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Biorefinery Market Trends

Report ID: GMI9464
Published Date: May 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of biorefinery was worth over USD 143.2 billion in 2023 and will grow at a 7.2% CAGR between 2024 and 2032, propelled by increasing consumer awareness regarding the benefits of bio-based products and government initiatives and policies promoting renewable energy sources.

Biorefinery market share from the industrial biotechnology technology segment will garner 6.5% CAGR from 2024 to 2032 due to its diverse applications and significant advancements in bioprocessing techniques.

North America biorefinery market will cross USD 104.5 billion by 2032, owing to robust investment in R&D, favorable government policies supporting biofuel production, and a well-established industrial infrastructure.

Some of the leading biorefinery industry players include 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, and Wilmar International Ltd., among others.