The global Bioenergy Market and it is poised to grow by USD 68.92 bn during 2020-2024, progressing at a CAGR of 8% during the forecast period.
Key Players in the Bioenergy market include Joule Unlimited, Butamax Advanced Biofuels, Amyris, Enerkem, Abengoa Bioenergy and Ceres.
In a recent paper March 2020 published in Environmental Science and Technology, the researchers from Ben-Gurion University of the Negev (BGU) and Michigan State University (MSU), examined a number of different cellulosic biofuel crops to test their potential as a petroleum alternative in ethanol fuel and electric light-duty vehicles including passenger cars and small trucks. Biomass fuels derived from various grasses could significantly mitigate global warming by reducing carbon, according to a long-term field study by a group of researchers.
India and Brazil on Jan 2020 signed 15 MoUs in various fields including cybersecurity, bioenergy and health and medicine among others, An MoU on bioenergy cooperation, investment cooperation and facilitation treaty, agreement on cooperation in the field of health and medicine, cultural exchange programme for the period 2020-2024 were exchanged between the two sides. In 2019, bioenergy electricity generation increased by over 5%, just below the 6% annual rate needed through 2030 to reach the SDS level. Recent positive policy and market developments in emerging economies indicate an optimistic outlook for bioenergy, supporting its “on track” status.
RUSNANO Group and Energy Systems Management Company Aug 2020 are starting to establish first renewable energy facilities using the energy service contract system. The plan is to install five autonomous hybrid power systems (AHPS) in a region of decentralized energy supply in the Republic of Sakha (Yakutia). AHPS is to be comprised of a photovoltaic power unit, a diesel power plant and an electricity storage system. It will also include remote automatic monitoring and management systems. Amyris, Inc. July 2020 joint venture, the leading supplier of high performance, clean beauty ingredients is commercializing plant-derived silica made from sugarcane ashes. Silica is used widely in personal care and cosmetics. It is traditionally sourced from non-renewable sand dredging, which requires significant energy consumption and emits large amounts of C02. The new ingredient branded Biosilica can be used in foundations, creams, lotions and other applications as a sustainable and better performing alternative to traditional silica. In addition, it offers an alternative to microplastics which are being phased out of many cosmetic products.
Future Bioenergy- Despite large uncertainties, most estimates show that biomass is likely to be sufficient to play a significant role in the global energy supply system. Bioenergy could expand from current 56 EJ to 145 EJ by 2060, with an increased role of modern bioenergy on behalf of traditional use of biomass.
Based on product type, the bioenergy market is segmented into bioethanol, biogas, biodiesel, and others. Based on application, the market is classified into cooking, off-grid electricity supply, transportation, and others. Geographically it has been segmented into North America, Europe, Asia-Pacific and Row. Bioenergy market in North America is anticipated to increase due to the stringent emission norms in the region. The U.S. in North America is anticipated to lead the production of bioethanol in the coming years, whereas Germany in Europe is expected to lead the biogas production in the coming future. Thus, it is anticipated that Germany will lead the global bioenergy market in the European bioenergy market.
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