Abstract
Global demand to approach 90 million metric tons in 2011
Demand for biofuels will expand almost 20 percent per year through 2011 to 92
million metric tons, despite recent concerns about the impact of biofuels on
the environment and world food supplies. Market expansion will be led by a
more than doubling of the global market for bioethanol, with the biodiesel
market achieving even more rapid growth. Other biofuels will also achieve
double digit gains, though from a much smaller base.
Economic, environmental issues spur biofuel demand
The world market for biofuels has expanded rapidly in recent years as a
combination of domestic politics, rising oil prices, increasing concerns about
global warming, and potential economic opportunity have spurred a broad range
of countries to pass laws that support biofuel industries. World bioethanol
demand has benefitted from a powerful farm lobby in the United States that has
succeeded in passing a renewable fuel mandate, as well as rising oil prices
that have boosted bioethanol demand in Brazil. Growing concerns about global
warming have helped stimulate both bioethanol and biodiesel demand in the
European Union, while several countries in the Asia/Pacific region have
instituted biofuel programs as a means of boosting their local economies.
Though protective sentiments will remain high, global trade in biofuels will
continue to develop, as many countries in Western Europe, North America and
Asia/Pacific find that they cannot fully satisfy demand with domestic
production. Despite, or perhaps even because of, the success of biofuels in
recent years, questions have begun to arise about the wisdom of using biofuels
as an alternative energy source going forward. While the impact of biofuels on
world food supplies is expected to be a short term issue, the potential
negative impact of biofuels on the environment could have longer term
consequences. In spite of these concerns, though, countries' overarching need
for energy security and domestic economic development will continue to drive
rapid increases in consumption, most notably in the large North American
market.
Study coverage
It offers historical demand data plus forecasts for 2011 and 2016 by type and
application in 6 regions and 17 countries worldwide. In addition, the study
assesses key technologies, evaluates market shares and profiles 29 global
competitors.
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