The Biorefinery Market size was valued at USD 153.07 billion in 2023 and is expected to grow to USD 296.31 billion by 2031 and grow at a CAGR of 8.61% over the forecast period of 2024-2031.
Biorefinery is the sustainable processing facility or network of facilities that involve the conversion of biomass into value-added products such as transportation biofuels, biopower, biochemicals, and other biomaterials. This sustainable process facility converts biomass into new green, clean, and environment-friendly products. Raw materials used for the biorefinery process come only from renewable sources. But biorefinery is a complex and slow conversion process that has high recovery costs. This type of process also has technical limitations and a low adoption rate.
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Biorefinery processes promote the use of biofuels and biomaterials instead of fossil fuels which helps to limit greenhouse gas emissions and protect the climate from the hazardous effects of carbon footprint. Biorefinery is a very attractive process for the conversion of waste biomass into valuable products.
The global biorefinery market witnessed a severe drop in production due to the COVID-19 pandemic. According to the International Energy Agency (IEA), the reduced fuel demand with stringent lockdown restrictions drops the production rate of biofuel by about 11.7%. During the Covid-19 pandemic, World Bioenergy Association witnessed the reduced or even termination of new investment in the bioenergy sector due to the uncertainty in the situation which delay the decision about new investment and ultimately affected the biorefinery process. The visible reduction in demand for transportation fuel due to the strict lockdown the use of biofuels also decreased which impacted the biorefinery market severely.
Drivers
Emerging use of biomass for a variety of applications
Rising demand for clean and renewable energy sources
Increasing adoption of greener technologies
Increasing consumption of energy due to rapid industrialization
Increasing awareness regarding reducing greenhouse gas emission
To curb the carbon footprint use of fossil fuels should be reduced and the use of renewable energy sources should be increased. The government is taking the initiative to invest in clean fuels which increases the adoption of greener technologies. Nowadays biomass is used widely in various sectors to fulfill the energy, chemical, and power demand. All these factors support the growth of the biorefinery market significantly.
Restrain
Stringent restriction on selecting feedstock type
Opportunities
Rapid advancement in biorefinery technologies
Increase in the investment by the government in cleaner fuel
Challenges
Fluctuating feedstock prices
The high cost of biomass and volatile feedstock prices hampers the biorefinery market growth significantly. The cost of feedstock decides the cost of final biofuels and other biomaterials. For the high production capacity, consistent quality of feedstock is required. Biomass needed to be stored before being sent to the biorefinery processes. So, to keep biomass as it is the feedstock quality should be great. All these factors led to an increase in the price of feedstock which further challenges the biorefinery market.
The ongoing conflict between Russia and Ukraine has had a significant impact on various industries, including the biorefinery market. The war has disrupted the supply chain of biomass, which has affected the production and profitability of biorefineries. The biorefinery market is highly dependent on the availability and cost of biomass feedstocks, such as agricultural residues, forestry residues, and energy crops.
Ukraine is one of the largest producers of biomass in Europe, and its conflict with Russia has disrupted the supply of biomass to biorefineries in the region. The transportation of biomass has become more difficult and expensive due to the conflict, which has led to a shortage of feedstocks and increased prices. Furthermore, the war has also affected the investment climate in the region. The political instability and economic uncertainty have made it difficult for biorefinery companies to secure funding for their projects. Investors are hesitant to invest in the region due to the risk of political and economic instability, which has slowed down the growth of the biorefinery market.
Impact of Recession:
The biorefinery market has been significantly affected by the recent economic recession. The downturn in the global economy has led to a decrease in demand for biofuels and other biorefinery products. This has resulted in a decline in the profitability of biorefinery companies and a slowdown in the growth of the industry. Despite these challenges, there are still opportunities for the biorefinery market to thrive in the current economic climate. One of the key factors that will determine the success of biorefinery companies is government support for the biorefinery industry. Many countries have implemented policies and incentives to encourage the development of renewable energy sources, including biofuels. These initiatives can help to stimulate demand for biorefinery products and create a more favorable business environment for companies in the industry.
By Product
Energy
Chemical
Material
Others
By Type
First Generation
Second Generation
Third Generation.
