Dallas, Texas, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Algae has the potential to provide 2 to 20 times the output of conventional biofuel feedstock such as corn, corn stover, sorghum, and beet, which is anticipated to open up new pathways for industry expansion throughout the forecast period. Increased R&D by several startup businesses, as well as different oil and gas giants, and university-led research consortiums, is predicted to accelerate output throughout the forecast period. However, technological hurdles, as well as expensive capital expenditure in algae biomass and fuel production, are likely to hinder industry expansion.
The fast growth of the algae biofuel Market can be attributed to several appealing qualities of algae biofuel. Higher yields than some presently utilized crop-based biofuels, high energy content, fast microorganism growth, and high biodegradability are the elements that make algae biofuel manufacturing practical. Bioethanol, methane, biodiesel, jet fuel, green diesel, bio-butanol, and bio-gasoline are some of the biofuels that may be obtained.
Major Algae Biofuel Market Manufacturers
Reliance Life Sciences
Sapphire Energy
Culture Biosystems
Solix Biofuels
Origin Oils
Solazyme
Proviron
Blue Marble Production
Algenol
Genifuels Algae Systems
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Algae Biofuel Market Types
Bioethanol
Biodiesel
Methane
Jet Fuel
Biobutanol
Biogasoline
Green Diesel
Algae Biofuel Market Applications
Automotive and Transportation
Aerospace and Defense
Third-generation biofuels are gaining popularity as a result of the global search for greener, renewable alternatives to biofuels. Algae biofuel has evolved as a separate alternative, surpassing the limits of second-generation crop-based biofuels. Chlorella species, Botryococcus braunii, Crypthecodinium cohnii, and Nitzschia algae are used to produce biofuel. The use of contemporary biochemical engineering techniques has also resulted in the formation of a robust technological foundation for the same. Continuous research and industrial efforts are being undertaken to make algae biofuel production economically and ecologically viable.
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The high potential of algae to create biodiesel, bioethanol, hydrocarbons, and drop-in biofuels along with manufacturer attempt to market the product are projected to offer new paths for the sector. Over the last decade, the algae sector has struggled to maintain its position in the biofuel market; moreover, the decommissioning of significant algae biofuel commercial projects has stifled industry development. However, once the producers are able to overcome the major hurdles connected with raw material manufacturing, capital cost, and production quantities, the product has the potential to see huge growth.
The introduction of biofuel requirements around the world is likely to push manufacturers to invest more in R&D to create sustainable algae fuel production technologies during the prediction period. The United States produced roughly 1.14 billion gallons of biofuel in 2016 using a range of feedstock, including recycled seeds and animal fats. The great potential of algae to replace traditional biofuel raw material sources, together with regulations imposed by the US government, is predicted to create new avenues for product growth, which will be embraced by other areas throughout the projected time.
There are countless start-up firms all around the world. Because of the region's strong government backing and minimal technological obstacles, the bulk of these players are based in North America. In order to decrease their dependency on raw material suppliers, companies in the sector must be integrated across the value chain. Furthermore, the sector is anticipated to anticipate alliances and partnerships among producers in order to create big volumes of the product while maintaining competitive pricing.
The global algae biofuel market is segmented into segments such as application, product type, and regional scenario. On the provincial front, developed countries, such as North America and Europe, are likely to become increasingly profitable markets for green growth biofuels. It is worth noting that many European economies are experiencing an increase in interest in inexhaustible energizes for transportation. North America is another potentially profitable region, spurred by a few government initiatives to aid investigate the commercialization of green growth biofuels. In addition, several new firms in the district have attacked the Algae Biofuel display and are looking at new sources of revenue in the not-too-distant future.
Table Of Contents
1. Introduction
1.1. Introduction
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions, and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
2. Research Methodology
2.1. Introduction
2.2. Data Capture Sources
2.3. Market Size Estimation
2.4. Market Forecast
2.5. Data Triangulation
2.6. Assumptions and Limitations
3. Market Outlook
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. Porter’s Five Forces Analysis
3.4. PEST Analysis
4. Algae Biofuel Market by Type, 2018-2028 (USD Billion)
4.1. Bioethanol
4.2. Biodiesel
4.3. Biogasoline
4.4. Methane
4.5. Jet Fuel
4.6. Biobutanol
4.7. Green Diesel
4.8. Others
5. Algae Biofuel Market by Application, 2018-2028 (USD Billion)
5.1. Automotive and Transportation
5.2. Aerospace and Defense
5.3. Others……continued
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