Center for Advanced BioEnergy Research, University of Illinois at Urbana-Champaign

Thursday, June 18, 2009

Pike Research Report Finds Biofuels Market Will Reach $247 Billion Worldwide By 2020 Despite Near-Term Challenges

Biofuels Journal
Date Posted: June 15, 2009

Boulder, CO—The widespread excitement surrounding the biofuels market opportunity has been tempered somewhat by its many challenges, which include limited availability of inexpensive feedstocks, ethical questions of food versus fuel, petroleum price volatility, global recession, and overcapacity of production.

However, a new report from Pike Research forecasts that, despite these significant challenges, the combined biodiesel and ethanol markets will reach $247 billion in sales by 2020, up from just $76 billion in 2010.

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