Global Biofuels Market Report with focus on first generation solid, liquid and gaseous biofuels, applications such as transportation, heating and electricity generation.
Global biofuels market for first generation biofuels is an established billion dollar industry. Factors such as depleting fossil fuels and increasing energy demand, policy mandates and climate change mitigation among others are key indicators driving the growth of the market. It is anticipated that population will grow in the Asia Pacific and African regions at a faster rate coupled with rapid urbanization. Currently, urban population accounts for 54% in 2015 globally which is expected to reach approximately 58% in 2025. This single fact clearly indicates that that there will be an increase in the energy demand, which will eventually drive the demand for biofuels.
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