With a compound annualized growth rate of 6.1% in the period 2018-25, the market for Biofuels and bioenergy is expected to grow in value to $1512.3 in 2025 from $928.0 billion in 2017. Natural sources of energy from the heat of the sun, the kinetic energy in tides and wind are converted to usable electricity. With an increase in the policy framework for the development and utilization of renewable energy such as biofuels, wind and solar this trend will incline more to renewable energy. China has already set in motion such policies by creating a law to develop renewable energy in the medium and long run.
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