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Algae Biofuel Market Estimates & Trend Analysis By Application (Transportation, Others), By Region (North America, Europe, Asia Pacific, Rest of World), By Country, And Segment Forecasts, 2018 - 2025NEW YORK, July 17, 2017 /PRNewswire/ -- The global algae biofuel market is expected to reach USD 10.73 billion by 2025, according to a new report by Grand View Research, Inc. Depleting fossil fuel resources as well as rising awareness towards environment protection is expected to be the key factor for driving industry growth. Further key findings from the report suggest: Transportation is expected to dominate the algae biofuel market accounting over 70% of the overall demand by 2025, owing to its high potential to replace diesel and gasoline in automotive vehicles In Europe, the demand for the product in transportation application is expected to grow at a CAGR of over 12% from 2018 to 2025. High demand for biodiesel in the European countries owing to the government regulations and high adoption rate in the region is expected to propel industry growth. North America is expected to be the largest market accounting over 30%, owing to high investment by the start-up companies and the U.S. government to support renewable energy sector over Asia Pacific is expected to grow at a CAGR of over 8% to reach the revenue of over 2 billion by 2025, owing rapid technological advancements and low raw material costs in the region In 2010, the U.S. based Solazyme, Inc. delivered over 36,000 liters of 100% algae-derived biofuel to the U.S. Navy, for testing and certification purpose, which was seen as key step towards product commercialization Read the full report: http://www.reportlinker.com/p04785494/Algae-Biofuel-Market-Estimates-Trend-Analysis-By-Application-Transportation-Others-By-Region-North-America-Europe-Asia-Pacific-Rest-of-World-By-Country-And-Segment-Forecasts.html About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. http://www.reportlinker.com __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 SOURCE Reportlinker |