Biorefinery Market Size - By Type (First Generation, Second Generation, and Third Generation), By Technology (Industrial Biotechnology, Physio Chemical, Thermochemical), Product (Energy Driven, Material Driven), & Forecast, 2024 - 2032

Biorefinery Market Size

Biorefinery Market was valued at USD 143.2 billion in 2023 and is anticipated to grow at a CAGR of over 7.2% from 2024 to 2032. Increasing demand for sustainable and eco-friendly processes in various industries, owing to rising government initiatives, will propel this market significantly. Biorefineries, generally convert biomass into a spectrum of valuable products, thereby broadening the range of biomass feedstocks and enhancing conversion efficiencies.
 

Biorefineries play a crucial role in this transition by offering a versatile platform to produce biofuels, biochemicals, and biomaterials from organic sources like agricultural residues, forestry by-products, and waste materials. Governments are backing for the adoption of biofuels stems from various factors including economic growth, alternatives to fossil fuels, and the creation of employment opportunities.
 

Biorefinery Market Trends

The strong emphasis on sustainability, technological advancements, and diversification of feedstocks, will witness a significant market growth. Companies in the sector are focusing on development of efficient and cost-effective processes that reduce environmental impact to meet the demand for bio-based products. Integrating digital technologies like big data analytics and automation is becoming prevalent to optimize operations and increase productivity.
 

Utilization of a wider variety of feedstocks will enhance supply chain resilience and open new avenues for product innovation and market expansion. Collaborations between biorefinery operators, research institutions, and government bodies are also on the rise, fostering knowledge exchange and joint efforts to address sustainability challenges and drive further growth in the bio-based economy.
 

Biorefinery Market Analysis

Based on type, the first-generation segment will exceed USD 135.5 billion by 2032 due to its reliability and established infrastructure. First-generation biorefineries utilize conventional feedstocks such as corn, sugarcane, and vegetable oils, leveraging existing agricultural practices and processing technologies. Consequently, they offer lower capital costs and faster deployment timelines compared to their second and third-generation counterparts. While second and third generation biorefineries offer potential advancements in sustainability and feedstock flexibility.
 

Based on technology, the industrial biotechnology segment will grow with CAGR of more than 6.5% through 2032 due to its ability to utilize renewable resources and produce bio-based products with lower environmental impact compared to traditional methods. Industrial biotechnology will leverage biological systems for solutions across agriculture, healthcare, and energy sectors. Genetic manipulation, and bioreactor innovation, will further facilitate efficient production of biofuels and biochemicals from renewable sources like biomass and waste.
 

North America biorefinery market is projected to surpass USD 104.5 billion by 2032 due to the increasing demand for bio-based products and the favorable regulatory environment supporting sustainable practices. The U.S., Canada, and Mexico play a crucial role in this market. U.S. and Canada, with their robust research diverse biomass resources, will significantly attract the need of biorefinery technology in coming years. Whereas Mexico's strategic geographical positioning will emerge as a pivotal hub for innovation in biorefinery technologies. These countries' collaborative efforts and specialized contributions are instrumental in shaping a more sustainable and competitive landscape within the biorefinery industry.
 

The U.S. will leverage its strengths of research and development, driving efficiency and sustainability within its own borders. This will set benchmarks for competitiveness on an international scale. This role underscores the nation's vital contributions to shaping the future trajectory of eco-friendly industrial practices and renewable energy solutions.
 

Biorefinery Market Share

Companies like CARGILL, Valero, and Renewable Energy Group lead the biorefinery industry due to several factors. They possess extensive resources for research, development, and production, enabling them to innovate and scale efficiently. Their established infrastructures and supply chains grant them significant competitive advantages.
 

Biorefinery Market Companies

Some major players operating in the biorefinery industry is mentioned below:

• Borregaard AS
• CARGILL Inc
• Clariant
• Godavari Biorefineries Ltd.
• Green Plains
• Neste Oyj
• Renewable Energy Group
• SEKAB
• Total Energies
• Valero
• Versalis S.P.A
• Vivergo Fuels
• Wilmar International Ltd.
   

Biorefinery Industry News

• In October 2022, Neste has announced a partnership with TOOL-FUEL Services GmbH and Energie-Direkt GmbH to distribute Neste MY Renewable Diesel in Germany. It is aimed at diminishing greenhouse gas emissions in the transportation industry.
   
• In February 2022, Renewable Energy Group and Bunker Holding established a strategic alliance to boost biodiesel adoption in the marine markets of the United States and the European Union. Bunker One, a physical bunker subsidiary of Bunker Holding, piloted the M/T Amak Swan using a B30 biofuel mix featuring second-generation bio feedstock.
   

This biorefinery market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2019 to 2032, for the following segments:

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Market, By Type

• First Generation
• Second Generation
• Third Generation

Market, By Technology

• Industrial Biotechnology
• Physio Chemical
• Thermochemical

Market, By Product

• Energy Driven
• Material Driven

The above information has been provided for the following countries across the regions:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina