The organizer of the World Biofuels Markets 2012 exhibition has released the results of its annual industry survey, which collected feedback from more than 100 leading biofuels stakeholders.
Among the key trends identified are that biofuel feedstocks are shifting to non-food and waste sources and that the biggest growth opportunities for biofuels are in Asia. Also, the commercial aviation industry and the U.S. military have made strides incorporating biofuels into their fuel mix.
‘The input and opinions from global biofuels leaders makes it clear that innovation is alive and well in the sector,’ says Nadim Chaudhry, CEO of Green Power Conferences, organizer of the survey and conference. ‘Yet it is also clear that lessons about sustainability and cost from first-generation fuels have been learned – that's why we see such a focus on non-food feedstocks.’
The company says government policy and high oil prices will be the main catalysts for continued global growth in the biofuels sector. In fact, 44% of survey respondents said the global price of oil is seen as the major driver of continued investment. Government mandates followed, with more than 27% citing policy as the chief influencer of market growth.