Fuelled by the demand for sustainable clean fuels, coupled with a favourable regulatory climate, increased government initiatives for eco-friendly alternative fuels, and with global energy consumption projected to increase 28% by 2040, the European and North American biofuel markets is expected to see significant growth over the next few years. Major blending mandates that drive the demand for biofuels have been set in the US and Europe. These countries have a target of achieving 15-27% blend of biofuels with conventional fuel by 2020-2022, which is expected to drive demand in their respective regions.
Ethanol and Biodiesel remain the most popular fuels, however increasingly advanced liquid biofuels produced from feedstock such as lignocellulosic, waste oil, fats, and municipal waste count as a viable option to decarbonize energy sectors in a cost-effective way in industries such as aviation, shipping, and freight. However, limited feedstock availability, keeping up with advancement