PRZOOM - /newswire/ -
Noida, Uttar Pradesh, India, 2010/05/20 - Government tax incentives and subsidies along with rapidly growing domestic demand will enable ethanol production to achieve 6% CAGR during 2010-2013, says RNCOS.
According to our recent research report “Global Biofuel Market Analysis”, the US is the largest player in the global biofuel industry. Expansion of ethanol production capacities and supportive government programs has been driving the ethanol industry in the country for last few years. Even amid economic slowdown, the industry managed to sustain its positive growth momentum, and it’s anticipated to post around 6% CAGR during 2010-2013, which will be one of the fastest in the world.
Our research has identified that domestic ethanol production in the US till 2005 was able to fulfill most of the ethanol demand created by various industries in the country. But, due to the enactment of the Renewable Fuels Standard (RFS) along with the phasing out of MTBE in 2005, increased demand for octane and other market forces, ethanol demand surged to 9637 Million Gallon in 2008. The ethanol production in the country responded impressively and almost met the local demand. We anticipate production trend to rapidly surge in coming years on the basis of various concrete factors thoroughly discussed and evaluated in the report.
Apart from US, may other countries including Brazil, China, Thailand, India, Germany, Spain, etc. are also showing impressive growth trends in biofuel industry developments. The government-backed industry is attracting billions of dollar worth of investments in these countries. In addition to the public sector contribution, private sector has also started taking active participation in the industry developments. We anticipate these trends to hold good in coming years also, thus resulting in tremendous growth in the global production and consumption of biofuel.
“Global Biofuel Market Analysis” is an outcome of the extensive research and objective analysis of biofuel industry potentials at global as well as regional levels. It gives a deep insight of the regional trends prevailing in the prominent biofuel markets across the globe. Analysis and statistics regarding market size, growth, regional segmentation, trends in technology developments along with industry forecasts have been thoroughly analyzed in the report to provide clients a comprehensive overview of the concerned market.
RNCOS (RNCOS.com), incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.