Pike Research releases report on biofuels markets and technologies

Pike Research released a report entitled, “Biofuels Markets and Technologies,” which provides an in-depth analysis of opportunities in ethanol and biodiesel, as well as an evaluation of the challenges that the biofuels industry faces. According to the report, the global biofuels industry is facing a new era marked by feedstock flexibility, product neutrality and sustainability. After experiencing a healthy growth during the past decade, the biofuels industry has proven that biofuels are a viable alternative to petroleum-based fuels. By meeting growing demand in ground, aviation and maritime transportation fuel markets, biofuels could radically change the fuel market landscape in the near future. Pike Research forecasts that the global market for biofuels will increase from US$82.7 billion in 2011 to US$185.37 billion by 2021. Steady growth is expected through 2016, but the research firm expects robust growth between 2017 and 2021 because of higher oil prices, more mandated obligations, the availability of new feedstock, and the development of new technologies which will lead to increased investments in the industry. By 2021, the research firm believes that ethanol production will continue to be dominant and reach 49.5 billion gallons per year. (February 17, 2012)