Second Generation Biofuels Market to Grow at CAGR of 24.5% through 2033; Rising Emphasis on Sustainability to Bolster Growth [Yahoo! Finance]
CLARIANT AG UNSP/ADR (CLZNY)
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Source: Yahoo! Finance
Asia Pacific emerged as the largest global second-generation biofuels market, with a 39.8% market revenue share in 2023. Newark, April 18, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 6.7 billion second-generation biofuels market will reach USD 59.9 billion by 2033. Biofuels of the second generation are derived from non-food sources such as wood, waste vegetable oil, waste forest, waste industrial waste, and ecological biomass crops. Developing second-generation biofuels addresses the limits and restrictions of the first generation. The non-edible residue left over from food crops is called biofuel feedstock, and many forms of biomass can be used to make biofuels. The limits and restrictions of first-generation fuels have led to developing second-generation biofuel technology. Second-generation biofuels can also be produced from crops that aren't utilised for food, like cereals, wheat straw, and switchgrass. Recent developments in conversion techniques may inc
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