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Biofuels have seen a tremendous increase in demand over the last years and this is predicted to continue. Furthermore, a successful development of second generation biofuels would enhance this development and make biofuels highly competitive with fossil fuels.

 

 


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Bioproduct Markets

 
     
  The increase in oil price and the greater climate change awareness have rapidly raised the biofuel and biochemical demand over the last years. Especially concerning fuel supply, governments have realised the danger of being too dependent on oil in the future and have therefore set very optimistic targets for biofuel usage over the coming decade. One example is the US National Security Act 2007 where a target has been set of a yearly production of 36 billion gallons in 2022. To reach this target would imply an increase of approximately 100% in biofuel production over the coming 12 years. The European Union has stated that 10% of Europe’s road transport fuel should come from renewable resources by 2020, which obviously would imply a significant increase in demand.

Demand for Biofuels 2001 - 2008


 
         
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