A Critical Review of Biofuels as an Alternative Fuel to Diesel in Gulf Regional Corporation (GCC) Region: Current Market Trends and Future Opportunitie
https://doi.org/10.26552/com.C.2022.1.B67-B73
Abstract
Bio Fuels are considered as good alternatives for conventional fossil fuels. By the year 2020, in the GCC region these fuels are able to meet around 0.5 - 1% of total transportation fuel demand. This industry grew at rate of 3.4% over the period of 2015-2020 with a strong projected growth in the Kingdom of Saudi Arabia (KSA). Bio fuels are used to operate automotive for mining and construction industries. Critical barriers in foreign investments pose a major challenge for growth of this sector in the GCC region.
The presented work discusses situation and growth predictions of Bio-Fuel industry in the GCC region. It also discusses about current growth, trends, opportunities and challenges being faced by major companies operating in the GCC region.