Algae biofuels market on the up
With its ability to be utilised in a number of different biofuels applications including algal oil, biodiesel, aviation biofuel, ethanol, butanol and biomethane, the Algae Biofuels Production Technologies Worldwide reported that company involvement in the algae biofuels industry increased by 550% between 2005 and 2007.
The driving force behind this boom was environmental concerns coupled with the high costs of petrol. However following the financial crisis, interest in algae biofuels still remains.
The market for algae biofuels production technologies is diverse and can be divided into separate categories of production technologies, including cultivation technologies, harvesting and extraction technologies and algae biofuels production facilities. Through 2015 it is the sales of cultivation technology that has been estimated to hold the majority of the algae biofuels production technologies market.
The remaining market segments will be held by a combination of harvesting and extraction and fuels production facilities for a total projected market value of over $1.6 billion (€1.1 billion) in 2015. This is a significant increase compared to the $271 million market size estimated for 2010. It is thought that in five years’ time emerging algae biofuels production technologies will garner up to approximately one-third of the total market.
Source: Report Buyer
The driving force behind this boom was environmental concerns coupled with the high costs of petrol. However following the financial crisis, interest in algae biofuels still remains.
The market for algae biofuels production technologies is diverse and can be divided into separate categories of production technologies, including cultivation technologies, harvesting and extraction technologies and algae biofuels production facilities. Through 2015 it is the sales of cultivation technology that has been estimated to hold the majority of the algae biofuels production technologies market.
The remaining market segments will be held by a combination of harvesting and extraction and fuels production facilities for a total projected market value of over $1.6 billion (€1.1 billion) in 2015. This is a significant increase compared to the $271 million market size estimated for 2010. It is thought that in five years’ time emerging algae biofuels production technologies will garner up to approximately one-third of the total market.
Source: Report Buyer
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