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Second Generation Biofuels Market at a CAGR of 26.8% with Top Players | Algenol Biotech LLC, Fiberight, POET-DSM Advanced Biofuels LLC, Clariant AG, and More
Second Generation Biofuels Market
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Second-generation biofuels, also known as generation 2 biofuels, are deemed more environmentally sustainable compared to first-generation counterparts. This is due to their lack of competition with food production and their reduced environmental footprint. Consequently, it is anticipated that the market for second-generation biofuels will experience growth in the coming years.
Second Generation Biofuels Market Top Competitors:
Algenol Biotech LLC,
Fiberight,
POET-DSM Advanced Biofuels LLC,
Clariant AG,
GranBio Investimentos S.A.,
Reliance Industries Limited,
INEOS Group,
International Flavors & Fragrances Inc.,
Orsted A/S, Zea2. and others.
Recent developments in the global second-generation biofuels market include:
In January 2022, Clariant, a specialty chemical company emphasizing sustainability and innovation, disclosed the production of the initial commercial cellulosic ethanol at its sunliquid production facility located in Podari, Romania.
In December 2021, GranBio unveiled a strategic partnership with NextChem, a subsidiary of the Italian engineering conglomerate Maire Tecnimont focused on energy transition. This collaboration aims to co-license GranBio's patented technology worldwide for the production of second-generation biofuels.
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Regions Covered in the Global Second Generation Biofuels Market:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East, Africa and rest of the world
Second Generation Biofuels Market Dynamics:
Drivers: Advancements in Biofuel Technology and Growing Environmental Concerns.
Restraints: High Production Costs and Limited Feedstock Availability.
Opportunities: Competition with First-Generation Biofuels and Infrastructure Constraints.
Challenges: Competition with First-Generation Biofuels and Infrastructure Constraints.
Second Generation Biofuels Market Segmentations:
By Type:
Biodiesel
Bioethanol
Others
By Process:
Biochemical Process
Thermochemical Process
Others
By Application:
Transportation
Power Generation
Others
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