Biorefinery Market - Potential Growth, Share, Demand and Analysis of Key Players by 2020

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.

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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. 

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.

Among the various technologies, the industrial biotechnology segment held the largest share in the global market in 2014, and is expected to witness a CAGR of 13.0% during 2015 – 2020.

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Some of the major players operating in the global biorefinery market are Abengoa Bioenergy SA, Neste, Pacific Ethanol Inc., Renewable Energy Group Inc., UOP LLC, and Valero Energy Corporation.

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Created on Jun 14th 2018 01:58. Viewed 393 times.

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