Besides, one of the advantages of utilizing microalgae is
that they can grow from distinct routes, such as photoautotrophic, heterotrophic, and mixotrophic. Through these
routes, different sources of organic and inorganic carbon are
assimilated. It is worth mentioning that it is crucial to select
the most suitable strain for oil production for biodiesel.
Typically, microalgae have an oil content between 20% and
50% of dry weight but can reach 70% (Khan et al. 2018;
Dias et al. 2019).
7 Economic Aspects
of the Commercialization of Microalgae
Biodiesel from Waste
The world is facing an energy crisis due to the progress of
industrialization and the high exploitation and depletion of
natural resources, such as fossil fuels. These represent about
88% of the total energy consumption (Amaro et al. 2012;
Shah et al. 2018). Biofuels are a promising new source of
energy; they are renewable and can be obtained through
existing biological resources (Cho and Park 2018).
Microalgae-based biodiesel and its economic viability
have received extensive academic exploration (Zhou et al.
2015; Beal et al. 2015). To be considered a viable substitute
for fossil fuels, the production of microalgae biodiesel needs
to have its high cost reduced, which may be possible through
technological and management innovations. Microalgae
stand out for growing without the need for considerable
territorial space and end up not competing with other food
crops for land use (Sun et al. 2019).
The economic viability of biodiesel production systems,
combined with the use of effluents, unfortunately, is not
widely discussed on a pilot and commercial scale. The vast
majority of techno-economic studies focus on photobioreactor or open lagoon processes. However, to fully understand the performance of wastewater use, some factors must
be considered, such as reducing waste treatment costs,
selling other generated by-products, such as bio-oil, biogas,
and biofertilizers (Xin et al. 2016).
According to the report by Grand View Research Inc.,
(2017), by 2025, the world market for biofuels for
microalgae is expected to reach US$ 10.73 billion, with an
8.8% growth rate due to research by alternative sources of
products to replace fossil fuels. Microalgae biodiesel has a
20 times higher yield than plant derivatives, serving as an
environmentally friendly source of biofuels (Milano et al.
2016). Namely, three criteria are essential when evaluating a
process for the biofuels industry: energetic, economical, and
mainly environmental and sustainability (Delrue et al. 2012).
According to Fig. 2, we can see the price of classic products
manufactured through traditional refinements and
biorefineries.
According to the monthly report of the International
Energy Agency (IEA), the value of the oil barrel is around
US$ 27–34, varying according to the exporting country (IEA
2020). Oil diesel and gasoline are fuels with higher demand
and global production; relatively low prices are quoted by
these, between US$ 0.85 and 0.75/L (Severo et al. 2019).
With the discoveries of oil exploration sources, natural
gas, pre-salt, shale gas, there is a reduction in the availability
of crude oil, an increase in prices, and expansion in search of
substitutes (Onukwuli et al. 2017). With this, explorations in
biorefineries appear, serving as a circular economy for biodiesel production through edible oils was produced. However, the cultures of edible vegetable oil, besides requiring
large tracts of land, could cause an economic crisis in the
food market due to rising prices; besides this, the production
cost is up to three times higher than traditional diesel (Deprá
et al. 2018).
According to Chen et al. (2018), the biodiesel cost based
on microalgae production is from US$ 0.42 to 22.60/L.
Based on a techno-economic study, Xin et al. (2016), evaluated that obtaining biofuel from microalgae produced with
wastewater is considered favorable, making the cost of this
bioproduct competitive with that of oil and more imminent
to the commercial reality.
According to Ventura et al. (2013), the use of industrial
wastewater in the microalgae cultivation reduces about 30% of
the total operating cost, reducing the cost of nutrients for biomass production by US$ 550,000/year. To improve economic
viability, higher biomass productivity and the lipid composition of microalgae must be explored for more considerable
expansion in biodiesel production. Concerning capital investments for microalgae biodiesel, these are still high.
Still, the primary contrast between the commercialization
of algae biodiesel and vegetable oil biodiesel is sustainability. For planting lipid-producing seeds are needed many
hectares and large amounts of water for irrigation. On the
other hand, the microalgae application in industrial waste
has emerged as an attractive service scale. It results in
low-cost production and lipid yield for the large-scale production of superior biodiesel, can be able to generate other
bioproducts with high added value, making it more realistic
—the biodiesel industrialization (Jacob-Lopes et al. 2019; El
Shimi and Moustafa 2018).
8 Concluding Remarks
Microalgae are widely hailed as one of the most sustainable
resources for biodiesel production. Nevertheless, the economic viability of the industrial production of microalgae
biomass is still in shadows of doubt. In this sense, the use of
industrial wastes is an option to upgrade the economic sustainability of the bioprocess, besides contributing to the
116
R. R. Dias et al.
that they can grow from distinct routes, such as photoautotrophic, heterotrophic, and mixotrophic. Through these
routes, different sources of organic and inorganic carbon are
assimilated. It is worth mentioning that it is crucial to select
the most suitable strain for oil production for biodiesel.
