43.1% Annual Growth Forecast for Algae Industry
July 8, 2012
he total global market for algae biofuels technologies shows double-digit growth potential over the short term future, for a projected annual “average growth of 43.1%, that will lead the market volume from $271 million in 2010 to $1.6 billion in 2015,” according to a recent report from SBI Energy Reports. The study, Algae Biofuels Technologies – Global Market and Product Trends 2010-2015, provides an overview of the immediate future market for algae biofuels production technologies and presents industry, financing and investment trends in the algae biofuels sector.
The primary factors that affect the size and growth of algae biofuels technology markets, detailed in the report, are factors relating to investment, technological advancement and business development, as well as market factors that spur demand for algae biofuels. These have been buoyed by various factors including public and private R&D, industry investment from the public sector and other industries, fossil fuel prices, and general regulatory support for biofuels. These factors combine to indicate the total global market described in the report for algae biofuels technologies.
The study suggests that algae biofuels companies must gauge the prospects of their technology under development – or value of their algae biofuels projects – through market and product trends, and outlines pertinent trends affecting the real and prospective value of algae biofuels (along with the associated technologies) compared to alternative biofuels and petroleum.