The results of the latest Biofuels Digest/BIO Quarterly Business Outlook Survey show that 85 percent of bioenergy industry executives say they are more optimistic than 12 months ago both about their organization’s prospects for growth and industry growth. Biofuels Digest drew comparisons to the previous two Business Outlook Surveys, conducted in September 2010 and December 2010.
Nearly 20 percent of respondents predicted that their organization’s revenue would increase 11 to 24 percent in the coming year, while an additional 17 percent predicted more modest growth in the 5 to 10 percent range. Likewise, more than 40 percent of respondents projected industry revenue growth in the 5 to 10 percent range.
The biggest drivers of growth for organizations, each identified by more than 40 percent of respondents, were rising demand for alternative fuels, new technology or intellectual property, and partnering in R&D, production and marketing.
The survey received responses from more than 700 executives in the bioenergy sector.