| The global biofuel production is expected to surge to 27,000 Million Gallon by 2014 with strong support from the US and Brazil, favorable government policies and spiraling crude oil prices. |
| The global ethanol production is expected to rise nearly 27,000 Million Gallon by the end of 2014, says “Global Biofuel Market Analysis”, a new market research report by RNCOS.
According to the report, the global ethanol industry will grow at a rapid pace in coming years (2008-2017) as it is projected that the global oil prices (a major driver for the biofuel industry) have very low chance to slowdown. Moreover, the government policy and new plants will add to the increased ethanol production worldwide. The report also highlights that the global ethanol production will get the major boost from the US ethanol production base. The US government is offering attractive incentives such as motor fuel excise tax credits, import duties on fuel ethanol imports, small ethanol producer tax credits etc to promote the ethanol production in the country. Furthermore, the government is also planning to implement the use of E85 in vehicles. Due to this move, the domestic demand for ethanol will increase, and therefore, the US has planned to improve its ethanol production base in coming years. Brazil is following the US as the world’s second largest ethanol producer in long run and its future development for ethanol production is expected to be export-oriented, says the RNCOS research. The country has made the use of ethanol compulsory in 1977 and the current legislation requires 20-25% ethanol content in the fuel. Hence, the US and Brazilian governments’ strong support and inclination to use green fuel in their countries will help in increasing the ethanol production through sustainable demand growth. The report, “Global Biofuel Market Analysis”, gives comprehensive and updated information on the world biofuel market. It studies the emerging trends in the worldwide biofuel industry and gives exclusive forecasts on ethanol production, biodiesel production, ethanol consumption, biodiesel demand, biodiesel production capacity and biodiesel demand by regional and globally. The report also provides region-wise snapshots of different product categories across the world along with their future markets. It also updates on the development of new technologies and biofuel plants |
US & Brazil Biofuel Industries Driving the Global Biofuel Market
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