Global Biofuel Market to Top One-Quarter Trillion

The dream of cellulosic ethanol powered vehicles and biorefineries is slowly coming to life, climbing through contentious issues of fuel versus food, low petroleum oil prices and sustainability. Brazil is growing quickly alongside the expanding biofuel market with predicted long term demand.

The Pike report also predicts the world biofuel market to surpass $280 billion by 2022, due in no small part to national biofuel consumption mandates. These consumption mandates result in impressive global evolution rates, with the worldwide compound annual growth rate for biodiesel from 2009 to 2022 to be 15 percent, according to Pike Research.

Reuters