Energias Market Research, a consulting company with offices in New York, London, Sydney, Singapore, Dubai and India has published a Market Report where they predict that the Global Cellulosic Ethanol Market will grow a CAGR of 45.4% and is projected to reach a market value of USD 4.2 billion by 2024.
The growth is attributed to the continued high demand for green fuel across the globe and the depletion of oil and gas reserves.
Cellulosic ethanol is defined as Ethanol (Ethyl Alcohol) produced from cellulose ( the fiber of a plant) rather than from the plant’s seed or fruits. The feedstock is normally grasses, wood, algae and others.
North America accounts for the largest share of cellulosic ethanol and The United States is already at the forefront of production on a commercial scale.
The company has developed a low cost, commercially viable cellulosic pathway(s) for the production of bio-ethanol and is currently working on 2nd. generation, low carbon production facilities.
For additional information, please contact the company.