Published by Wanda Rich
Posted on September 7, 2021
Global Algae Biofuel Marketis valued atUSD 6245.3 Million in 2020and expected to reachUSD 10193.8 Million by 2027with aCAGR of 7.25%over the forecast period.
Global Algae Biofuel Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Rising use and production of renewable sources and growing concern about carbon emissions to drive the growth of Global Algae Biofuel Market.
Download Sample Report:@https://brandessenceresearch.com/requestSample/PostId/1603
Algae fuel, also known as algal biofuel or algal oil, is a liquid fossil fuel substitute that employs algae as a source of energy-rich oils. Algae fuels are a viable alternative to well-known biofuels like corn and sugarcane. Some algae species can produce up to 60% of their dry weight in the form of oil. Microalgae may produce enormous amounts of biomass and useable oil in either high rate algal ponds or photo bioreactors because the cells develop in aqueous suspension, where they have more efficient access to water, CO2, and dissolved nutrients. This oil can then be converted into biodiesel, which may subsequently be marketed for use in automobiles. Rural areas will profit financially from regional microalgae production and biofuel processing. Harder and Von Witsch were the first to propose growing microalgae as a source of lipids for food or fuel in 1942. Biodiesel, bio-butanol, bio-gasoline, biogas, methane, and ethanol are all types ofalgae biofuels. One major benefit of using algae for biofuels is that it does not need the use of cropland for food production. The global demand for algae biofuel is being strengthened by the development of innovative factors such as increased raw material development; increased final production volume of biofuels as well as other factors.
During the Covid-19 outbreak, the condition has impacted transportation and the utilization of algal biofuels. Projects regarding the manufacture of biofuels have been closed. The reduced transportation has negatively impacted the market growth of algae biofuels. However, in the post-covid period, the restart of industries and transportation brought the situation back to normal. As the climate situation worsens, the demand for clean and green energy sources may grow. Rising carbon emissions, the climate problem, and limited nonrenewable resources may drive the demand for algal biofuels in the coming future.
Global Algae Biofuel Market is segmented on the basis of type, application and region &country level. Based upon type, the market of algae biofuel is segmented into bioethanol, biodiesel, methane, bio-butanol, bio-gasoline, jet fuel, green diesel and others. Based on application, the global algae biofuel market is classified into aerospace, transportation and others.
By Type:
By Applications:
The regions covered in this global algae biofuel market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of global algae biofuel is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some major key players for global algae biofuel market report cover prominent player’s like Solazyme Inc., OriginOil Inc., Algae Production Systems, Proviron Industries nv’s, SabrTech Inc., AlgaEnergy, Algenol, Culture BioSystems, Genifuel Corporation, Reliance Industries Limited, Biofuels Digest, Cellana Inc., Blue Marble Production, Sapphire Energy, Solix Biofuels, and others.
Rising Use and Production of Renewable Sources and Growing Concern about Carbon Emissions are Some of the Major Factors Driving the Market Growth
Rising use and production of renewable sources may drive the market growth of global algae biofuel market. Microalgae biofuel production is commercially viable since it is less expensive than fossil fuels, does not require more land, improves air quality by absorbing CO2, and uses very little water. For instance; according to BioMed Research International; biodiesel production rates in Southeast Asian countries like Malaysia, Thailand, and Indonesia currently range from 70 to 250%. According to International Energy Agency; the algae-to-biofuels business has received more than $500 million in government investment from throughout the world. According to Frontiers Journal; Algal biomass production increased globally in 2016, reaching 32.67 Mt [fresh weight (FW)].
In addition, growing concerns about carbon emissions may also drive the growth of algae biofuel market. According to Algae Biomass Organization; when compared to petroleum fuels, algae-derived biofuel can lower CO2 emissions by 50 to 70% over their lifetime and has a similar Energy Return on Investment (EROI) as traditional petroleum. The system under consideration recycles nutrients, can process algal feeds containing up to 90% water, and the final product can be combined with refinery intermediates for refining into finished gasoline or diesel, resulting in significant energy savings throughout the process. Compared topetroleumfuels, algaebiofuel can cut carbon emissionsbyup to68%.
