Advanced Biofuel Market Analysis| Coherent Market Insights

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2. ADVANCED BIOFUEL MARKET ANALYSIS Advanced Biofuel Market,byFuel Type (Cellulosic Ethanol, Biofuel, Biobutanol, BioDME, and others), by Raw Material (Jatropha, Camelina, Algae, Simple Lignocellulose, Complex Lignocellulose, and Others) by Process Type (Biochemical Process and Thermochemical Process), and by Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

3. Market Insights • Advanced biofuels are fuels manufactured from various type of biomass, which includes waste from agricultural, urban, and other wastes.Italso known as second-generation biofuels.Thesebiofuels are made from woody crops or lignocellulosic biomass, sugars,non-starch,andagricultural residues,whichmakes it harder to extract the required fuel.Thesecond-generation biofuel is developed to overcome the limitations of high freezing temperatures and negative environmental effect of first-generation fuels (such as vegetable oil,biodiesel, bioalcohols,biogas,andsyngas) and they can supply large amount of global fuel sustainably,whichis affordable with higher environmental benefits.Accordingto the California Air Resources Board (CARB),liquid biofuels are manufactured from non-petroleum sources and can reduce carbon intensity as compared to a petroleum fuel baseline.Growingmarket for renewable energy,governmentsupport, and increasing investments in second generation biofuels are some of the driving factors for the growth of advanced biofuels market.ForInstance,theAustralian Government launch Advanced Biofuels Investment Readiness (ABIR) program by investing US$ 10 million which supported the development of advanced biofuels and provided funds to various universities such as James Cook University for its high-energy algal fuels project.

4. Advanced biofuels are classified on the basis of raw materials such as jatropha, camelina, algae, simple lignocellulose, complex lignocellulose, and others. Advanced fuel produced from algae raw material accounted for the largest market share due to its oil content. This plant grows on wasteland and can be grown using ocean and wastewater. Algae-based biofuels are relatively less harmful to the environment if spilled and are biodegradable in nature. Furthermore, the growth rate of algae is 20 times faster as compared to other raw materials such as jatropha. Advanced biofuels are also classified on the basis of fuel types such as cellulosic ethanol, biodiesel, biobutanol, bioDME, and others. Biodiesel fuel type segment holds the largest revenue share in the global advanced biofuel market. This growth is attributed to increasing use of biofuels as engine fuel.

5. Regional Analysis • North America is the most dominant region in global advanced biofuel market in terms of revenue and was valued at US$ 3.010 billion in 2016, owing to increasing demand for cleaner burning transportation fuels. According to Environmental Entrepreneurs (E2), the national nonpartisan business group, the production capacity of advanced biofuel in North America was more than 800 gallons in 2014. Various regulations such as California’s Low Carbon Fuel Standard and Renewable Fuel Standard are the key drivers for investment in advanced biofuels. The purpose of these regulations is to reduce emissions of GHG (greenhouse gases) and to implement low carbon fuel standard.

6. Europe is the second largest region in global advanced biofuels market. In Europe, the advanced biofuel market is driven by high R&D&D (research & development & demonstration) activities in EU indicating the potential growth of market for applications in marine, shipping, and air transport. The industrial initiatives such as European Industrial Bioenergy Initiative aims to have their first commercial plants by 2020 in operation. The objective of this initiative is to meet around 4% of EU transport energy need, with a focus on advanced biofuels. • Asia Pacific is the fastest growing region in terms of value in the global advanced biofuel market. Asia Pacific was valued at US$ 1.655 Billion in 2016. This is attributed to the increasing manufacturing industry and growing awareness about the usage of advanced biofuels in emerging economies such as India, China, and Indonesia. In Australia, the advanced biofuels sector was supported by the Australian Renewable Energy Agency (ARENA). • The advanced biofuel market was valued at US$ 8.880 Billion in 2016 globally and is expected to expand at a CAGR of 41.18%, in terms of revenue, during 2017 – 2025.

7. Competitive Section Some of the key players in global advanced biofuels market include Abengoa Bioenergy, S.A., A2BE Carbon Capture, LLC, Algenol Biofuels, Chemtex group, Bankchak Petroleum, ClariantProdukte GmbH, Fiberight LLC, DuPont Industrial Biosciences, Fujian Zhongde Energy Co., Ltd, Inbicon, GranBio, INEOS Bio, POET-DSM Advanced Biofuels LLC, KiOR Inc., ZeaChem Inc., and Sundrop Fuels, Inc.

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