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Biofuel Production Expected To Cross 16 Billion Gallons
By James Marriot
Production of biofuels in U.S. will exceed 16 Billion Gallons by the year 2015, as per the industry experts. Ethanol will make up 14.20 Billion Gallons, increasing from 4.5 Billion Gallons in 2006. Ethanol will be representing 9.4% of gasoline consumption, and biodiesel will approximately be equal to 4% of total estimated diesel consumption.
Both the use of agricultural resources and the dynamics of international trade in certain commodities will be affected by these projected production levels. For instance, corn that's used for the production of ethanol fuel will drip out of stocks now allocated to animal feeds and exports. Since more than 60% of the global trade in corn is supplied by the U.S., reallocation of this source to fuel is likely to translate in to higher prices for corn in the world.
In its recently published market research report "New Opportunities in US Biofuel Market (2006)" RNCOS has provided an updated and detailed analysis of the US Biofuel market. The report provides an overview of global Biofuel market and focuses exclusively on US.
As per the report, "The tremendous increase in the demand for ethanol has surpassed its supply in the last two years (2004-05). Production of ethanol can be accomplished locally. It can invigorate local economy, specifically in agricultural sector, and can also help in reducing the imports of oil. Demand will continue to grow further as Biofuels finds new applications in automobile, aviation, and fuel cell sectors to name a few."
Highlights of the report:
§ Past performance of Biodiesel and Ethanol in US.
§ Various government support programs that are supporting Biofuel growth.
§ Economic impact of Biofuel.
§ Price Analysis of Biofuel with conventional fuels.
§ Impact of Biofuel on US oil sector.
§ Demand and supply situation for biodiesel and Ethanol.
§ Potential market segments for Biofuel.
§ Opportunities and challenges before Biofuel in the market.
For more information visit: http://www.rncos.com/Report/IM074.htm
Current Industry News: http://www.rncos.com/blog
About the Author
We provide global business information for industry research, business consulting, & bring reputed companies and firms to us for business enhancement solutions.
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