Global Biorefinery Market is Expected to Grow with 14% CAGR During 2015 to 2020 By P&S Market Research
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.
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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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The
information and data in the publication “Global
Biorefinery Market Size, Share, Development, Growth and Demand Forecast to 2020”,
represents the research and analysis of data from various primary and secondary
sources. A top down approach has been used to calculate the market size. P&S
Market Research analysts and consultants interacted with leading companies of
the concerned domain to substantiate every value of data presented in this
report. The company bases its primary research on discussions with prominent
professionals and analysts in the industry, which is followed by informed and
detailed, online and offline research.
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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GLOBAL BIOREFINERY MARKET SEGMENTATION
By Technology
·
Industrial
Biotechnology
·
Physico-Chemical
·
Thermochemical
GEOGRAPHICAL
SEGMENTATION
By Region
North
America
Europe
Asia-Pacific
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