However, high capital investment in algae biomass and fuel production andtechnological challenges may hamper the market growth. In spite of that, increasing environmental awareness as well as limited nonrenewable energy sources can offer more opportunities for the further growth of the global algae biofuel market.
The global algae biofuel market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the global algae biofuel market within the forecast period owing to the increasing biomass production and high productivity rates in this region. For instance; according to U. S. Department of Energy, the most optimistic production scenario projected yearly average algal biomass and oil productivities of about 31 g/m2 per day with 50 percent dry weight oil content for the southwestern United States. Algae ponds with high productivity cost roughly 70% less than activated sludge, which is the most commonly used water treatment technology in the United States. This economic reduction, along with the urgent need for expanded and enhanced wastewater treatment in the United States, has resulted in a deal scenario.
Europe is expected to witness a second high growth rate in global algae biofuel market. Rising production of algae biofuel through various projects of government of Europe may drive the market growth of algae biofuel in this region. For instance; European Technology and Innovation Platform; by 2016, the Direct Ethanol from MicroAlgae initiative aimed to create bioethanol from microalgae using low-cost scalable photobioreactors at a cost of less than 0.40 per liter. The ALL Gas project (Industrial scale Demonstration of Sustainable Algae Culture for Biofuels Production)use wastewater and a patented “Light Enhancement Factor (LEF)” to boost raceway pond biomass yield. The leftover algaeweredigested with wastewater sediments to make biogas, which wasthen cleaned and utilized to power at least 200 vehicles.
North America
Europe
Asia Pacific
Latin America
This comprehensive report will provide:
Our Market Research Solution Provides You Answer to Below Mentioned Question:
Get Full Report: @https://brandessenceresearch.com/chemical-and-materials/algae-biofuel-market
About us: Brandessence Market Research and Consulting Pvt. Ltd.
Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals, and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations, and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London.
Contact us at: +44-2038074155 or mail us atsales@brandessenceresearch.com
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Global Algae Biofuel Marketis valued atUSD 6245.3 Million in 2020and expected to reachUSD 10193.8 Million by 2027with aCAGR of 7.25%over the forecast period.
Global Algae Biofuel Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Rising use and production of renewable sources and growing concern about carbon emissions to drive the growth of Global Algae Biofuel Market.
Download Sample Report:@https://brandessenceresearch.com/requestSample/PostId/1603
Algae fuel, also known as algal biofuel or algal oil, is a liquid fossil fuel substitute that employs algae as a source of energy-rich oils. Algae fuels are a viable alternative to well-known biofuels like corn and sugarcane. Some algae species can produce up to 60% of their dry weight in the form of oil. Microalgae may produce enormous amounts of biomass and useable oil in either high rate algal ponds or photo bioreactors because the cells develop in aqueous suspension, where they have more efficient access to water, CO2, and dissolved nutrients. This oil can then be converted into biodiesel, which may subsequently be marketed for use in automobiles. Rural areas will profit financially from regional microalgae production and biofuel processing. Harder and Von Witsch were the first to propose growing microalgae as a source of lipids for food or fuel in 1942. Biodiesel, bio-butanol, bio-gasoline, biogas, methane, and ethanol are all types ofalgae biofuels. One major benefit of using algae for biofuels is that it does not need the use of cropland for food production. The global demand for algae biofuel is being strengthened by the development of innovative factors such as increased raw material development; increased final production volume of biofuels as well as other factors.
During the Covid-19 outbreak, the condition has impacted transportation and the utilization of algal biofuels. Projects regarding the manufacture of biofuels have been closed. The reduced transportation has negatively impacted the market growth of algae biofuels. However, in the post-covid period, the restart of industries and transportation brought the situation back to normal. As the climate situation worsens, the demand for clean and green energy sources may grow. Rising carbon emissions, the climate problem, and limited nonrenewable resources may drive the demand for algal biofuels in the coming future.
Global Algae Biofuel Market is segmented on the basis of type, application and region &country level. Based upon type, the market of algae biofuel is segmented into bioethanol, biodiesel, methane, bio-butanol, bio-gasoline, jet fuel, green diesel and others. Based on application, the global algae biofuel market is classified into aerospace, transportation and others.
