A new wave of biodiesel will begin having a meaningful impact on world energy markets over the next several years, according to a recent report from Pike Research. The cleantech analyst firm anticipates that, spurred by innovations in feedstocks such as waste grease, algae, and jatropha, biodiesel revenues will increase to $71.0 billion worldwide by 2020, up from $18.4 billion in 2010.
“The biofuels market is currently at a point of discontinuity,” says
managing director Clint Wheelock. “The ethanol business has suffered a
significant blow over the past few years, yet the prospects remain very
bright for renewed growth in ethanol as well as next generation
biodiesel technologies.” Wheelock adds that new technology advances
and economies of scale will be a significant boon to the further growth
of biofuels markets.
In addition, Pike Research’s analysis finds that biodiesel has some
powerful backers. “Biogenetics is becoming a huge factor in the
evolution of the market,” says Wheelock, “and biofuels companies are
really leveraging the scientific knowledge base of genetic
engineering. Biotech companies will be some of the big beneficiaries
as the new breed of biofuels matures.”
Other key players, according to
the report, include the big oil companies, who have transitioned from
foe to friend over the past several years and are now some of the
leading bankrollers of biodiesel R&D and commercialization.
The report, “Biofuels Markets and Technologies”, examines key technologies that will drive the future of the industry to include second and third generation feedstocks and advanced biorefining techniques. The report also includes profiles of key players and comprehensive forecasts that quantify the potential for biodiesel and ethanol by country and region.
An Executive Summary of the report is available for free at the link below.
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