Technavio study says global advanced biofuel market will reach $44.6 billion by 2021

In the UK, Technavio analysts forecast the global advanced biofuel market to grow to $44.6 billion by 2021, at a CAGR of close 44% over the forecast period, according to their latest report. The research study by Technavio on the global advanced biofuel market for 2017-2021 provides detailed industry analysis based on the fuel type (cellulosic ethanol, biodiesel, and BioDME) and geography (the Americas, EMEA, and APAC).

“Governments around the world are actively looking to increase the use of renewable energy sources, which is positively impacting the advanced biofuels market. Adopters of renewable energy are encouraged with incentives, grants, special loans, and a tax credit, thereby driving the growth of the market,” said Ajay Adikari, a lead analyst at Technavio for specialty chemicals research.