Biofuel analysis published by Companies and Markets

Industry research provider Companies and Markets has published its latest global biofuel analysis, highlighting the most important trends in the sector at present.

The latest biofuel analysis from the firm notes the importance of the renewable resource in the EU, where a target is in place to reach annual production by 2020 of biofuels as ten per cent of all liquid energy products consumed.

Biofuels - A Global Market Overview adds that operators the world over are currently balancing a number of different challenges.

They range from the regulatory burden faced to the pressure placed on other industries - such as food production - as more land is dedicated to growing biofuel crops.

In the US, the target is to produce 40 billion gallons of biofuels by 2022 and an interim target of eight billion gallons per year from 2012 onwards - deemed "ambitious" by the analyst.

A previous Companies and Markets report argued that the need for continued development of the biofuels sector persists due to volatility in the conventional oil market, where prices and production levels have been uncertain in recent years.