India, which stood at fifth position in terms of energy consumption in the world in 2002, is now depending on other countries for fuel due to high energy demand. This increased the risk exposure of the country to the volatility of crude oil prices in the international market. With the increasing demand and rates in petroleum the usage of biofuel has been chosen as an alternative.
Biofuel is a solid or liquid or gas fuel derived from recently dead organic material especially photosynthetic plants, distinguishing from fossil fuels which are derived from long dead biological material. Biofuel is more advantageous than the other fuels like petroleum in reducing the greenhouse gases in the atmosphere and enhancing energy security.
The sugar or starch rich content plants or vegetable oil rich content plants have to be cropped from which biofuel can be produced. The oils derived from the plants such as ethanol and methanol are used as biofuels. The vegetable oils when heated become less viscous and can be either burnt directly in diesel engines or processed chemically for the production on biodiesel.
Feeling the heat of shooting oil prices, India commenced its biofuel journey in 2003. Currently, ethanol dominates the Indian biofuel sector. However, biodiesel is also expected to join the commercial stream soon as the phase one of pilot projects has already been completed. So being at the initial stage, but with huge potential in terms of production, the Indian biofuel industry will prove to be a good option for biofuel producers.
Bharatbook.com has included a new report titled “Emerging Biofuel Market in India” which will help the client to evaluate the current status and opportunities in the Indian biofuel market. It studies the Indian biofuel market in detail and based on past and current trends predicts the future direction of the market.
The key points discussed in the report are as following: Worldwide biodiesel production is expected to grow at a CAGR of over 5% from 2008 to 2017, Increased ethanol use is expected to supersede the production during the forecasted period, Domestic ethanol consumption in India is projected to expand at a CAGR of around 6.5% during 2008–2017, India’s total biodiesel requirement is projected to grow to 3.6 Million Metric Tons in 2011-12.
About Bharatbook.com:
Bharat Book Bureau facilitates companies to take the lead of their industry with best practice business strategies and intelligence, through a unique combination of published reports, databases, country reports, company profiles and customized research services. Bharat Book Bureau provides strategic information tools to the executives, business analysts, and knowledge managers that will help them to probe into and support critical, timely business decisions and strategies.
For further information kindly visit: http://www.bharatbook.com/
