Second Generation Biofuels Market is Expected to Reach $23.9 Billion, Global, by 2020
Second Generation Biofuels or Advanced Biofuels Market report by Allied Market Research. The study estimatedthat the marketwould reach $23.9 billion by 2020, registering a CAGR of 49.4% during 2014 - 2020. Currently, Biodiesel garners the largest market share; however, the latest and the most commercially viable Cellulosic ethanol would surpass Biodiesel and eventually lead the market by 2020.North America generated largest revenue, as it has over 50% of the globally installed capacity base. Access Full Summary at:https://www.alliedmarketresearch.com/second-generation-biofuels-market Second generation biofuels are developed to overcome the limitations associated with traditional biofuels. Production of traditional biofuels faces barriers such as threat to biodiversity and food versus fuel issues. On the other hand, second generation biofuels are produced from a range of non-food crops and waste biomass. Also, second generation biofuel production is more energy efficient than the conventional fossil fuels. Such biofuels minimize greenhouse gas (GHG) emissions by over 90%; thus, are more environment-friendly.
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