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Pulished Date November, 2021
ID: 12414
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Algae Biofuel Market Segmentation by Type (Biodiesel, Bioethanol, Methane, Jet fuel, Biobutanol, Green diesel, Bio gasoline, and Others), By Application(Aerospace, Transportation, and Others) and Region - Industry Forecast of 2021 to 2026

Pulished: November, 2021
ID: 12414
Pages: 180

Algae Biofuel Market Value & Growth Rate:

The Global Algae Biofuel Market is anticipated to reach USD 9.2 billion by 2026 growing with a CAGR of 9.0% from 2021-2026.

Algae Biofuel Market Scenario:

Over the last decade, the algae sector has struggled to stay afloat in the biofuel market. The global algae biofuel market growth has been stifled by the decommissioning of essential algae biofuel commercial projects. However, once the producers can overcome the primary constraints connected with raw material manufacturing, capital costs, and production quantities, the product has immense potential. The industry's high potential for producing bioethanol, biodiesel, drop-in biofuels, and hydrocarbons, together with manufacturer initiatives to commercialize the product, is projected to open new doors for the global algae biofuel market.

The growth of the detergent market in emerging economies, rising fuel demand from various end-use industries, increasing demand for green and sustainable energy sources, and increasing government initiatives for the adoption of renewable energy sources are all expected to boost the algae biofuel market in the forecast period of 2021-2026. On the other hand, the prevalence of low-cost fuel, rapid microorganism development, and high biodegradability would further expand the algae biofuel market throughout the projection period.

Algae Biofuel Market Drivers and Restraints:

The quick expansion of the biofuel industry in algae is due to the expanding demand for fuels in numerous end-use industries and the growing need for green and sustainable energy sources. Algae biofuel has emerged as a viable option for satisfying the world's low-carbon fuel needs. The fast-paced development of the transportation business in many parts of the world has given the algae biofuel market a substantial boost. The growing demand for low-cost fuels in the aviation industry is also a positive trend in the algae biofuel market. Over the projected period, the introduction of biofuel requirements worldwide is expected to drive manufacturers to invest more in R&D to create sustainable algae fuel production technologies. In 2016, the United States produced approximately 1.14 billion gallons of biofuel from various feedstocks, including animal fats and recycled seeds.

The great potential of algae to replace traditional biofuel raw material sources, combined with government mandates, is predicted to provide new avenues for product growth, which additional regions will adopt over the forecast period. As a result, there are various start-up enterprises in the market all around the world. However, most of these players are based in North America because of the region's strong government support and low technological obstacles.

To reduce their reliance on raw material suppliers, enterprises in the sector are expected to be integrated across the value chain. Furthermore, the global algae biofuel market is projected to anticipate manufacturer cooperation and partnerships to create huge product volumes at substitute competitive pricing. The rapid growth of the algae biofuel business can be attributed to several appealing properties of algae biofuel. First, algae biofuel production is practical due to promises of higher output than several currently utilized crop-based biofuels, high energy content, rapid microorganism growth, and high biodegradability.

Bioethanol, biodiesel, methane, jet fuel, bio-butanol, green diesel, and bio-gasoline are some biofuels that can be obtained. Second, concerns about developing emission-free biodegradable plastic have grown due to environmental contamination caused by the combustion of harmful plastic items. In addition, strict government regulations requiring plastics manufacturers to manufacture biodegradable plastics made from renewable energy resources, such as algae, rather than fossil fuels, have pushed plastics manufacturers to produce biodegradable plastics made from renewable energy resources algae. Bio-plastics are made from algae biomass instead of traditional plastics made from other chemical ingredients such as polyvinylchloride, polyethylene, and polypropylene. The algae biofuel market is being driven by increased government initiatives to introduce renewable energy sources. 

The global algae biofuel market growth is predicted to be slowed by costly capital expenditure in algae biomass and fuel production, high water demand for algae production, and a lack of technological innovation.

Recent Developments in the Global Algae Biofuel Market:

  • On August 24th, 2021, Indian scientists, have launched cost-efficient biodiesel from microalgae under the inspiring program of the ministry of science and technology. They further declared that biofuel produced from algae could have the lowest emissions in India in the future.

  • Algenol, along with Reliance Industries, has introduced the first Algenol algae production platform in India.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

 2021 - 2026

CAGR

  9.0%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

Market Leaders Profiled

Algae System, Algaenergy, Algenol, Blue Marble Production, Cellana, Culture Biosystems, Genifuels, Origin Oil Inc, Production System, Proviron

Algae Biofuel Market Segmentation: 

By Type

  • Biodiesel

  • Bioethanol

  • Methane

  • Jet fuel

  • Bio butanol

  • Green diesel

  • Bio gasoline

  • Others

Based on Type, Biodiesel dominated the global algae biofuel market in 2018, accounting for a large portion of total volume. This is primarily due to a growing emphasis on lowering fuel consumption and massive diesel-powered car emissions. Biodiesel is defined as a biodegradable, renewable fuel made from vegetable oils, animal fats, or restaurant grease. Biodiesel, like petroleum diesel, is used to power compression-ignition engines. The performance of biodiesel in cold weather is determined by the biodiesel blend, feedstock, and petroleum diesel characteristics. In general, biodiesel blends with lower biodiesel percentages operate better in cold conditions. Moreover, biodiesel can lower the emissions because CO2 emitted from biodiesel combustion is compensated by the CO2 intake from soybeans or other feedstocks utilized to produce the fuel.

