Biorefinery Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product (Energy, Chemical and Material), By Production Facility Size (Small and medium-sized production facility, and large production facility), By Feedstock, (Primary Biomass and Secondary Biomass), By Process (Thermochemical, Biochemical, Chemical, and Mechanical & Thermomechanical), By

Global Biorefinery

Rise in Interest Towards Environmental Sustainability

The increased concentration of Green House Gases (GHGs) is causing dramatic climatic changes such as temperature rise, changes in rainfall distribution, intensity, and pattern, rising sea levels, floods, droughts, along with increased occurrence of extreme climatic phenomena, all of which is known to cause global warming”. Biofuels, biopower, and bioproducts are replacements for fossil fuels and can help lower greenhouse gas emissions and create economic opportunities among consumers and industries.

Technological Advancements and Increasing Investment in Biorefinery Market

The potential benefits of biorefining for businesses and society are enormous. Bioenergy is used on a large scale which enhances the environment as it is a renewable resource and its production and consumption result in low greenhouse gas emissions and in some cases come up to zero. Bioenergy also improves national and international security by reducing U.S. dependence on foreign oil, especially Middle Eastern oil, and military spending. Additionally, the macroeconomic situation of rural communities would be improved by bioenergy because the demand for agricultural products such as energy crops could potentially increase to a level. Therefore, to support the demand for agricultural products there are some investments done by government to support Biorefineries are

US Department of Energy provides up to USD 100 million for research and development for biomass conversion to fuels and chemicals, including R&D for improved production and recycling of biobased plastics.

India launched “Innovation Roadmap of the Mission Integrated Biorefineries” as India aims to achieve missions like clean energy by 2030. 500-Gigawatt non-fossil energy capacity, reduced carbon intensity by 45% over 2005 levels, and net zero emissions by 2070.

The Government of Uttar Pradesh proposed six biofuel investment of almost USD 211 million.

Formation of Climate Act and the Climate Policy Framework, aims to decrease 70% transport sector’s climate impact by 2030, compared with 2010. This reduction can be achieved by increasing proportion of renewable fuels such as biofuels.

Rise in Innovations and Developments from Market Players

Biorefinery is considered to be a sustainable concept for the transformation of biomass into a extensive range of products. Biorefinery is a critical element of a circular economy and involves closing stream loops and multiple outputs. Therefore, companies and businesses are increasingly focusing on the innovations and development of biorefineries. For instance

Fintoil, and Neste Engineering Solutions, collaborated and adopted EMERSON AUTOMATION SOFTWARE AND TECHNOLOGIES to maximize the operational performance of its biorefinery plant to produce advanced biofuel and biochemical feedstocks, helping lower emissions and reduce dependence on fossil-based fuels.

Fluctuations in global economy

The global economy is facing high fluctuations due to pandemic and Russia’s invasion of Ukraine. Biomasses provide several socio-economic and environmental benefit, it has impacted the biorefineries market. Moreover, with the stringent laws and regulations among various countries have impacted the biorefineries market. As, in many countries, waste regulations have become increasingly strict. Therefore, flexible approach to waste regulation is required to make sure that potentially useful waste feedstocks from bio refining.

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Market Segmentation

The Global Biorefinery Market is divided into Product, Production Facility Size, Feedstock and Process. Based on Product, the market is divided into Energy, Chemical and Material. By Production Facility Size, the market is divided into small and medium-sized production facility, and large production facility

Market Players

Valero Energy Corporation, Honeywell UOP, Renewable Energy Group, Neste, Abengoa, Godavari Biorefineries Ltd., Sekab, TotalEnergies, Borregard AS and Vivergo Fuel

Key developments

In March 2021, Valero Energy Corporation and BlackRock Global Energy & Power Infrastructure partnered with Navigator Energy Services, to develop an industrial scale carbon capture pipeline system (CCS). The CCS provides an energy transition through innovation in renewables such as biorefineries.

In April 2021, Honeywell and Brazil-based ECB Group collaborated to use UOP Ecofining process to convert vegetable oils and inedible animal fats into renewable diesel and jet fuel.