GCC Algae Biofuel

Prospects Market

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Description
Algae Biofuel Prospects Market - GCC Industry Analysis and Opportunity Assessment
2014 - 2020
Algae biofuel is an alternative fossil fuel that uses algae to generate Biodiesel, Biobutanol,
Bio gasoline, methane, ethanol, hydrogen derived renewable fuel and jet fuel. Half of
algaes composition by weight is a lipid oil. This has been targeted to convert it into bio
diesel that will burn more efficiently than the conventional petroleum. Algae was first
discovered as a fuel alternative in 1978 under the leadership of US president Jimmy
Carter at a time when fuel prices were high, demand was high, and supply was low and
depleting at the same time, the costs of exploring fuel fields and carrying out oil refining
procedures were exorbitantly high and continued to skyrocket.
A new concept of alga culture has come up to produce bio fuels. Algae costs more per
unit than other bio fuel crops but is claimed to yield 10 to 100 times more fuel per unit
area. In 2014, the prices of oil were between US $ 56 to US $ 120 per barrel. The cost of
producing micro algal biomass in 2014 was US $ 2.95/kg through photo bioreactors. If the
annual biomass production capacity is increased to 1000 tons then the cost will reduce to
US $ 1.5/kg for a litre of crude oil.
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The extraction of biofuels from algae is largely dependent on organic solvents such as
benzene. The companies that are working on innovating algal biofuel technology are
Algenol Biofuels Inc., Blue Marble Productions, Solazyme Inc., Sapphire Energy Inc.,
Gulf Cooperation Council (GCC) is estimated to achieve 1.6% of the world GDP according
to the World Bank. The GCC crude oil production in 2020 is forecasted to be
approximately 24 million barrel/day. Although GCC countries are the leaders in fossil fuel
production, but are taking initiatives for large scale production of renewable sources of
energy.

Algae biofuels presents a great opportunity to compensate the environmental impact of

the oil and gas industries in the GCC. GCC has a wide coastline that stretches across its
countries and is ideal for algae production. The carbon dioxide emissions from oil and
power refineries can be effectively utilized and the climate is also favourable for algae
cultivation. The waste water treatment plants are also a vital source of algae. Bio fuel is
likely to be an addition to the energy mix of GCC countries in the foreseeable future,
rather than a competitor to petroleum based oil. This scenario in GCC will be a reality in
the long run if the technology required for it, for instance, photo bioreactors becomes a
feasible option.
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The US Government strongly backs the research on bio fuels and is pledged to invest US $
24 million to commercialize algae based biofuels. Several Governments now have started
funding initiatives to make biofuel commercially available for satisfying the future wants
of the world and it will impact GCC positively. The world needs a new form of fuel that is
clean, sustainable, environment friendly, renewable and cheap. Bio fuels is likely to be a
success story and an economically accessible alternative that will save it from the energy
crisis.
GCC Algae Biofuel Prospects Market, Algae Biofuel Prospects Market Analysis, GCC Algae
Biofuel Prospects Market Segments, GCC Algae Biofuel Prospects Market Forecast
Regional analysis includes
Gulf Cooperation Council (GCC)
The report is a compilation of first-hand information, qualitative and quantitative
assessment by industry analysts, inputs from industry experts, and industry participants
across the value chain.
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