Global advanced biofuel market to reach $24 billion by 2020

According to a new report by Allied Market Research titled, “Global Second Generation Biofuels—Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013-2020,” the global second-generation biofuels (advanced biofuels) market would reach $23.9 billion by 2020, registering a compound annual growth rate (CAGR) of 49.4 percent during 2014-'20.

Currently, biodiesel garners the largest market share; however, the latest and the most commercially viable cellulosic ethanol would surpass biodiesel and eventually lead the market by 2020. North America generated largest revenue, as it has more than 50 percent of the globally installed capacity base.»