Global Advanced Biofuels Market: Overview
Advanced biofuels, also known as second-generation biofuels, can be produced from different types of non-food biomass. Non-food biomass encompasses waste materials from animals or plants, which are not used for food or feed, which is often used in horticulture of farming, animal farming, food processing or human waste, used especially as a source of fuel. The first generation biofuels were produced from vegetable oils and sugars found in crops using established processing technologies. Advanced biofuels are made from various raw material and hence, require different technology for extraction.
Advanced biofuels are primarily considered in reaction to the food versus fuel debate. The first generation biofuels were made from edible feedstock, while the second generation uses non-edible feedstock. This advanced biofuels is a key substitute to be considered in the national policy in the next few years. It is one of the renewable energy alternatives having great potential to help minimize the amount of gaseous carbon elements released by transportation and other systems in developing countries. Advanced biofuels subsequently relates to number of sustainable development goals (SDGs) and national commitments to limit climate change to acceptable levels.
Global Advanced Biofuels Market: Key Segments
The global advanced biofuels market can be segmented based on process, type, raw material, and region. In terms of process, the advanced biofuels market can be bifurcated into biochemical and thermochemical. The biochemically produces petroleum gasoline substitutes of butanol or ethanol by enzymatic hydrolysis. The thermochemically produced petroleum gasoline substitute’s methanol, fischer-tropsch gasoline, and mixed alcohols. Based on type, the advanced biofuels market can be classified into cellulosic biofuel, biodiesel, biogas, and others. The cellulosic biofuel is produced from cellulose, which are stringy fibers of plants, grass, wood, algae, etc. The second generation biodiesel uses of bio feedstock, which significantly reduces carbon dioxide emission.
In terms of raw material, the advanced biofuels market can be divided into lignocellulose, jatropha, camelina, algae, and others. The lignocelluloses is a secondary plant biomass that comprised of lignin and cellulose. It can be processed into ethanol, as it contains hydrogen, oxygen, and carbon. Jatropha is drought resistant, contains few pests, and generates seeds that contain 27% to 40% oil. Camelina is a type of flowering plant that produces seeds that are rich in oil and can be used to produce the same quantity of biofuel as Jatropha. Algae produces lipid, is an oil that can be converted into various different fuels such as ethanol, butanol, methanol, biodiesel, jet fuel, and butanol. It can yield up to 300 times extra oil per acre than other conventional crops and has a harvesting cycle of 1 to 10 days, as it grows to nearly 30 times quicker than other feedstock.
Global Advanced Biofuels Market: Regional Analysis
Based on region, the global advanced biofuels market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America is expected to account for a major share of the advanced biofuels market during the forecast period, followed by Asia Pacific and Europe. The advanced biofuels market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period.
Global Advanced Biofuels Market: Key Players
Key players operating in the global advanced biofuels market include Algenol, Bangchak Corporation Public Company Limited, Green Biologics Limited, LanzaTech, Novozymes, DuPont, Sundrop Fuels, Inc., Fujian Zhongde Energy Co., Ltd., and China Petroleum & Chemical Corporation.
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