Global Analysts project 135 billion gallon biofuels market by 2018

In California, The global consumption of Biofuels is projected to reach 135 billion gallons by the year 2018, according to a new report from Global Industry Analysts. ” Biofuels are fast growing to become a prominent alternative energy resource, driven mainly by the growing environmental concerns with regard to the usage of fossil fuels,” the research group said in a statement. “With the process of conversion of cellulose into sugars for fermentation being quite difficult, research is underway for developing microbes, enzymes, and fungi that could breakdown celluloses into sugars. Nevertheless, despite the significant investments in research and development, commercialization of the next generation biofuels is not expected to happen anywhere in the next 8-10 years owing to the several technical barriers on the way,” the authors added.