Biofuels market breaking out all over

  • 18-Apr-2011 03:16 EDT

The global biofuel market grew by 24.4% in 2010 to reach a value of about $128 million and by 2015 will grow to about $251 million, an increase of 96.3% since 2010, according to a report by Research and Markets. Volume is expected to grow 72% from 2010's 643 million barrels to 1.1 billion barrels in 2015. Bioethanol is the largest segment of the market at 83%, and North America accounts for 74% of consumption. All figures are based on sales of biodiesel and bioethanol through retail service stations and wholesalers.

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