By Technology
Industrial Biotechnology
Physicochemical
Biochemical
Thermochemical
By Feedstock
Starch & Sugar Crops
Energy Crops
Organic & Agricultural Residues
Multifeedstock
others
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Asia Pacific is the dominant region for the biorefinery market. The reason for this dominance is that China has imposed a policy that promotes the production and usage of biofuels rather than fossil fuels. Increasing demand for electricity from the commercial and residential sectors, rising environmental concerns, increasing population, rising disposable income, increasing adoption of clean and renewable energy, and increasing number of biobased refineries are some other factors that drive the biorefinery market in the Asia Pacific region.
Europe is the second largest market and is expected to show significant growth during the forecast period. In 2021 Germany dominated in Europe region. In 2020 Germany developed a new German bio-economy strategy which helped to strengthen Germany as a bioeconomy leader. The growing popularity of biobased product to reduce greenhouse gas emission drive the biorefinery market in this region.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The 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 the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major players are Valero, Renewable Energy Group, Neste, Total Energies, Vivergo Fuel, Borregard AS, Wilmar International Ltd., Godavari Biorefineries, Sekab, Cargill Inc., Honeywell International Inc., Abengoa, Clariant, Green Plains, and other players
Neste Company- Financial Analysis
| Report Attributes | Details |
| Market Size in 2023 | US$ 153.07 Bn |
| Market Size by 2031 | US$ 296.31 Bn |
| CAGR | CAGR of 8.61% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| 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) |
| Company Profiles | Valero, Renewable Energy Group, Neste, Total Energies, Vivergo Fuel, Borregard AS, Wilmar International Ltd., Godavari Biorefineries, Sekab, Cargill Inc., Honeywell International Inc., Abengoa, Clariant, Green Plains, and other |
| Key Drivers | • Emerging use of biomass for a variety of applications • Rising demand for clean and renewable sources of energy |
| Market Opportunities | • Rapid advancement in biorefinery technologies • Increase in the investment by the government in cleaner fuel |
The market size of the Biorefinery Market is 140.9 USD billion in 2022.
The expected CAGR of the global Biorefinery Market during the forecast period is 8.4%
The major key players are Valero, Renewable Energy Group, Neste, Total Energies, Vivergo Fuel, Borregard AS, Wilmar International Ltd., Godavari Biorefineries, Sekab, Cargill Inc., Honeywell International Inc., Abengoa, Clariant, Green Plains
Asia-Pacific contributes major to the Biorefinery Market.
Rapid advancement in biorefinery technologies and increase in the investment by the government in cleaner fuel are the opportunities for biorefinery market globally.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Biorefinery Market Segmentation, By Product
8.1 Energy
8.2 Chemical
8.3 Material
8.4 Others
9. Biorefinery Market Segmentation, By Type
9.1 First Generation
9.2 Second Generation
9.3 Third-Generation
10. Biorefinery Market Segmentation, By Technology
10.1 Industrial Biotechnology
10.2 Physicochemical
10.3 Biochemical
10.4 Thermochemical
11. Biorefinery Market Segmentation, By Feedstock
11.1 Starch & Sugar Crops
11.2 Energy Crops
11.3 Organic & Agricultural Residues
11.4 Multifeedstock
11.5 others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Biorefinery Market by Country
12.2.2North America Biorefinery Market by Product
12.2.3 North America Biorefinery Market by Type
12.2.4 North America Biorefinery Market by Technology
12.2.5 North America Biorefinery Market by Feedstock
12.2.6 USA
12.2.6.1 USA Biorefinery Market by Product
12.2.6.2 USA Biorefinery Market by Type
12.2.6.3 USA Biorefinery Market by Technology
