31 - Global profile and market potentials of the third-generation biofuels

Abstract

Third-generation biofuels from algae are currently considered excellent biofuel alternatives due to their ability to counteract almost all the pitfalls of the first- and second-generation biofuels. In consequence, the global commercial production and consumption of third-generation liquid, solid, and gaseous biofuels keep increasing despite their economic inefficiencies in the short term. The growth potential of the third-generation biofuel industry worldwide is high as its market keeps expanding day by day. Nonetheless, there are issues and challenging hurdles which affect the overall production and market opportunities in the world, thus repelling prospective investors and consumers. This chapter assesses the global production, consumption, topographical distribution, growth forecast, and market prospective of the third-generation biofuels in the energy market. Key factors that impact the small- and large-scale manufacturing, current market, and future investors would also be discussed.