Algae Market will be worth $1.5 Billion by 2015
A report by Global Information Inc. titled “Algae Biofuels Production Technologies Worldwide” stated that the algae market, currently worth a little over 250 million, will grow over the next several years.
What is the outlook for the algae biofuels production technologies market?
Cultivation technology sales are expected to make up the majority of the total algae biofuels production technologies market. A combination of harvesting, extraction and fuels production facilities will account for the remaining market segments, which will bring the total forecasted market value to be over $1.6 billion in 2015. According to the study, “Starting at an estimated $271 million market size for 2010, this increase is significant and underscores that this is a quickly changing and evolving industry, expected to show and annual growth rate of nearly 43 percent.”
It will be interesting to see if the predictions in this report holds true over the next couple years. Be sure to read the rest of the press release and check out the report as well. The release can can be found here: http://www.mmdnewswire.com/press-release-distribution-9774.html
