The sub-Saharan African biofuels market should experience rapid growth in the next five years, despite serious challenges to its development. The high targets set by the EU and US for the inclusion of biofuels in their fuel supply are a key driver for biofuels projects in the region, along with the intensified government support.
According to the new analysis from Frost & Sullivan titled "Sub-Saharan African Biofuels Market," this market will earn revenues of $26.9 million in 2009 and is projected to reach $229.9 million in 2017.
It's obvious that many countries in the region have suitable climates and available land to grow feedstock. However, delays in formulating and implementing the regulatory framework for biofuels production have been a major restraint for the development of the market. Add bad infrastructure to the mix, and you get the complete picture why it's challenging for biofuels manufacturers to make some serious money.
However, many foreign organisations and local commercial farmers have invested in land or have made agreements with out-growers for growing energy crops and setting up pilot production facilities, ensuring that production can begin once the regulations are in place…
Additional details are available from Frost & Sullivan's website.