The global biorefinery market is expected to reach USD 210.3 billion by 2027 from an estimated USD 141.8 billion in 2022, at a CAGR of 8.2% from 2022 to 2027
Due to environmental concerns and the limited resources, interest in bio-based polymers is rising. Bio-based polymers offer new combinations of features for brand-new applications in addition to…
Due to environmental concerns and the limited resources, interest in bio-based polymers is rising. Bio-based polymers offer new combinations of features for brand-new applications in addition to replacing existing polymers in a number of applications.
New York, Dec. 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biorefinery Market by Type, Technology, Product and Region - Global Forecast to 2027" - URL Due to an increase in demand for green chemicals around the world, the demand for bio-based polymers is expected to grow significantly during the forecast period. The biorefinery market growth is further fueled by stringent regulatory laws governing the use of synthetic polymers.Industrial Biotechnology: The largest segment by technology in the biorefinery marketBased on the type of biorefinery, the industrial biotechnology segment is expected to exhibit the largest market share from 2022 to 2027.Industrial biotechnology includes both production of bio-based products including fuels, chemicals, and plastics from renewable feedstocks as well as the application of biotechnology-based tools to traditional industrial processes known as bioprocessing.The capacity of integrated biorefineries to produce numerous products and value streams made possible by industrial biotechnology is seen to have the potential to change the economics of industrial production. Economic advantage, high performance, and environment-friendly products are three key factors responsible for the successful market penetration of large-scale bio-based industrial products.Energy driven: The largest segment by product in biorefinery marketEnergy driven segment accounted for the largest share in the global biorefinery market, by product segment.The key factor expected to drive the growth of the segment is the shift in government policies to support the use of renewable energy across industries.However, other factors, including increased cost of fossil fuel, rise in demand for fuel for automobiles, and specialized policy designed to encourage the use of biofuel, impact the growth and boost the use of biofuel globally.Americas: The largest region in biorefinery marketThe market in Americas accounted for the largest share in the global biorefinery market during the forecast period.The Americas is expected to dominate the market due to the increasing efforts to develop forest-based biorefineries in the region.Countries, such as the US, Canada, and Mexico are investing significantly in new projects related to the production of biofuels and developing new technologies to produce bio-based products. The region has witnessed a rapid growth in electricity demand in recent years, due to the growing population, increasing per capita income, and a growing number of bio-based refineries, coupled with urbanization.Breakdown of Primaries:In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:• By Company Type: Tier 1- 55%, Tier 2- 30%, and Tier 3- 15%• By Designation: C-Level- 30%, Director Level- 20%, and Others- 40%• By Region: Asia Pacific- 25%, Americas- 40%, Europe- 26%, Middle East & Africa- 10%Note: Others include sales managers, engineers, and regional managers.Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 millionThe leading players in the biorefinery market include Renewable Energy Group (US), Neste (Finland), TotalEnergies (France), Valero (US) and Vivergo Fuels (England).Research Coverage:The report explains, describes, and forecasts the global biorefinery market, by type, product, technology, and region.It also offers a detailed qualitative and quantitative analysis of the biorefinery market.The report provides a thorough review of the major market drivers, restraints, opportunities, and challenges.It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the biorefinery market.Key Benefits of Buying the Report1. The report identifies and addresses the key markets for biorefinery, which would help biorefinery participants review the growth in demand.2. The report facilitates system providers to understand the pulse of the market and offers insights into drivers, restraints, opportunities, and challenges.3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.Read the full report: URL ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________