12.2.6.4 USA Biorefinery Market by Feedstock
12.2.7 Canada
12.2.7.1 Canada Biorefinery Market by Product
12.2.7.2 Canada Biorefinery Market by Type
12.2.7.3 Canada Biorefinery Market by Technology
12.2.7.4 Canada Biorefinery Market by Feedstock
12.2.8 Mexico
12.2.8.1 Mexico Biorefinery Market by Product
12.2.8.2 Mexico Biorefinery Market by Type
12.2.8.3 Mexico Biorefinery Market by Technology
12.2.8.4 Mexico Biorefinery Market by Feedstock
12.3 Europe
12.3.1 Europe Biorefinery Market by country
12.3.2 Europe Biorefinery Market by Product
12.3.3 Europe Biorefinery Market by Type
12.3.4 Europe Biorefinery Market by Technology
12.3.5 Europe Biorefinery Market by Feedstock
12.3.6 Germany
12.3.6.1 Germany Biorefinery Market by Product
12.3.6.2 Germany Biorefinery Market by Type
12.3.6.3 Germany Biorefinery Market by Technology
12.3.6.4 Germany Biorefinery Market by Feedstock
12.3.7 UK
12.3.7.1 UK Biorefinery Market by Product
12.3.7.2 UK Biorefinery Market by Type
12.3.7.3 UK Biorefinery Market by Technology
12.3.7.4 UK Biorefinery Market by Feedstock
12.3.8 France
12.3.8.1 France Biorefinery Market by Product
12.3.8.2 France Biorefinery Market by Type
12.3.8.3 France Biorefinery Market by Technology
12.3.8.4 France Biorefinery Market by Feedstock
12.3.9 Italy
12.3.9.1 Italy Biorefinery Market by Product
12.3.9.2 Italy Biorefinery Market by Type
12.3.9.3 Italy Biorefinery Market by Technology
12.3.9.4 Italy Biorefinery Market by Feedstock
12.3.10 Spain
12.3.10.1 Spain Biorefinery Market by Product
12.3.10.2 Spain Biorefinery Market by Type
12.3.10.3 Spain Biorefinery Market by Technology
12.3.10.4 Spain Biorefinery Market by Feedstock
12.3.11 The Netherlands
12.3.11.1 Netherlands Biorefinery Market by Product
12.3.11.2 Netherlands Biorefinery Market by Type
12.3.11.3 Netherlands Biorefinery Market by Technology
12.3.11.4 Netherlands Biorefinery Market by Feedstock
12.3.12 Rest of Europe
12.3.12.1 Rest of Europe Biorefinery Market by Product
12.3.12.2 Rest of Europe Biorefinery Market by Type
12.3.12.3 Rest of Europe Biorefinery Market by Technology
12.3.12.4 Rest of Europe Biorefinery Market by Feedstock
12.4 Asia-Pacific
12.4.1 Asia Pacific Biorefinery Market by country
12.4.2 Asia Pacific Biorefinery Market by Product
12.4.3 Asia Pacific Biorefinery Market by Type
12.4.4Asia Pacific Biorefinery Market by Technology
12.4.5Asia Pacific Biorefinery Market by Feedstock
12.4.6 Japan
12.4.6.1 Japan Biorefinery Market by Product
12.4.6.2 Japan Biorefinery Market by Type
12.4.6.3 Japan Biorefinery Market by Technology
12.4.6.4 Japan Biorefinery Market by Feedstock
12.4.7 South Korea
12.4.7.1 South Korea Biorefinery Market by Product
12.4.7.2 South Korea Biorefinery Market by Type
12.4.7.3 South Korea Biorefinery Market by Technology
12.4.7.4 South Korea Biorefinery Market by Feedstock
12.4.8 China
12.4.8.1 China Biorefinery Market by Product
12.4.8.2 China Biorefinery Market by Type
12.4.8.3 China Biorefinery Market by Technology
12.4.8.4 China Biorefinery Market by Feedstock
12.4.9 India
12.4.9.1 India Biorefinery Market by Product
12.4.9.2 India Biorefinery Market by Type
12.4.9.3 India Biorefinery Market by Technology
12.4.9.4 India Biorefinery Market by Feedstock
12.4.11 Australia
12.4.10.1 Australia Biorefinery Market by Product
12.4.10.2 Australia Biorefinery Market by Type
12.4.10.3 Australia Biorefinery Market by Technology
12.4.10.4 Australia Biorefinery Market by Feedstock
12.4.11 Rest of Asia-Pacific
12.4.11.1 APAC Biorefinery Market by Product
12.4.11.2 APAC Biorefinery Market by Type
12.4.11.3 APAC Biorefinery Market by Technology
12.4.11.4 APAC Biorefinery Market by Feedstock
12.5 The Middle East & Africa
12.5.1 The Middle East & Africa Biorefinery Market by country
12.5.2 The Middle East & Africa Biorefinery Market by Product
12.5.3 The Middle East & Africa Biorefinery Market by Type
12.5.4The Middle East & Africa Biorefinery Market by Technology
12.5.5 The Middle East & Africa Biorefinery Market by Feedstock
