The global advanced biofuel market is driven by factors such as supportive government regulations promoting the usage of second-generation biofuel in different end use sectors including manufacturing and energy sector, and growing concern regarding food sustainability of first-generation biofuel among stakeholders.
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Lack of awareness regarding benefits of second-generation biofuel in Asian countries has negatively affected the growth of the advanced biofuel market in this region.
On the basis of raw material, the advanced biofuel market has been divided into energy crops, municipal solid waste, green waste, and black liquor.
With rapid urbanization and industrialization, energy demand is growing exponentially in emerging economies. In coming years, introduction of government regulations supporting the usage of advanced biofuel as alternative of environmentally unsustainable fossil fuel is expected. Such regulations will create opportunity for the advanced biofuel market in emerging economies.
On the basis of both value and volume, North America held the largest share in the market in 2017. Regulations such as Farm Security and Rural Investment Act of 2014, Energy Policy Act of 2005 & Energy Independence and Security Act (EISA) of 2007, and California Low-Carbon Fuel Standard (LCFS) are promoting the usage of second-generation biofuel in the U.S.
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Some of the major players operating in the global advanced biofuel market are Abengoa Bioenergy, Algenol Biotech, A2BE Carbon Capture, LLC., Chemtex company, Bangchak Petroleum Plc., Clariant, DowDuPont Inc., Fujian Zhongde Energy Co., Ltd, and Inbicon A/S, GranBio.
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