What is Algae Biofuel?
Biofuels are gaseous or liquid fuels produced from biomass resources and used as an alternative for petrol, diesel, and other fossil fuels. Biofuels produced from algae offer potential advantages such as high biomass productivity and the ability to grow in cultivation ponds using saline water sources. Production of renewable fuels such as algae biofuel decreases greenhouse gas emissions and provides energy security. Increasing government initiatives for promoting usage of biofuel expected to drive the demand for algae biofuel over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Algenol Biotech (United States), Algix LLC (United States), Corbion N.V. (Netherlands), Solazyme (United States), Diversified Energy Corporation (United States), Algae Floating Systems, Inc. (United States), Algae Fuel System (United States), Algoil Industries, Inc. (United States), Culture Fuels (United States) and Sapphire Energy (United States) |
CAGR | 6.6% |
The study covers a detailed analysis segmented by key business segments i.e. by type (Bioethanol, Biodiesel, Methane, Jet Fuel, Biobutanol, Biogasoline, Green Diesel and Others) , by application (Transportation and Others) and major geographies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Algae Biofuel market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Algae Biofuel market report suggests strategies that Manufacturers can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, some of them are Algenol Biotech (United States), Algix LLC (United States), Corbion N.V. (Netherlands), Solazyme (United States), Diversified Energy Corporation (United States), Algae Floating Systems, Inc. (United States), Algae Fuel System (United States), Algoil Industries, Inc. (United States), Culture Fuels (United States) and Sapphire Energy (United States).
Market Overview:
In
“The Renewable Energy Directive (RED) mandates that 20% of all energy usage in the EU, including at least 10% of all energy in road transport fuels, be produced from renewable sources by 2020. Alongside the RED, an amended Fuel Quality Directive (FQD) requires the road transport fuel mix in the EU to be 6% less carbon-intensive than a fossil diesel and gasoline baseline by 2020.”
The number of players are present in the market hence the fragmented nature of the market. Market players are focusing on the technological developments for the use of algae in energy production. In addition. Increasing demand from the emerging economies expected to generate lucrative opportunities for the companies involved in the algae biofuel production.
Influencing Trend:
Growing Research and Development in the Algaculture and Emphasizing On Reducing Production Cost of Algae Biofuel
Market Growth Drivers:
Rising Demand for Alternate Liquid Fuel Resources and Increasing Demand for Fuel with Less Greenhouse Gas Emission
Challenges:
Lack of Awareness about Algae Biofuel in the Emerging Economies and Impact of Climatic Conditions on the Production of Algae
Restraints:
Stringent Government Regulation Regarding Use of Algae and High Processing Cost Associated With Algae Products
Opportunities:
Increasing Fuel Demand Worldwide and Rising Demand from the Emerging Economies for Energy Production
Key highlights of the Global Algae Biofuel market Study:
CAGR of the market during the forecast period 2023-2030
In-depth information on growth factors that will accelerate the Algae Biofuel market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Algae Biofuel market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of Algae Biofuel Manufacturers
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Algae Biofuel market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Algae Biofuel market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Algae Biofuel Manufacturers, Potential Investors, Government and Research Organizations, Trade Associations and Industry Bodies, Research Organizations, and Consulting Firms and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.