Algae Biofuel Market

Algae Biofuel: Introduction

• The global quest for greener, renewable alternatives to biofuels has generated a significant interest in third-generation biofuels. Algae biofuel has emerged as a unique option, as it can overcome the drawbacks of crop-based biofuels of the second generation. Algae biofuel is derived from species such as Botryococcus braunii, Chlorella species, Crypthecodinium cohnii, and Nitzschia.
• Application of modern biochemical engineering processes has further created a robust technological framework for the same. Relentless research and industry efforts are being made to make the production of algae biofuel commercially and environmentally sustainable.
• Several attractive characteristics of algae biofuel account for the rapid evolution of the algae biofuel market. Promises of higher yield than several of the currently used crop-based biofuels, high energy content, rapid growth of the microorganism, and high biodegradability are the factors that make algae biofuel production viable. Various types of biofuels that can be obtained are bioethanol, biodiesel, methane, jet fuel, bio-butanol, green diesel, and bio-gasoline.

Algae Biofuel Market: Segments

• The global algae biofuel market can be segmented based on type, application, and region
• In terms of type, the global algae biofuel market can be divided into jet fuel, bioethanol, methane, biodiesel, bio-butanol, green diesel, bio-gasoline and others.

• Based on application, the global algae biofuel market can be classified into transportation, aerospace, and others

COVID-19 Impact on Algae Biofuel Market

• Emergence of the new COVID strain in many developed and developing countries has adversely affected the health care infrastructure. Hospital staff, medicines, oxygen beds, and ventilators are in short supply. Supply chains are facing disruptions, leading to disturbances in production activities in many countries. This is adversely affecting the algae biofuel market.

North America and Europe to Dominate Algae Biofuel Market

• In terms of geography, the global algae biofuel market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa
• North America and Europe are expected to be lucrative markets for algae biofuel. Various economies of Europe are witnessing burgeoning demand for renewable fuels for transportation.
• North America is a lucrative region, fueled by several government initiatives to support research in the commercial production of algae biofuels. Various start-up companies in the region have made a foray in the algae biofuel market.
• The algae biofuel market in Middle East & Africa is estimated to expand at a sluggish pace during the forecast period

Key Manufacturers Operating in Global Algae Biofuel  

• The global algae biofuel was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global algae biofuel market include:
  • Solix Biofuels
  • Reliance Life Sciences
  • Proviron
  • Origin Oils Inc
  • Sapphire Energy
  • Solazyme Inc
  • Blue Marble Production

Global Algae Biofuel Market: Research Scope

Global Algae Biofuel Market, by Type

• Jet Fuel
• Bioethanol
• Methane
• Biodiesel
• Bio-butanol
• Green Diesel
• Bio-gasoline
• Others

Global Algae Biofuel Market, by Application

• Transportation
• Aerospace
• Others

Global Algae Biofuel Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa