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Asia Pacific Biorefinery Market Size

Report ID: GMI9874
Published Date: Jun 2024
Report Format: PDF

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Asia Pacific Biorefinery Market Size

Asia Pacific Biorefinery Market was valued at USD 24.4 billion in 2023 and is anticipated to grow at a CAGR of 7.7% from 2024 to 2032, owing to increasing awareness about environmental sustainability and the need to reduce dependence on fossil fuels, fostering the demand for bio-based products. Additionally, government initiatives promoting renewable energy sources and biofuels are encouraging investments in biorefinery projects across the region. As the world's third-largest consumer and importer of oil, India is making concerted efforts to diminish its reliance on crude oil by shifting towards eco-friendly options like biofuels. The nation has set a goal to ramp up the blending of ethanol with gasoline to 20% by 2025.

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The abundant availability of biomass resources, such as agricultural residues and forest residues, further fuels market expansion. Technological advancements are also playing a crucial role, enhancing the efficiency and cost-effectiveness of biorefinery processes. Moreover, the rising demand for bio-based chemicals, materials, and biofuels in various industries, including pharmaceuticals, food and beverages, and automotive, is driving market growth.

Asia Pacific Biorefinery Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Biorefinery Market Size in 2023:	USD 24.4 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	7.7%
2032 Value Projection:	USD 45.4 Billion
Historical Data for:	2021 - 2023
No. of Pages:	350
Tables, Charts & Figures:	15
Segments covered:	Type, Technology, and Product
Growth Drivers:	Increasing Popularity as an eco-friendly fuel for road transportation Growing emphasis on reducing greenhouse gas emission Government initiatives for research endeavours and favourable regulatory measures
Pitfalls & Challenges:	High technology cost

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Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

Asia Pacific market for biorefinery was reached USD 24.4 billion in 2023 and is expected to register 7.7% CAGR from 2024 to 2032, owing to increasing awareness about environmental sustainability and the need to reduce dependence on fossil fuels in the region.

Asia Pacific biorefinery industry from the first-generation segment and is expected to reach over USD 12.7 billion by 2032, due to increased adoption of bioethanol and biodiesel production technologies.

China biorefinery industry is expected to surpass USD 8 billion by 2032 due to massive industrial base, government support for renewable energy, and significant investments in biorefinery technologies in the country.

Blue Son, Biogreen Synergy, Borregard, Chevron, Caterpillar, Coasan, DuPont, Future Fuel, Green Plains, Montuk Renewables, and Neste, are some of the major biorefinery companies from Asia Pacific.