Published on : Aug 25, 2016
The increase in the environmental pollution, caused by the alarming rise in the GHG emission, has compelled people across the world to shift from conventional fuels to bioenergy, leading to a significant surge in the valuation of the global market for bioenergy. The rising depletion of non-renewable energy sources is another important factor behind the growing demand for bioenergy.
Going forward, the untapped opportunities present in developing economies are likely to drive the worldwide market for bioenergy over the forthcoming years. The presence of favorable conditions for the growth of a sustainable energy model is also expected to benefit market participants in the near future. The availability of energy resources in abundance and the presence of a skilled workforce at lower wages are encouraging established market participants to expand their businesses in these economies.
Europe to Maintain its Dominance in Global Bioenergy Market
North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa are the key regional markets for bioenergy. Among these, Europe has emerged the leader and is closely followed by Asia Pacific and North America. Analysts expect Europe to remain dominant over the next few years. Here is a snapshot of key trends that will shape the market for bioenergy in Europe:
- The implementation of various directives aimed at promoting renewable energy, biofuels, and landfills in Europe is expected to boost the adoption of bioenergy in this region in the years to come.
- The European Union Emission Trading Scheme (EU ETS) and the Common Agricultural Policy (CAP) are also expected to impact the demand for bioenergy positively over the next few years.
- France and Germany are projected to emerge as the leading domestic markets for bioenergy in Europe in the near future.
Solazyme Inc., LanzaTech, BP Plc., Butamax Advanced Biofuels LLC, DuPont, Amyris Inc., Enerkem Inc., Zeachem, Gevo Inc., Abengoa Bioenergy S.A., Novozymes, and Ceres Inc. are some of the key participants in the global market for bioenergy.