Second and Third Generation Biofuels Market Growth Analysis and Regional Forecast to 2022 tusharJune 2, 2021 2 Second and third generation biofuels market is expected to grow at a substantial growth rate during the forecast period, owing to factors such as support by governments globally in the form of blending mandates. In addition, funding by various private & government organizations to support R&D in the field of advanced biofuels, environmental benefits related to advanced biofuels over conventional first-generation biofuels, and rise in awareness among public for energy security supplement the second and third generation biofuels market growth. However, issues such as high investment expenses at initial stages and lack of land availability for growing raw material crops are expected to hamper the market growth during the forecast period. Asia-Pacific region provides lucrative opportunities to key players for setting up new manufacturing plants and investments in the market, owing to abundant raw material availability, favorable environmental regulations, and low manufacturing costs.