Typically, microalgae have an oil content between 20% and
50% of dry weight but can reach 70% (Khan et al. 2018;
Dias et al. 2019).
7 Economic Aspects
of the Commercialization of Microalgae
Biodiesel from Waste
The world is facing an energy crisis due to the progress of
industrialization and the high exploitation and depletion of
natural resources, such as fossil fuels. These represent about
88% of the total energy consumption (Amaro et al. 2012;
Shah et al. 2018). Biofuels are a promising new source of
energy; they are renewable and can be obtained through
existing biological resources (Cho and Park 2018).
Microalgae-based biodiesel and its economic viability
have received extensive academic exploration (Zhou et al.
2015; Beal et al. 2015). To be considered a viable substitute
for fossil fuels, the production of microalgae biodiesel needs
to have its high cost reduced, which may be possible through
technological and management innovations. Microalgae
stand out for growing without the need for considerable
territorial space and end up not competing with other food
crops for land use (Sun et al. 2019).
The economic viability of biodiesel production systems,
combined with the use of effluents, unfortunately, is not
widely discussed on a pilot and commercial scale. The vast
majority of techno-economic studies focus on photobioreactor or open lagoon processes. However, to fully understand the performance of wastewater use, some factors must
be considered, such as reducing waste treatment costs,
selling other generated by-products, such as bio-oil, biogas,
and biofertilizers (Xin et al. 2016).
According to the report by Grand View Research Inc.,
(2017), by 2025, the world market for biofuels for
microalgae is expected to reach US$ 10.73 billion, with an
8.8% growth rate due to research by alternative sources of
products to replace fossil fuels. Microalgae biodiesel has a
20 times higher yield than plant derivatives, serving as an
environmentally friendly source of biofuels (Milano et al.
2016). Namely, three criteria are essential when evaluating a
process for the biofuels industry: energetic, economical, and
mainly environmental and sustainability (Delrue et al. 2012).
According to Fig. 2, we can see the price of classic products
manufactured through traditional refinements and
biorefineries.
According to the monthly report of the International
Energy Agency (IEA), the value of the oil barrel is around
US$ 27–34, varying according to the exporting country (IEA
2020). Oil diesel and gasoline are fuels with higher demand
and global production; relatively low prices are quoted by
these, between US$ 0.85 and 0.75/L (Severo et al. 2019).
With the discoveries of oil exploration sources, natural
gas, pre-salt, shale gas, there is a reduction in the availability
of crude oil, an increase in prices, and expansion in search of
substitutes (Onukwuli et al. 2017). With this, explorations in
biorefineries appear, serving as a circular economy for biodiesel production through edible oils was produced. However, the cultures of edible vegetable oil, besides requiring
large tracts of land, could cause an economic crisis in the
food market due to rising prices; besides this, the production
cost is up to three times higher than traditional diesel (Deprá
et al. 2018).
According to Chen et al. (2018), the biodiesel cost based
on microalgae production is from US$ 0.42 to 22.60/L.
Based on a techno-economic study, Xin et al. (2016), evaluated that obtaining biofuel from microalgae produced with
wastewater is considered favorable, making the cost of this
bioproduct competitive with that of oil and more imminent
to the commercial reality.
According to Ventura et al. (2013), the use of industrial
wastewater in the microalgae cultivation reduces about 30% of
the total operating cost, reducing the cost of nutrients for biomass production by US$ 550,000/year. To improve economic
viability, higher biomass productivity and the lipid composition of microalgae must be explored for more considerable
expansion in biodiesel production. Concerning capital investments for microalgae biodiesel, these are still high.
Still, the primary contrast between the commercialization
of algae biodiesel and vegetable oil biodiesel is sustainability. For planting lipid-producing seeds are needed many
hectares and large amounts of water for irrigation. On the
other hand, the microalgae application in industrial waste
has emerged as an attractive service scale. It results in
low-cost production and lipid yield for the large-scale production of superior biodiesel, can be able to generate other
bioproducts with high added value, making it more realistic
—the biodiesel industrialization (Jacob-Lopes et al. 2019; El
Shimi and Moustafa 2018).
8 Concluding Remarks
Microalgae are widely hailed as one of the most sustainable
resources for biodiesel production. Nevertheless, the economic viability of the industrial production of microalgae
biomass is still in shadows of doubt. In this sense, the use of
industrial wastes is an option to upgrade the economic sustainability of the bioprocess, besides contributing to the
116
R. R. Dias et al.