By OGJ editors
HOUSTON, Apr. 2 -- World biofuels demand is expected to expand at 19.5%/year to 92 million tonnes in 2011 despite concerns about the impact of biofuels on the environment and food supplies, Freedonia Group Inc. said in a report.
The Cleveland market research firm said 2006 world biofuels demand was 37.7 million tonnes, and that the annual growth rate was 19.9% during 2001-06.
Future market expansion will come from a more than doubling of ethanol demand and even faster increases in global biodiesel demand. Other biofuels also will experience strong growth but at a slower pace than ethanol or biodiesel, Freedonia said.
The annual growth rate for biofuels demand from 2006-11 is forecast at 35.3% in Asia Pacific, 22.1% in Western Europe, and 19.5% across North America. In terms of absolute gains in expanding biofuels demand, North America will be the leader, Freedonia said.
