The global biorefinery market was valued at $432.4 billion in 2014, and it is expected to grow with a CAGR of 14.0% during 2015 - 2020. The factors driving the growth of the global market include government initiatives and increasing pressure for environmental sustainability, need for geopolitical energy security, technological advancements and increasing investment in the biorefinery market, and increasing need for energy independence. The global biorefinery market is at its nascent form. Currently, there are very few large scale biorefineries, as compared to conventional petroleum-based refineries across the globe. Hence, the massive unexplored biorefinery market across the world is expected to attract more investors and new players to explore the potential of the market. Moreover, the high rate of depletion of fossil fuels is creating demand for sustainable and ecofriendly energy source, thus providing abundant opportunities for the major players in the global market.
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Biorefinery facilitate the conversion of different bio-based feedstocks into several useful products, such as energy, chemicals, and materials. The different processes used for the conversion of biomass into energy and other products are thermochemical processes, biochemical processes, chemical processes and mechanical processes.
In 2014, North America held the largest share in the global market. The major reasons behind the growth of the biorefinery market in the region are high demand for energy independence and energy security, stringent environmental regulations, and high investment for the development of biorefineries. Moreover, Asia-Pacific is anticipated to witness the fastest growth with a CAGR of 17.2%, during the forecast period.
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This research offers actual historical market size for the period 2011 – 2014, estimate for 2015, and market forecast for the period 2016 – 2020. The ‘forecast period’ in the report refers to the period 2015 – 2020.
GLOBAL BIOREFINERY MARKET
- By Technology – Industrial Biotechnology, Physico-Chemical and Thermochemical
- By Region – North America, Europe, Asia-Pacific, and Rest of the World
GLOBAL BIOREFINERY MARKET, BY GEOGRAPHY
- North America Biorefinery Market Breakdown by Technology
- Europe Biorefinery Market Breakdown by Technology
- Asia-Pacific Biorefinery Market Breakdown by Technology
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