biofuels market.

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Based on biofuel types, the market is segmented into Cellulosic ethanol, Biodiesel, Biobutanol, BioDME and others. Currently, most of the second generation biofuels, such as Cellulosic ethanol, (algae-based) Biodiesel are in the initial stages of commercialization, whilst Biobutanol and BioDME are in the laboratory/pilot production phase. Attributed to usage of high yield feedstock (algae), coupled with high potential for reduction of GHG emissions, it is estimated that Biodiesel will garner the largest market share in terms of production (among the other types of second generation biofuels).

Geographically, the second generation biofuels market is segmented into North America, Europe, Asia-Pacific and LAMEA. Owing to favorable regulations and financial support from the governments of developed regions - North America and Europe, have garnered majority market share in 2013, however, this scenario would change by 2020.

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To leverage opportunities in the second generation biofuels market, many companies are setting up plants for production of such biofuels. Some of the key manufacturing companies profiled in the report are Algenol Biofuels, Abengoa bioenergy, POET-DSM, GranBio, INEOS Bio, Inbicon, Clariant, ZeaChem, DuPont Industrial Biosciences and Fiberight LLC.

Second Generation Biofuels Market or Advanced Biofuels Market Segmentation

MARKET BY FUEL TYPE

-Cellulosic ethanol
-Biodiesel
-Biobutanol
-BioDME
-Others

MARKET BY FEEDSTOCK TYPE

-Simple lignocellulose
-Syngas/biomass/MSW
-Algae
-Complex lignocellulose
-Others