Algae biofuels, algal oil or algal biofuel are obtained from algae such as Botryococcus braunii, Crypthecodinium cohnii, Chlorella species, Nitzschia species, and Tetraselmis suecia. Algae biofuels act as renewable alternatives to fossil fuels and other biofuel sources such as sugarcane, beet root, sorghum, and corn and provide 2 to 20 times more yield. Algae biofuel can be cultivated using closed loop systems, open ponds, and photo-bioreactors. The characteristics of algae biofuels include high flash point, biodegradability, and low or no aromatic or sulphur compound. The major advantages of biofuel production from algae are high energy content, fast growth of algae, and huge consumption of carbon dioxide from environment by algae. Algae can produce a variety of biofuels such as bioethanol, bio-butanol, jet fuel, biodiesel, bio gasoline, green diesels, and methane. The fuel produced from algae can be used in automobiles while the by-products can be used as natural dyes, pigments, bio-active compounds, and antioxidants.
The growing demand for fuels, increasing regulatory policies and government support, the volatility of supply and cost of fossil fuels, growing transportation industry, and the environmental benefits of the algae biofuels are the drivers for algae biofuel market growth. The high production cost is the major challenge to algae biofuel market. However, several market players and government agencies are investing in research and development to reduce the operating cost.
Algae Biofuels -Market Taxonomy
On the basis of fuel type, the global algae biofuels market is segmented into
On the basis of application, the global algae biofuels market is segmented into
The increasing demand for fuels in road transport applications such as minivans, motorbikes, light duty vehicles, passenger vehicles, and small trucks is augmenting the algae fuel market growth. This has attributed to increasing investment in research and development to introduce algae biofuel as potential alternative. Furthermore, the penetration of biofuels in industrial sector as energy source is fueling the growth of algae biofuel market.
Algae Biofuels -Market Outlook
Key Players in the Global Algae Biofuel Market
The algae biofuel manufactures are adopting various strategies such as research and development to increase the adoption of algae biofuel as sustainable energy source and sustain their market positions. Some major market players operating in the global algae biofuel market include Algenol Biofuels, Blue Marble Production, Chevron Corporation, Culture Biosystems, Genifuels, Imperium Renewables, Inc., Origin Oils Inc., Reliance Life Sciences, Proviron, Sapphire Energy, Inc., Solazyme Inc., and Solix Biofuels.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.