By Type:
By Applications:
The regions covered in this global algae biofuel market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of global algae biofuel is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some major key players for global algae biofuel market report cover prominent player’s like Solazyme Inc., OriginOil Inc., Algae Production Systems, Proviron Industries nv’s, SabrTech Inc., AlgaEnergy, Algenol, Culture BioSystems, Genifuel Corporation, Reliance Industries Limited, Biofuels Digest, Cellana Inc., Blue Marble Production, Sapphire Energy, Solix Biofuels, and others.
Rising Use and Production of Renewable Sources and Growing Concern about Carbon Emissions are Some of the Major Factors Driving the Market Growth
Rising use and production of renewable sources may drive the market growth of global algae biofuel market. Microalgae biofuel production is commercially viable since it is less expensive than fossil fuels, does not require more land, improves air quality by absorbing CO2, and uses very little water. For instance; according to BioMed Research International; biodiesel production rates in Southeast Asian countries like Malaysia, Thailand, and Indonesia currently range from 70 to 250%. According to International Energy Agency; the algae-to-biofuels business has received more than $500 million in government investment from throughout the world. According to Frontiers Journal; Algal biomass production increased globally in 2016, reaching 32.67 Mt [fresh weight (FW)].
In addition, growing concerns about carbon emissions may also drive the growth of algae biofuel market. According to Algae Biomass Organization; when compared to petroleum fuels, algae-derived biofuel can lower CO2 emissions by 50 to 70% over their lifetime and has a similar Energy Return on Investment (EROI) as traditional petroleum. The system under consideration recycles nutrients, can process algal feeds containing up to 90% water, and the final product can be combined with refinery intermediates for refining into finished gasoline or diesel, resulting in significant energy savings throughout the process. Compared topetroleumfuels, algaebiofuel can cut carbon emissionsbyup to68%.
However, high capital investment in algae biomass and fuel production andtechnological challenges may hamper the market growth. In spite of that, increasing environmental awareness as well as limited nonrenewable energy sources can offer more opportunities for the further growth of the global algae biofuel market.
The global algae biofuel market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the global algae biofuel market within the forecast period owing to the increasing biomass production and high productivity rates in this region. For instance; according to U. S. Department of Energy, the most optimistic production scenario projected yearly average algal biomass and oil productivities of about 31 g/m2 per day with 50 percent dry weight oil content for the southwestern United States. Algae ponds with high productivity cost roughly 70% less than activated sludge, which is the most commonly used water treatment technology in the United States. This economic reduction, along with the urgent need for expanded and enhanced wastewater treatment in the United States, has resulted in a deal scenario.
Europe is expected to witness a second high growth rate in global algae biofuel market. Rising production of algae biofuel through various projects of government of Europe may drive the market growth of algae biofuel in this region. For instance; European Technology and Innovation Platform; by 2016, the Direct Ethanol from MicroAlgae initiative aimed to create bioethanol from microalgae using low-cost scalable photobioreactors at a cost of less than 0.40 per liter. The ALL Gas project (Industrial scale Demonstration of Sustainable Algae Culture for Biofuels Production)use wastewater and a patented “Light Enhancement Factor (LEF)” to boost raceway pond biomass yield. The leftover algaeweredigested with wastewater sediments to make biogas, which wasthen cleaned and utilized to power at least 200 vehicles.
North America
Europe
Asia Pacific
Latin America
This comprehensive report will provide:
Our Market Research Solution Provides You Answer to Below Mentioned Question:
Get Full Report: @https://brandessenceresearch.com/chemical-and-materials/algae-biofuel-market
About us: Brandessence Market Research and Consulting Pvt. Ltd.
Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals, and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations, and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London.
Contact us at: +44-2038074155 or mail us atsales@brandessenceresearch.com
Top Trending Reports :
Meter Data Management System Market Statistics Report, 2021 | Global Industry Research on Growth and Opportunity in 2027
Holographic Display Market Forecast Over 2021-2027
Smart Transportation Market Size to hit USD 356.38 Billion by 2025 at CAGR 21.84%
At 8.17% CAGR, Biopharmaceutical Contract Manufacturing Market size is expected to reach USD 21.01 Billion by 2025
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