With the emergence and long-term Impact of COVID-19, Global Biorefinery Market to reach USD 81.03 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Biorefinery Market points towards a potential rise to USD XXX Million by 2030. A biorefinery is a facility that uses machinery and procedures for converting biomass into fuels, electricity, chemicals, materials, food, and animal feed. It is an environmentally friendly way to transform biomass into a variety of bio-based goods and bioenergy. A biorefinery produces a variety of compounds by fractionating an initial raw material into several intermediates, such as carbohydrates, proteins, and triglycerides, which can then be processed into products with added value.
Cascading phase is the name given to this stage of refining. The growing investments in the infrastructure needed to set up biorefineries have boosted in response to the rising need for clean energy fuels. Accordingly, the increase in demand for biofuels and bio-based polymers, coupled with rapid industrialization and urbanization are the prominent factors that are boosting the demand for biorefinery across the globe.
Geographically, the global Biorefinery market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). The Asia Pacific dominated the market in terms of revenue, owing to the high production and usage of biofuel and the rising number of government policies. Whereas, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising government expenditure on bioenergy development initiatives, as well as increasing focus on sustainable energy development and reducing its carbon footprint in the market space.
The global Biorefinery market is highly competitive owing to the presence of several key players such as Honeywell International Inc., Chempolis, Sekab, Ørsted A/S, IES BIOGAS srl, AB HOLDING SPA, Zea2 Bioworks, UPM Global, Neste, BTS Biogas Srl/GmbH and others.
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Key findings of the study suggest:
- Global Biorefinery Market is anticipated to grow with a healthy growth rate of more than 8.6% over the forecast period 2022-2029.
- In the Process segment, Biochemical Processes emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to high production and usage of biofuel and the rising number of government policies.
- Europe is expected to grow at higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Feedstock:
- Starch & Sugar Crops
- Energy Crops
- Organic & Agricultural Residues
- Multifeedstock
- Others
By Process:
- Biochemical Processes
- Chemical Processes
- Mechanical/ Physical Processes
- Thermochemical Processes
- Multiprocess
By Product:
- Energy
- Chemicals
- Materials
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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