New report shows biofuels CAGR globally at 9.6% between 2013-19

In New York state, in its latest market research report published recently, Transparency Market Research, a U.S.-based market intelligence firm states that the global biofuels market is estimated to grow at CAGR 9.6% between 2013 and 2019. The report, titled “Biofuels Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019,” is available for sale on the company’s website.

This report discusses the importance of biofuels and the rising global demand for biofuels in order to ensure clean energy usage. Biofuels are derived from living organisms when they undergo the natural process of carbon fixation. The conversion of biomass creates biofuels. Biomass includes plants or plant based matter, wood, organic wastes and residual materials which are organic in nature. Hitherto, the largest source of biomass energy is wood. Biofuels are available in solid, liquid or gaseous forms. Bioethanol, an alcohol, is a liquid biofuel which is derived from the fermentation of carbohydrates produced in corn starch, sweet sorghum and sugarcane. Brazil and the US are the two significant consumers of bioethanol. Ethanol, in its purest form is used directly in automobiles for emission control.