C&M: Global industry for algae biofuel technologies to be driven by increasing environmental awareness
Global Algae Biofuel Technologies Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-18 07:42:03
The Global Algae Biofuel Technologies market is forecast to grow at a CAGR of 43.4 percent for the period 2013-2018. Several driving factors and trends will contribute to this growth.
Governments in various countries including the US, Italy, China, Germany, and India have been funding biofuel projects, and have introduced incentives and subsidies to vendors that produce biofuels. For instance, the US has announced a stimulus package of US$100 billion to develop clean, alternative, and renewable technologies. The US Government has also introduced its Renewable Fuels Reinvestment Act, which proposes an extension of Volumetric Ethanol Excise Tax Credit, allowing a US$0.54 per gallon tariff on imported ethanol until December 2015. It has also introduced various tax credits to help improve the production of ethanol. The US Department of Energy has awarded US$151 million in funding to 37 biofuel-related projects under its Advanced Research Projects Agency-Energy program. Similar incentives are being introduced in other countries and this is one of the major trends which is expected to drive the Global Algae Biofuel Technologies market in the future.
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