Global biofuels market to grow at 5.87% rate through 2020: Report

In New York, a report from Technavio concluded that the global biofuels market will grow at a CAGR of 5.87% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global biofuels market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market.

The report, “Global Biofuels Market 2016-2020,” states that “High dependence on non-renewable fuels has created economic as well as environmental concerns, such as rising greenhouse gas emissions. Several developing and developed economies have implemented regulatory reforms, blending targets, and statutory norms while using biofuels to offset the growing environmental risks associated with conventional fuels.” The report looks separately at growth prospects in the Americas, Asia-Pacific and the EMEA region.

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