Biofuels industry to triple in size by 2020
The biofuels market will reach $247 billion in sales by 2020 according to a report from clean technology consultancy firm Pike Research.
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"The economics of ethanol and biodiesel are not yet competitive with petro fuels, and although governments have pulled back some of their support,γin the 10 to 15 year timeframe, the outlook remains very positive," says Clint Wheelock, managing director of Pike Research.γ
The report predicts the combined biodiesel and ethanol markets will more than triple in sales by 2020, up from just $76 billion in 2010 driven by three key waves of next generation biodiesel. Fuels based on waste greases will hit the market first in 2010,γJatropha-based fuels will begin having a significant impact in 2014, and algae-based biodiesel is expected to be commercially available in 2012 and deepening in 2016.
The report examines the key technologies that will drive the biofuels industry to include second and third generation feedstocks and advanced biorefining techniques.γ
This bullish sentiment is echoed throughout the biofuels market and will be driven by three key factors according to Dave Neubauer, vice president and general manager of US power producer Tenaska BioFuels. "Firstly the price of crude oil - if those prices aren't strong, then biofuels will have a tough time competing. Secondly, the legislative climate and the introduction of a renewables fuels standard in US will continue to push biofuels even if it isn't competitive with crude oil; and the third factor will be capital markets and providing enough funds to support the growth of the industry. If all these are favourable then we could see worldwide growth figures like $247 billion," he says.
http://www.energyrisk.com/public/showPage.html?page=867791 August 2009
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Categories: Biodiesel,Alternative Energy,Investing
Tags: jatropha green diesel biofuel investment Biodiesel Alternative Energy jatropha world costa rica costa rica seed company Investing
I don't think that by 2012 the algea industry will be anywhere...the only way to make the algea industry more viable is to move the Earth closer to the Sun. We are very far away from this be real in the near future.
Groe A .Weallwin.
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One major thing we should appreciate is the availability of feedstock especially from Africa and Latin America,the outlook may be a little bit too optimistic but the demand for energy is growing at an alarming rate. we need to look beyond the fosils to get to the promised land, therefore the future is bright no matter what.
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