The
algae based biofuel has all the abilities to satisfy the
ever-increasing demand for oil and gas. Presently, several government
agencies and companies are funding the research and development
activities to reduce the operating cost and capital involved in algae
fuel production. The algae fuel would not only help to meet the oil
and gas demands but also provide a clean source of energy. The
increase in demand for oil coupled with the government regulations
providing support to the development of biofuels can have a positive
impact on the algae fuel market. Moreover, the volatility in supply
and prices of crude resulting from geopolitical differences and
varying demand from consumers further strengthens the possibility of
using algae as a fuel.
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The
segmentation of the algae fuel market can be done on the basis ofthe
type of fuel produced using algae, applications of the algae fuels
and the geographical locations of the countries producing the algae
fuels. The algae can be converted to various fuels, depending upon
the part of cell and the technique used for the conversion. The algae
can be used to produce biodiesel, bio-butanol, bio-gasoline, methane
and jet fuel. The micro algae are capable of producing the huge
amount of usable oil and biomass in the bio reactors and the algal
ponds. The oil can be easily converted into biodiesel that can be
used as a fuel in vehicles. The algae can be used to produce the
bio-butanol using the solar powered bio-refinery. The biomass
produced from the algae in the ponds and the bioreactors can be used
to produce the bio-gasoline. The methane can be produced from the
algae using the pyrolysis, gasification and anaerobic digestion. The
algae fuel can be used to run vehicles and the by-products produced
during processing of the micro algae can be used as antioxidants,
natural dyes, pigments and bio-active compounds. The algae used for
the production of the bio-fuels can be cultivated using
photo-bioreactors, closed loop systems and open ponds.
Activities
pertaining to the algae fuel development are primarily concentrated
in countries such as the United States and Canada in North America;
China, Japan, India, Australia and New Zealand in the Asia Pacific;
the Netherlands, Germany and the United Kingdom in Europe and Israel
in the Rest of world. If commercialized the algal fuel can prove to
be of immense importance for oil importing nations such as India,
China, Japan, and others. Increasing efforts to reduce the dependence
on imported crude oil, increasing budgets for carrying on the
research and development activities for finding alternative fuels are
the major drivers for the algae fuel market.Moreover, increasing
number of automobiles directly impacting demand for transportation
fuels could further intensify the demand for alternative fuels
including biofuels.
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However,
the utilization of algae to produce fuel is still in development
stage and it could take a significant time to fully commercialize the
production. Moreover, the recent slump in the crude oil prices makes
it more favorable for vehicle owners to use crude oil instead of an
alternative fuel. Algae fuel production is a very new technology with
only few recognized market players that includes the companies such
as Solazyme Inc., Chevron Corporation, Sapphire Energy, Inc.Algenol
Biofuels and Imperium Renewables, Inc.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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growth drivers, and restraints. It provides market projections for
the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
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