The global [FURL=https://www.reportsanddata.com/report-detail/algae-biofuel-market]Algae Biofuel market[/FURL] is forecasted to reach USD 11.35 Billion by 2027 at a CAGR of 8.8%, according to a new report by Reports and Data. The ever-rising demand for fuel in different end-use enterprises, combined with the rising requirement for green and feasible wellsprings of vitality, is a key supporting for the fast advancement of the green growth biofuel showcase.The COVID-19 impact:
COVID-19 has impacted the market negatively. The weaker consumer demand for lifestyle and well-being products due to the imposition of lockdown and social restrictions will have a negative impact on the demand for fuel and transportation. The COVID-19 pandemic has crippled various industries, along with public construction. The activity will more likely cease due to the imposition of lockdown and social distancing, and work will halt due to the supply chain disruption, the termination of contracts to control expenses, and the shortage of subcontractors and materials.
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Key participants include Algenol, Blue Marble Production, Sapphire Energy, Solazyme Inc., Culture Biosystem, Origin Oils, Genifuels, Algae system, Solix Biofuels, Reliance life Science, among others.
Further key findings from the report suggest
Algal oil is utilized as a wellspring of unsaturated fat supplementation in food items, as it contains mono-and polyunsaturated fats, specifically EPA and DHA.
The growing interest in biofuels because of its lower carbon impression over the globe is relied upon to drive income development of the worldwide Algae oil showcase over the figure time frame.
Be that as it may, parameters required for the development of green growth, for example, stickiness and temperature, are central points expected to limit income development of the green growth oil showcase over the estimated time frame.
Extraction Type Outlook (Revenue, USD Million; Volume, Million Gallons; 2017-2027)
Hexane Solvent Method
Lipid Extraction Method
Supercritical Fuels Method
Others
Form Outlook (Revenue, USD Million; Volume, Million Gallons; 2017-2027)
Solid
Liquid
Gaseous
Application Outlook (Revenue, USD Million; Volume, Million Gallons; 2017-2027)
Vehicular Fuel
Energy Generation
Heat Generation
Cleaning Agent
Others
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End-Use Industry (Revenue, USD Million; Volume, Million Gallons; 2017-2027)
Automotive & Transportation
Aerospace & Defense
Others
Regional Outlook (Revenue, USD Million; Volume, Million Gallons; 2017-2027)
North America
US
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia Pacific
Middle East And Africa
Saudi Arabia
Rest of Middle East and Africa
Latin America
Brazil
Rest of Latin America
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