Global biofuels consumption to hit 135bn gallons by 2018

Aug 17, 2012 - Biofuels consumption will grow to 135 billion gallons (511 billion litres) globally by 2018, market research firm Global Industry Analysys projects in a recent report.

The report titled Biofuels (Bioethanol and Biodiesel): A Global Strategic Business Report notes that the global biofuel production has almost tripled since 2000, due to environmental concerns, limited fossil fuel resources, dependence on oil exporting countries, rise in energy prices as well as governmental support.

Next generation biofuels, including cellulosic ethanol, biomass to liquid (BTL) from solid biowaste, and renewable diesel, are under development, but are not expected to reach the commercialisation stage in the next eight to ten years due to technical obstacles.

The US is the largest biofuel consumer globally. It is also expected to replace Brazil as the leading ethanol exporter in the near term due to supply shortages and high prices for sugar in Brazil. Other large biofuel producing countries include Canada, some European Union countries, China and India. Asia-Pacific has the potential to grow at the fastest rate, of 28.8%, during the period under review thanks to the availability of cheap raw materials.

Choose your newsletter by Renewables Now. Join for free!