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World Algae Biofuels Market - Strategic Assessment
Frost & Sullivan, Aug 2010, Pages: 77
Algae biofuels have received considerable attention in recent years as a consequence of rising crude oil prices and climate change problems. The success of Algae Biofuels now hinges on achieving the great potential yields from algae feedstock, while actively pursuing further reductions in production costs and successful demonstrations of the technologies involved in the production processes. The present research service analyzes the World Algae Biofuels market by identifying the drivers and restraints facing this market, the major trends and the competitive environment.
This research service titled World Algae Biofuels Market - Strategic Assessment provides a comprehensive analysis of the world algae biofuels market. This research service also analyses the production pathways and value chain along with the market drivers and restraints, production forecasts, and major industry trends.
Market Overview
Algae’s Immense Potential as a Biofuel Feedstock Boosts the World Algae Biofuels Market
Algae have huge yields compared to other terrestrial crops, making it potentially important as a biofuel feedstock. Additionally, algae can grow on non-arable land and does not require fresh water. Although algae offer significant yield with no competition from other food crops, achieving large-scale production in a cost-effective manner remains a challenge. “Higher yields translate into lower land requirements,” says the analyst of this research. “Moreover, the possibility of using non-arable land and non-drinkable water completely eliminates the food versus fuel debate around biofuels.” The escalating crude oil prices and the need to reduce carbon emissions will drive the demand for renewable energies. Algae biofuels are well positioned to capture a significant share of the total renewable energy market due to the relative productivity of algae.
However, scalability requires a large amount of capital along with a decrease in production costs. Greater technological breakthroughs and funding will be needed to reduce engineering costs. “Capital and operating expenditures required for large-scale production of algae biofuels continue to be high relative to other fuels, especially, petroleum-derived fuels,” explains the analyst.
More effective harvesting and processing methods should be obtained to achieve considerable cost reductions. Additionally, it is essential to secure the necessary inputs for production at lower costs. “Although rising crude oil prices may benefit algae biofuels aspirations, achieving major cost reductions and stepping-up productivity is the only way to implement the use of algae biofuels,” concludes the analyst. “Discovering more efficient harvesting and processing processes is essential to this goal.”
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