BIOMASS HUB

According to the report “Biofuels – A Global Market Overview” available at the global market for biofuels is projected to grow by a CAGR of 12.9 percent during the period 2006-2015 to reach US$ 61.5 billion by 2015.

Biofuels have seen a bump in the U.S. and the EU, with the latter planning to increase its annual production to about 10% of its liquid fuels by 2020.  The United States has set up an ambitious target to produce about 8 billion gallons annually by 2012 and about 40 billion gallons by 2022 through the revised Renewable Fuel Standard (RFS2).