Biorefinery Market to Surpass USD 62.20 Billion by 2030 owing to Rising Demand for Sustainable Solutions and Growing Bio-Based Chemicals | By SNS Insider
Based on SNS Insider’s research, the biorefinery market is poised for substantial growth, driven by a convergence of sustainability imperatives, technological advancements, supportive policies, and evolving consumer preferences.
Pune, Aug. 11, 2023 (GLOBE NEWSWIRE) — As per the SNS Insider report, “The Biorefinery Market attained a valuation of USD 140.9 billion in 2022. Forecasts indicate a projected expansion to USD 268.62 billion by 2030, characterized by a compound annual growth rate (CAGR) of 8.4% during the forecast period spanning 2023 to 2030”.
Market Report Scope
In a world where sustainable resource utilization is of paramount importance, the concept of biorefinery has emerged as a pioneering solution. Biorefinery represents a transformative approach to harnessing the inherent potential of biological resources, facilitating the conversion of biomass into an array of valuable products, ranging from biofuels and biochemicals to materials and energy. By minimizing waste generation and maximizing resource efficiency, biorefineries play a pivotal role in driving the transition towards a more environmentally conscious and economically viable future.
Download Free PDF Sample Report: https://www.snsinsider.com/sample-request/2697
The biorefinery market is experiencing robust growth, driven by a confluence of factors that reflect both the increasing demand for sustainable alternatives and advancements in technology. Biorefineries have emerged as versatile hubs that integrate various biomass feedstocks and employ advanced processes to produce a spectrum of valuable bio-based products. Many governments are implementing favorable policies and regulatory frameworks that incentivize the adoption of renewable energy sources and bio-based products. Subsidies, tax incentives, and mandates for blending biofuels with conventional fuels are driving investments in biorefinery projects and promoting their growth. Rapid advancements in biotechnology, including genetic engineering and metabolic pathway optimization, have significantly enhanced the efficiency of biorefinery processes.
Biorefinery Market Overview & Scope:
|Market Size in 2022||USD 140.9 billion|
|Market Size by 2030||USD 268.62 billion|
|CAGR||CAGR of 8.4% From 2023-2030|
|Key Segments||By Product (Energy, Chemical, Material, and Others)
By Type (First Generation, Second Generation, and Third Generation)
By Technology (Industrial Biotechnology, physicochemical, Biochemical, and Thermochemical)
By Feedstock (Starch & Sugar Crops, Energy Crops, Organic & Agricultural Residues, Multifeedstock, and others),
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe), Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)|
|20% free customization scope (equivalent to 50 analyst working hours)||If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization.|
|Pricing & Purchase Options||Avail customized purchase options to meet your exact research needs. Explore purchase options.|
Impact of Recession
While a recession poses several challenges to the biorefinery market, it also presents unique opportunities for growth and adaptation. Navigating these uncertain times requires a proactive approach from industry players, policymakers, and stakeholders. By leveraging innovation, collaboration, and sustainable practices, the market can weather the storm of recession and emerge as a resilient and vital component of a greener and more sustainable future.
Impact of Russia-Ukraine War
The Russia-Ukraine war has introduced a range of challenges and uncertainties for the biorefinery market. The extent of the impact will depend on various factors, including the duration of the conflict, diplomatic resolutions, and the ability of industry players to adapt to changing circumstances. As with any global event, careful monitoring and strategic planning will be essential for stakeholders in the biorefinery sector to navigate the evolving landscape effectively.
Key Regional Development
In North America, particularly the United States and Canada, the biorefinery market is gaining traction due to stringent environmental regulations and a push towards reducing carbon emissions. The Asia-Pacific region is witnessing rapid urbanization and industrialization, leading to increased waste generation and a greater need for alternative energy sources. Countries like China, Japan, and India are investing in biorefinery projects. Europe stands at the forefront of the market, driven by ambitious renewable energy targets and circular economy principles.
Key Takeaway from Biorefinery Market Study
- As the global emphasis on sustainability and environmental responsibility intensifies, the biochemical and energy segments of the market are poised to dominate the landscape. These segments not only offer innovative solutions for replacing conventional fossil-based products but also contribute to the reduction of greenhouse gas emissions and the establishment of a more circular and sustainable economy.
- The ongoing advancements in biotechnology, process optimization, and policy support further solidify the crucial role of biochemical and energy biorefineries in shaping a greener future. Favorable government policies and incentives promoting renewable energy adoption have spurred investments in the energy segment of biorefineries, accelerating its growth and market dominance.
Recent Developments Related to Biorefinery Market
- In a remarkable endeavor that underscores the global push toward sustainable and renewable energy sources, a prominent German company has embarked on a groundbreaking project to convert South Bend’s ethanol plant into a cutting-edge biorefinery.
- In a bold move towards innovation and sustainability, Vertex Biofuels has embarked on an ambitious project to diversify the feedstock utilized at its cutting-edge biorefinery located in Alabama.
Buy Complete Research Report Which Provide Detail Impact Analysis of COVID-19, Russia-Ukraine War & Ongoing Recession: https://www.snsinsider.com/checkout/2697
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 Impact of Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.2.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Biorefinery Market Segmentation, By Product
9. Biorefinery Market Segmentation, By Type
9.1 First Generation
9.2 Second Generation
10. Biorefinery Market Segmentation, By Technology
10.1 Industrial Biotechnology
11. Biorefinery Market Segmentation, By Feedstock
11.1 Starch & Sugar Crops
11.2 Energy Crops
11.3 Organic & Agricultural Residues
12. Regional Analysis
12.2 North America
12.5 Middle East & Africa
12.6. Latin America
13 Company Profile
13.1.1 Market Overview
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Renewable Energy Group
13.4 Total Energies
13.5 Vivergo Fuel
13.6 Borregard AS
13.7 Wilmar International Ltd.
13.8 Godavari Biorefineries
13.10 Cargill Inc.
13.11 Honeywell International Inc.
13.14 Green Plains
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. USE Cases And Best Practices
About SNS Insider
At SNS Insider, we believe that businesses should have access to the best market intelligence and insights, regardless of their size or industry. That’s why we offer a range of solutions tailored to meet the unique needs of each client, from startups to big corporations. With a passion for our work and an unwavering commitment to delivering value, we are dedicated to helping our clients achieve their full potential.
CONTACT: Contact Us: Akash Anand – Head of Business Development & Strategy [email protected] Phone: +1-415-230-0044 (US)
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.