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The combined global biodiesel and ethanol markets will reach $247 billion in sales by 2020, up from $76 billion in 2010, Pike Research of Boulder said Monday.
Pike Research said it anticipates three key waves of biodiesel development over the next several years:
– Fuels based on waste greases will reach market in 2010.
– Jatropha-based fuels will begin having a significant impact on the market in 2014. Jatropha are plants native to Latin America that produced oil used to make biofuels in other countries.
– Algae-based biodiesel will achieve commercial availability in 2012, Pike Research predicts, and will have a larger market impact beginning in 2016.
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