12.5.6 Israel
12.5.6.1 Israel Biorefinery Market by Product
12.5.6.2 Israel Biorefinery Market by Type
12.5.6.3 Israel Biorefinery Market by Technology
12.5.6.4 Israel Biorefinery Market by Feedstock
12.5.7 UAE
12.5.7.1 UAE Biorefinery Market by Product
12.5.7.2 UAE Biorefinery Market by Type
12.5.7.3 UAE Biorefinery Market by Technology
12.5.7.4 UAE Biorefinery Market by Feedstock
12.5.8South Africa
12.5.8.1 South Africa Biorefinery Market by Product
12.5.8.2 South Africa Biorefinery Market by Type
12.5.8.3 South Africa Biorefinery Market by Technology
12.5.8.4 South Africa Biorefinery Market by Feedstock
12.5.9 Rest of Middle East & Africa
12.5.9.1 Rest of Middle East & Asia Biorefinery Market by Product
12.5.9.2 Rest of Middle East & Asia Biorefinery Market by Type
12.5.9.3 Rest of Middle East & Asia Biorefinery Market by Technology
12.5.9.4 Rest of Middle East & Asia Biorefinery Market by Feedstock
12.6 Latin America
12.6.1 Latin America Biorefinery Market by Country
12.6.2 Latin America Biorefinery Market by Product
12.6.3 Latin America Biorefinery Market by Type
12.6.4 Latin America Biorefinery Market by Technology
12.6.5 Latin America Biorefinery Market by Feedstock
12.6.6 Brazil
12.6.6.1 Brazil Biorefinery Market by Product
12.6.6.2 Brazil Africa Biorefinery Market by Type
12.6.6.3 Brazil Biorefinery Market by Technology
12.6.6.4 Brazil Biorefinery Market by Feedstock
12.6.7 Argentina
12.6.7.1 Argentina Biorefinery Market by Product
12.6.7.2 Argentina Biorefinery Market by Type
12.6.7.3 Argentina Biorefinery Market by Technology
12.6.7.4 Argentina Biorefinery Market by Feedstock
12.6.8 Rest of Latin America
12.6.8.1 Rest of Latin America Biorefinery Market by Product
12.6.8.2 Rest of Latin America Biorefinery Market by Type
12.6.8.3 Rest of Latin America Biorefinery Market by Technology
12.6.8.4 Rest of Latin America Biorefinery Market by Feedstock
13. Company Profile
13.1 Valero
13.1.1 Market Overview
13.1.2 Financials
13.1.3 Product/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Renewable Energy Group
13.2.1 Market Overview
13.2.2 Financials
13.2.3 Product/Services/Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Neste
13.3.1 Market Overview
13.3.2 Financials
13.3.3 Product/Services/Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Total Energies
13.4.1 Market Overview
13.4.2 Financials
13.4.3 Product/Services/Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Vivergo Fuel
13.5.1 Market Overview
13.5.2 Financials
13.5.3 Product/Services/Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Borregard AS
13.6.1 Market Overview
13.6.2 Financials
13.6.3 Product/Services/Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Wilmar International Ltd.
13.7.1 Market Overview
13.7.2 Financials
13.7.3 Product/Services/Offerings
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Godavari Biorefineries
13.8.1 Market Overview
13.8.2 Financials
13.8.3 Product/Services/Offerings
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Sekab
13.9.1 Market Overview
13.9.2 Financials
13.9.3 Product/Services/Offerings
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Cargill Inc.
13.10.1 Market Overview
13.10.2 Financials
13.10.3 Product/Services/Offerings
13.10.4 SWOT Analysis
13.10.5 The SNS View
13.11 Honeywell International Inc.
13.11.1 Market Overview
13.11.2 Financials
13.11.3 Product/Services/Offerings
13.11.4 SWOT Analysis
13.11.5 The SNS View
13.12 Abengoa
13.12.1 Market Overview
13.12.2 Financials
13.12.3 Product/Services/Offerings
13.12.4 SWOT Analysis
13.12.5 The SNS View
13.13 Clariant
13.13.1 Market Overview
13.13.2 Financials
13.13.3 Product/Services/Offerings
13.13.4 SWOT Analysis
13.13.5 The SNS View
13.14 Green Plains
13.14.1 Market Overview
13.14.2 Financials
13.14.3 Product/Services/Offerings
13.14.4 SWOT Analysis
13.14.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. USE Cases And Best Practices
16. Conclusion
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