As per MarkNtel Advisors The Global Algae Biofuel Market size was valued at around USD 10.23 billion in 2024 and is projected to reach USD 18.45 billion by 2030. The market is also estimated to grow at a CAGR of around 10.3% during the forecast period, i.e., 2025-30.

Global Algae Biofuel Market Systems Market Outlook:

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Global Algae Biofuel Market Systems Market Segmentation:

By Type

-Bioethanol- Market Size & Forecast 2020-2030, Thousand Tons

-Biogas- Market Size & Forecast 2020-2030, Thousand Tons

-Biodiesel- Market Size & Forecast 2020-2030, Thousand Tons

-Jet Fuel- Market Size & Forecast 2020-2030, Thousand Tons

-Bio Butanol- Market Size & Forecast 2020-2030, Thousand Tons

-Methane- Market Size & Forecast 2020-2030, Thousand Tons

-Others

By Raw Materials

-Spirulina- Market Size & Forecast 2020-2030, Thousand Tons

-Chlorella- Market Size & Forecast 2020-2030, Thousand Tons

-Dunaliella- Market Size & Forecast 2020-2030, Thousand Tons

-Others- Market Size & Forecast 2020-2030, Thousand Tons

By Process

-Chemical- Market Size & Forecast 2020-2030, Thousand Tons

-Thermochemical- Market Size & Forecast 2020-2030, Thousand Tons

-Biochemical-Market Size & Forecast 2020-2030, Thousand Tons

By Application

-Transportation- Market Size & Forecast 2020-2030, Thousand Tons

-Aerospace- Market Size & Forecast 2020-2030, Thousand Tons

-Power Generation-Market Size & Forecast 2020-2030, Thousand Tons

-Agriculture-Market Size & Forecast 2020-2030, Thousand Tons

-Industrial-Market Size & Forecast 2020-2030, Thousand Tons

-Others

By Region

-North America

-South America

-Europe

-The Middle East & Africa

-Asia-Pacific.

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Comprehensive Analysis: Preview detailed market analysis, including segmentation, competitive landscape, and Geographical insights – https://www.marknteladvisors.com/research-library/algae-biofuel-market.html

Global Algae Biofuel Market Driver:

Increasing Demand for Biofuels Driving Market Growth – The traditional types of fossil fuels have adversely affected the environment due to the release of toxic substances and harmful gases into the surroundings after being consumed. Thus, these increasing concerns to replace conventional sources of energy with greener alternatives have been driving the market. Biodiesel and bioethanol are increasingly adopted as substitutes for diesel and gasoline. These have wider applications in the field of transport, aviation, hydrogen production, oil spill clean-up, hydrogen production among others. Consequently, the algae biofuel production capacity has increased worldwide. For instance, as per the Indian Ministry of Power (2023), global biofuel production has reached nearly 270 million liters per day. This rising production is due to the rapidly increasing demand for biofuels like algae biofuels from emerging economies such as India, Indonesia, Brazil, etc.

As per the IEA (International Energy Agency) (2023), the global demand for biofuels is projected to rise by more than 195 billion liters by the year 2028. As per United Airlines, in 2023, about USD 5 million has been invested in Viridos Inc., an algae biofuel-producing company, for the production of 70% carbon-free jet fuel for achieving sustainability. Thus, growing applications of biofuels have in turn increased the demand for algae-based biofuels, and this demand is expected to rise further in the forecast period.

Report Highlights Essential Insights for Strategic Decision-Making

• Detailed market size, share, and forecast analysis
• In-depth pricing trends and segment-wise cost evaluations
• Key industry strategies, including innovation, partnerships, and acquisitions
• Critical value chain analysis and stakeholder profiling
• Regional import-export market insights and trade flow assessment
• Thorough competitive benchmarking of top hearing aid manufacturers
• Identification of new growth opportunities and niche market segments
• Overview of market trends, drivers, and challenges shaping future demand

Some of the leading players in the Global Algae Biofuel Market are:

Algenol Inc., Sapphire Energy, Genefuel Corporation, Original Clear, Cellana Inc., Neste, Renewable Energy Group, Viridos Inc., Solix Biofuels Inc., Manta Biofuels Inc., Euglena Co. Ltd., Inventure Renewables Inc., and others

Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

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