The algae based biofuel has all the abilities to satisfy the ever-increasing demand for oil and gas. Presently, several government agencies and companies are funding the research and development activities to reduce the operating cost and capital involved in algae fuel production. The algae fuel would not only help to meet the oil and gas demands but also provide a clean source of energy. The increase in demand for oil coupled with the government regulations providing support to the development of biofuels can have a positive impact on the algae fuel market. Moreover, the volatility in supply and prices of crude resulting from geopolitical differences and varying demand from consumers further strengthens the possibility of using algae as a fuel.
The segmentation of the algae fuel market can be done on the basis ofthe type of fuel produced using algae, applications of the algae fuels and the geographical locations of the countries producing the algae fuels. The algae can be converted to various fuels, depending upon the part of cell and the technique used for the conversion. The algae can be used to produce biodiesel, bio-butanol, bio-gasoline, methane and jet fuel. The micro algae are capable of producing the huge amount of usable oil and biomass in the bio reactors and the algal ponds. The oil can be easily converted into biodiesel that can be used as a fuel in vehicles. The algae can be used to produce the bio-butanol using the solar powered bio-refinery. The biomass produced from the algae in the ponds and the bioreactors can be used to produce the bio-gasoline. The methane can be produced from the algae using the pyrolysis, gasification and anaerobic digestion. The algae fuel can be used to run vehicles and the by-products produced during processing of the micro algae can be used as antioxidants, natural dyes, pigments and bio-active compounds. The algae used for the production of the bio-fuels can be cultivated using photo-bioreactors, closed loop systems and open ponds.
Activities pertaining to the algae fuel development are primarily concentrated in countries such as the United States and Canada in North America; China, Japan, India, Australia and New Zealand in the Asia Pacific; the Netherlands, Germany and the United Kingdom in Europe and Israel in the Rest of world. If commercialized the algal fuel can prove to be of immense importance for oil importing nations such as India, China, Japan, and others. Increasing efforts to reduce the dependence on imported crude oil, increasing budgets for carrying on the research and development activities for finding alternative fuels are the major drivers for the algae fuel market.Moreover, increasing number of automobiles directly impacting demand for transportation fuels could further intensify the demand for alternative fuels including biofuels.
However, the utilization of algae to produce fuel is still in development stage and it could take a significant time to fully commercialize the production. Moreover, the recent slump in the crude oil prices makes it more favorable for vehicle owners to use crude oil instead of an alternative fuel. Algae fuel production is a very new technology with only few recognized market players that includes the companies such as Solazyme Inc., Chevron Corporation, Sapphire Energy, Inc.Algenol Biofuels and Imperium Renewables, Inc.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.