Biotech Updates

Global Biofuel Demand Predicted to Increase by 2011

April 11, 2008
http://www.biofuels-news.com/news/world_demand_100mt.html

The Biofuels International website reports on a study of world biofuel outlook and trends, conducted by the industry research firm, The Freedonia Group. Some of the highlights are: (1) the annual increase in global biofuel demand is predicted to be about 20% per year and will reach about 92 million tons in 2011, (2) The Asia/Pacific region and western Europe will experience faster advances in the biofuel market. There will be “above average increases in small African and eastern European markets, while Latin America will continue to grow modestly due to Brazil’s already sizeable bioethanol market”, (3) In the European Union, the increase in biofuel demand is buoyed up by heightened concerns about global warming/climate change. In many Asia/Pacific countries, economic development seems to be the main driver for the institution of increasing biofuel development programs, (4) Due to efforts at reducing dependence on imported oil, and for economic reasons, the development of cereal based (corn, wheat) bioethanol feedstocks will continue to be favored. In Latin America, sugarcane remains the bioethanol source. For biodiesel, the major feedstocks are soybean in the Americas, rapeseed in Europe and palm oil/jatropha in Asia/Paficic countries, (4) Technologies for the production of cellulosic-ethanol and algae-biodiesel will be “commercially significant in the long term”..