According to a recent report from MarketResearch.com, global production of ethanol and biodiesel is expected to grow at a compounded annual growth rate of approximately 8% and 11%, respectively, from 2011 to 2014.
The report, ‘Global Biofuel Market Analysis,’ says the Americas – mainly the U.S., Brazil, Argentina and Canada – account for the largest share of the global ethanol industry. The region represents about 90% of total global ethanol production, the company says. In the biodiesel market, Europe is the leading producer.
The report also notes that the Asia-Pacific region has ‘enormous potential in the field of biofuel production,’ which is largely attributable to cost-effective access to feedstock. Australia, China, India, Thailand, Indonesia and Malaysia are particularly well-positioned, and each has shown ‘great interest in raising the production of biofuels in order to use them as alternatives of conventional energy sources,’ MarketResearch.com says.