Biofuel to Answer Energy Crunch in Asia-Pacific

The Asia-Pacific region is expected to witness a rapid growth in biofuel production in near future as rising population and high economic activities in the region are leading to an increase in the demand for primary energy, particularly for transportation and industrial use, according to “Asia-Pacific Biofuel Market Forecast”, a new research study by the leading market research firm RNCOS. With biofuel, Asia-Pacific economies will be able to take care of their expanding energy demand and maintain energy security.
The report says that as all the major Asia-Pacific economies are net importers of energy, they are more vulnerable to volatility of oil prices. This makes energy security a vital issue for these countries. Fluctuating oil supply with soaring oil prices is encouraging the high energy consuming countries of the region to search for a sustainable and indigenous alternative source of energy. So, several countries have started to support biofuels industry on a big scale.

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