By End user:

  • Aerospace

  • Transportation

  • Others

Based on end-user, the transportation segment dominates the global algae biofuel market in the upcoming years. Because algae have the potential to replace traditional diesel and petrol products, transportation is likely to be the essential application segment in the global algae biofuel market. In addition, the growing demand for biofuels in road transport applications, such as miniature trucks, minivans, light-duty vehicles, motorcycles, and passenger vehicles, is likely to push manufacturers to invest more in research and development to produce low-cost renewable fuel resources. Thus, these variables are expected to offer new market prospects for productivity growth in the transportation application over the projected period.

Algae Biofuel Market Regional Analysis: 

The Global Algae Biofuel Market Report includes the segmentation of Regions:

  • The algae biofuel market is predicted to increase significantly in North America. Consumers in the United States utilize gasoline for various purposes, including cars, sports vehicles, light planes, generators, and commercial trucks. The growing need for renewable energy resources to meet rising energy demand while reducing carbon footprints' environmental impact is likely to boost market growth over the forecast period.

  • Europe is projected to hold the significant global algae biofuel market share in the next six years. By 2020, the European government intends to mandate that 10% of transportation energy come from renewable sources, primarily biofuels. Because of the high demand for luxury vehicles, commercial trucks, and motorbikes, a substantial portion of the petroleum is used in transportation in the European region.

  • Because of the region's strong growth in the automobile industry, Asia Pacific is likely to be an important market for the product. In addition, the existence of massive economies such as China and India, which account for a significant portion of the world's population, is predicted to fuel demand for sustainable energy resources, opening up new opportunities for market expansion. For example, China is considered one of the top five producers of algae biomass, and it has made significant investments in algae-derived energy products like diesel, gasoline, and hydrogen. In addition, the Chinese government's increasing focus on reducing reliance on coal and other fossil fuel resources for transportation and industrial applications will likely bring up new industry opportunities.

  • Latin America

  • Middle East and Africa

Impact of COVID-19 on Algae Biofuel Market:

The emergence of the novel COVID strain has harmed the healthcare infrastructure in many industrialized and developing countries. Staff, medicines, oxygen beds, and ventilators are all in short supply in the hospital. Supply chains are being disrupted, causing production activities to be disrupted in several countries. This harms the algae biofuel market.

Algae Biofuel Market Key Players:

The companies covered in the report include:

  1. Algae System 

  2. Algaenergy

  3. Algenol

  4. Blue Marble Production

  5. Cellana

  6. Culture Biosystems

  7. Genifuels

  8. Origin Oil Inc

  9. Production System

  10. Proviron

 

 

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Algae Biofuel Market, By Type                            

                                6.1.1 Biodiesel  

                                6.1.2 Bioethanol              

                                6.1.3 Methane 

                                6.1.4 Jet fuel     

                                6.1.5 Biobutanol              

                                6.1.6 Green diesel          

                                6.1.7 Bio gasoline            

                                6.1.8 Others      

                                6.1.9 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.10 Y-o-Y Growth Rate Analysis           

                                6.1.11 Market Attractiveness Index        

                6.2 Algae Biofuel Market, By Application                               

                                6.2.1 Aerospace

                                6.2.2 Transportation      

                                6.2.3 Others      

                                6.2.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.5 Y-o-Y Growth Rate Analysis              

                                6.2.6 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Algae Biofuel Market, by Region                          

                7.2 North America - Market Analysis (2021 - 2026)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Type    

                                7.2.3 By Application       

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Type    

                                7.3.3 By Application       

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Type    

                                7.4.3 By Application       

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Type    

                                7.5.3 By Application       

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Type    

                                7.6.3 By Application       

8. Key Player Analysis                                    

                8.1 Algae System                             

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Algaenergy                 

                8.3 Algenol                        

                8.4 Blue Marble Production                        

                8.5 Cellana                         

                8.6 Culture Biosystems                 

                8.7 Genifuels                    

                8.8 Origin Oil Inc                              

                8.9 Production System                  

                8.10 Proviron                    

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Algae Biofuel Market By Region, From 2021-2026 ( USD Billion )

  2. Global Algae Biofuel Market By Type, From 2021-2026 ( USD Billion )

  3. Global Biodiesel Market By Region, From 2021-2026 ( USD Billion )

  4. Global Bioethanol Market By Region, From 2021-2026 ( USD Billion )

  5. Global Methane Market By Region, From 2021-2026 ( USD Billion )

  6. Global Jet fuel Market By Region, From 2021-2026 ( USD Billion )

  7. Global Biobutanol Market By Region, From 2021-2026 ( USD Billion )

  8. Global Green diesel Market By Region, From 2021-2026 ( USD Billion )

  9. Global Bio gasoline Market By Region, From 2021-2026 ( USD Billion )

  10. Global Others Market By Region, From 2021-2026 ( USD Billion )

  11. Global Algae Biofuel Market By Application, From 2021-2026 ( USD Billion )

  12. Global Aerospace Market By Region, From 2021-2026 ( USD Billion )

  13. Global Transportation Market By Region, From 2021-2026 ( USD Billion )

  14. Global Others Market By Region, From 2021-2026 ( USD Billion )

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