Next-Gen Biofuels Advance On The Market
Global Biofuels to Rise to 67 Billion Gallons in 2022 as Next-Generation Technologies Take Over; Advanced biofuels will nearly double in five years to 9.6 billion gallons per year as first-generation fuels like traditional biodiesel lose out to newer low-carbon fuels…
February 14, 2017 (Lux Research)
“New biofuel technology is finally starting to push aside traditional biofuels…[Overall output will grow] to 67 billion gallons a year (BGY) in 2022, from 59 BGY in 2016…The global biofuels industry will grow at a slower 2.2% annual rate to 67 BGY of nameplate capacity by 2022. First-generation biofuels, which hold a 91.5% market share, will continue to dominate but will lose nearly 6% of market share, as advanced biofuels see rapid growth, nearly doubling capacity to 9.6 BGY…Second-generation biodiesel makes up 65% of the 5.0 BGY advanced biofuel market today, but is projected to lose 26% market share by 2022 due to the rapid growth of low-carbon and high-performance drop-in biofuels such as renewable diesel…Emerging thermochemical and catalytic technologies will surpass bioconversion processes to make up over half of the new capacity deployment for the first time in the biofuel industry’s history…” click here for more
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