The growing demand for energy owing to growing global population has been posing a serious challenge to the world. In addition, rapid climate changes due to increasing GHG emission pose a major environmental threat. Biorefinery emerged as the most viable option both which can bridge the gap environmental sustainability and economic growth in the long run.
Biorefinery market is still in its nascent stage and is expected to grow at a rapid pace over the next decade on account of growing environmental concerns. In addition, mandates and policies across the globe is expected to further push the demand for biomass derived products. Low –carbon Fuel Standard introduced in California requires the fuel providers to reduce GHG emissions by 10% by the year 2020. In addition, depleting fossil fuel reserves across the globe has been prompting the industry to shift their focus towards bio-fuels in order to cater to the growing energy demand.
Biomass based products has triggered interest from numerous end use industries including agriculture, transportation, chemicals and aviation. However, the industry is circled by challenges such as establishing necessary infrastructure. In order to overcome such a challenge, major players in the industry has been focusing in employing the best possible technologies (for gasification, fermentation and chemical conversion) to ensure that these bio-based products reach a break-even point. Industry participants have been focusing on the overall supply chain of biomass products i.e. from raw material to the end use industries via distribution centers.
Biorefinery act as a platform for producing numerous biomass derived products which are capable to replace fossil fuel based products. Replacement products are similar in chemical composition but are manufactured using different raw material. Some of major biomass based products which are currently being produced or under investigation include lactic acid, succinic acid, ethylene, xylitol, astaxanthin, polylactic acid, viscose, PLA blend and transportation fuel. These chemicals/fuel are being produced using various renewable raw materials such as sugar/starch, vegetable oil, lignocellulosic biomass, jatropha oil and micro algae.
Grand View’s market research study takes a closer look at the biorefinery industry, providing a holistic perspective on market dynamics, trends, supply and demand. Our report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro level. The study aims at providing granular information, regarding estimates and forecasts for key technologies including physio-chemical technology, industrial biotechnology, thermo-chemical technology and advanced biorefinery technology among others. The report also provides the same level of information for key regional markets.
The research report analyzes various factors which has been driving and inhibiting the global biorefinery market in the past. In addition, the research report analyzes the impact of each driver and restraint on the market growth based on which the market is forecasted. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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