Fueled by high crude oil prices and environmental concerns, corporate participation in the algae biofuels industry jumped a record-breaking 550% from 2005 to 2007. Nevertheless, oil prices have since declined and the recent financial crisis obstructed many industries. According to the new report from Specialists in Business Information, "Currently there seems to be continued interest in algae biofuels, but the industry is also plagued by excessive hype." Substantial development and scaled testing dominates the current market for algae biofuels production technologies. Emerging technologies in algae biofuels production will account for up to a third of the total market by 2015 as demonstration and commercial implementation move ahead.
Why algae?
Algae can be used as a feedstock. The great benefit to this is that algae can be manipulated to produce an array of biofuels, including: biodiesel, renewable diesel, renewable jet fuel, algal oil, aviation biofuel, biogasoline, ethanol, biomethane, butanol, and hyrdrogen. Addtionally, algae biofuels production requires a wide range of technologies: genetically engineered diatoms, cyanobacteria, and green algae; open ponds or photobioreactors for cultivation; refineries, digesters, fermenters for fuel processing; and presses and centrifuges for extraction.
What is the outlook for the algae biofuels production technologies market?
Cultivation technology sales are expected to make up the majority of the total algae biofuels production technologies market. A combination of harvesting, extraction and fuels production facilities will account for the remaining market segments, which will bring the total forecasted market value to be over $1.6 billion in 2015. According to the study, "Starting at an estimated $271 million market size for 2010, this increase is significant and underscores that this is a quickly changing and evolving industry, expected to show and annual growth rate of nearly 43 percent."
For more information on this report:
Algae Biofuels Production Technologies Worldwide
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