The Global Biorefinery Market Size is valued at 156.36 billion in 2022 and is predicted to reach 336.39 billion by the year 2031 at a 9.06% CAGR during the forecast period for 2023-2031.
The market for biorefineries is still in its infancy, but it is anticipated to expand rapidly over the next ten years due to rising environmental concerns. Mandates and regulations worldwide are also expected to increase demand for goods made from biomass. The California Low-carbon Fuel Standard mandates that fuel suppliers cut GHG emissions by 10% by 2020. Also, the industry has been forced to turn its attention to biofuels due to the world's diminishing fossil fuel supplies to meet the rising need for energy.
Several end-use industries, including agriculture, transportation, chemicals, and aviation, have expressed interest in biomass-based goods. Yet, the sector needs help with building the required infrastructure. Major players in the market have been concentrating on applying the best technologies (for gasification, fermentation, and chemical conversion) to ensure that these bio-based products reach a break-even point to overcome this obstacle. Participants in the industry have been concentrating on the entire biomass product supply chain, from raw materials to end-use enterprises via distribution centers.
Recent Developments:
- In May 2022, The Panamanian government collaborated with a group of top energy businesses, led by SGP BioEnergy, to build the largest centre for the production and distribution of biofuels in the entire globe. The Biorefineria Ciudad Dorada (Golden City Biorefinery), which will be built in Colon and Balboa, Panama, in five years, will be the world's biggest advanced biorefinery and Sustainable Aviation Fuel (SAF) production platform, producing 180,000 barrels of biofuel per day (2.6 billion gallons annually).
Competitive Landscape:
Some of the Biorefinery market players are:
- AB HOLDING SPA (Italy)
- Assam Biorefinery Private Limited.,
- Borregard AS,
- BP PLC
- BTS Biogas Srl/GmbH (Italy)
- Chempolis (Finland)
- Clariant
- Cargill Incorporated,
- Godavari Biorefineries Ltd.,
- Honeywell International Inc. (U.S.)
- IES BIOGAS srl (Italy)
- Neste
- Ørsted A/S (Denmark)
- Renewable Energy Group,
- Sekab, Green Plains Inc.,
- TotalEnergies,
- UPM Global (Finland)
- Valero
- Versalis SpA.
- Vivergo Fuels
- Wilmar International Ltd.
- Zea2 Bioworks (U.S.)
Market Segmentation:
The Biorefinery market is segmented based on type, product, and technology. Based on type, the market is segmented as the first, second, and third generation. The product segment includes energy-driven and material driven. By technology, the market is segmented into industrial biotechnology, physicochemical, and thermochemical.
Based On Type, The First-Generation Biofuels Segment Is Valued As A Major Contributor To The Biorefinery Market
The first-generation biofuels category will hold a significant share of the global Biorefinery market in 2021. The biomass directly related to first-generation biofuels, such as ethanol and biodiesel, is frequently edible. Typically, GMO or conventional yeast strains like Saccharomyces cerevisiae ferment C6 carbohydrates, primarily glucose, to generate ethanol. Only a few different feedstocks are utilized to synthesize first-generation bioethanol, primarily sugarcane or corn.
Thermochemical Segment Witnessed Growth At A Rapid Rate
The thermochemical segment is projected to grow at a rapid rate in the global Biorefinery market. Multiproduction is a promising option for thermochemical biorefineries looking to lower investment risk. It encourages revenue diversification, makes it possible to integrate materials and energy more effectively, and increases profitability, all of which could help thermochemical biorefineries develop more effectively in the future.
In The Region, The North America Biorefinery Market Holds A Significant Revenue Share
One of the largest aviation markets may be found in the North American continent, which also has a well-established fossil fuel-based infrastructure for land transportation. In order to reduce the greenhouse effect, North America has been at the forefront of reducing emissions. With noteworthy investments in R&D and a large number of biofuel patents to its name, the United States is the region's top producer of advanced biofuels. The United States produced 643 thousand barrels of oil equivalent of biofuel a day in 2021, up roughly 7.1% over the previous year's value, according to the BP Statistical Review of World Energy 2022. (602 thousand barrels of oil equivalent per day).
Biorefinery Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 156.36 Bn |
|
Revenue forecast in 2031 |
USD 336.39 Bn |
|
Growth rate CAGR |
CAGR of 9.06 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Type, Product, And Technology |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Valero, TotalEnergies, Neste, Renewable Energy Group, Vivergo Fuels, Borregard AS, Wilmar International Ltd., Godavari Biorefineries Ltd., Assam Biorefinery Private Limited., Sekab, Green Plains Inc., Cragil Incorporated, Clariant, Versalis SpA., and BP PLC. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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