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Biorefinery Market Analysis

ID: MRFR//9769-HCR | 128 Pages | Author: Anshula Mandaokar| June 2024

The Biorefinery market is recognized by means of a dynamic interaction of factors propelled by the escalating need for sustainable and renewable sources of power and chemical compounds. As the sector switches towards a greater eco-friendly and round economic system, biorefineries have emerged as the most important gamers in remodeling biomass into treasured merchandise. The marketplace conditions are notably impacted by using the global push towards lowering dependence on fossil fuels, mitigating climate trade, and searching for alternatives to traditional petrochemical approaches.
One of the primary propellers of the Biorefinery market is the rising demand for bio-based totally fuels and chemical substances. The market's development is extended by using the recognition that biorefineries provide a sustainable pathway to produce fuels and chemical compounds while mitigating environmental impacts. Technological traits are another vital factor shaping the situation of the biorefinery market. The integration of superior analytics and automation, in addition, improves the precision and control of Biorefinery operations, boosting the market closer to extra performance and competitiveness.
The market situations are also impacted by using policy and regulatory frameworks that help improve the economic system. Governments around the world are imposing regulations to sell the use of bio-primarily based products, incentivize investments in biorefineries, and create good surroundings for the development of sustainable technologies. These coverage interventions shape market situations, providing opportunities and tips for agencies within the Biorefinery field. Market gamers need to live attuned to evolving regulations and leverage supportive guidelines to drive innovation and marketplace penetration. Competitive forces within the Biorefinery market drive organizations to differentiate their merchandise and approaches. The aggressive platform is recognized with the aid of a combination of mounted gamers and rising startups, all vying to capture a percentage of the escalating Biorefinery market.
As the arena regularly recognizes the need for sustainable and round answers, biorefineries are placed to play an essential part in reworking biomass into biofuels and bioproducts. The market's trajectory is intently tied to the worldwide dedication to an extra-sustainable destiny, and groups operating in this space have to navigate these conditions adeptly to capitalize on possibilities, cope with demanding situations, and make a contribution to the development of the bioeconomy.

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Type, Product, Technology, and Region

Biorefinery Market Overview

Biorefinery Market Size was valued at USD 142.9 Billion in 2022. The Biorefinery market is projected to grow from USD 155.0 Billion in 2023 to USD 297.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.50% during the forecast period (2023 - 2032). Global population growth, which is driving up energy demand, and accelerating climate change brought on by rising GHG emissions, are the key market drivers enhancing the market growth.Biorefinery Market OverviewSource: Secondary Research, Primary Research, MRFR Database and Analyst Review

Biorefinery Market Trends

  • The growing demand for energy owing to growing global population is driving the market growth

The world has been facing a significant issue as a result of the rising energy consumption caused by the expanding global population. Furthermore, the rapid climatic changes brought on by rising GHG emissions represent a serious threat to the environment. The most practical solution for bridging the long-term gap between environmental sustainability and economic prosperity is biorefinery.

Numerous end-use industries, including agriculture, transportation, chemicals, and aviation, have expressed interest in biomass-based goods. However, the industry faces obstacles like building the required infrastructure. Major players in the market have been concentrating on applying the best technologies (for gasification, fermentation, and chemical conversion) to ensure that these bio-based products reach a break-even point in order to overcome this obstacle. Participants in the industry have been concentrating on the entire biomass product supply chain, from the raw materials to the end-use industries via distribution centres.

A biorefinery serves as a production hub for a variety of biomass-derived goods that can take the place of goods obtained from fossil fuels. Although replacement items share a similar chemical structure, they are made using different raw components. The following significant biomass-based products are currently manufactured or being researched: ethylene, xylitol, astaxanthin, polylactic acid, viscose, PLA mix, and transportation fuel. Various renewable raw materials, including sugar/starch, vegetable oil, lignocellulosic biomass, jatropha oil, and microalgae, are used to manufacture these chemicals and fuel.

The rising need for sustainable energy sources is one of the major reasons boosting the worldwide biorefinery market. The World Bank Group projects that between 2015 and 2050, the world's population would increase by 34%, reaching 9.2 billion people. The rate of urbanisation is quickly rising. People's income levels are increasing, which has increased the need for energy. The International Agency for Renewable Energy (IRENA) recently released data that indicated that by 2021, the world's population will have increased and that there would be a 48% increase in global energy demand. Currently, fossil fuels provide 80% of the world's energy needs. However, research into the manufacture of biofuels has been prompted by the fast dwindling fossil fuel sources as well as the detrimental environmental effects. As a result, it is anticipated that the rising need for sustainable energy sources would play a significant role in driving the growth of the worldwide biorefinery market. Thus, driving the Biorefinery market revenue.

Biorefinery Market Segment Insights:

Biorefinery Type Insights

The Biorefinery Market segmentation, based on type, includes first generation, second generation, and third generation. In 2022, the first generation category dominated the world market. It is frequently possible to eat the biomass that is directly related to first-generation biofuels like ethanol and biodiesel. Typically, C6 carbohydrates, particularly glucose, are fermented by GMO or conventional yeast strains such Saccharomyces cerevisiae to produce ethanol. First-generation bioethanol is produced from a small number of different feedstocks, mostly sugarcane or maize.

Biorefinery Product Insights

The Biorefinery Market segmentation, based on product, includes energy driven and material driven. Energy driven segment dominated the Biorefinery Market in 2022. The primary product category, according to the International Energy Agency, is energy, particularly biofuels. Pharmaceuticals and nutraceuticals are included in the crucial chemical area. Polymers and fibres are the two main categories of materials, which make up the smallest product category. Animal food and feed are included under the others section.

Biorefinery Technology Insights

The Biorefinery Market segmentation, based on technology, includes industrial technology, physico-chemical, and thermochemical. In 2022, the industrial technology category dominated the world market. Industrial biotechnology encompasses both the manufacture of bio-based goods from renewable feedstocks, such as chemicals, fuels, and plastics, as well as the use of biotechnology-based instruments in conventional industrial processes, or bioprocessing. Industrial biotechnology's ability to enable integrated biorefineries to create a wide range of goods and value streams is seen to have the potential to alter the economics of industrial production. The effective market penetration of large-scale bio-based industrial products can be attributed to three main factors: economic advantage, high performance, and environmentally benign products.

Figure 1: Biorefinery Market, by Technology, 2022 & 2032 (USD Billion)Biorefinery Market, by Technology, 2022 & 2032Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Biorefinery Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Biorefinery Market dominated this market in 2022 (45.80%). This is due to more government spending on projects to generate biofuels. The U.S. Department of Energy (DOE) stated in June 2022 that it will invest USD 59 million to increase biofuel and bioproduct production in rural America. The money will help the government achieve its Sustainable Aviation Fuel Grand Challenge objective of producing 35 billion gallons of aviation biofuel by 2050 and 3 billion gallons of aviation biofuel annually by 2030. Further, the U.S. Biorefinery market held the largest market share, and the Canada Biorefinery market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Biorefinery Market Share By Region 2022 (USD Billion)BIOREFINERY MARKET SHARE BY REGION 2022Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Biorefinery market accounted for the healthy market share in 2022. The New German Bioeconomy Strategy, which was released in January 2020, offers the framework for realising Germany's full potential as a bioeconomy leader. In relation to the use of biogenic raw materials by the industry, the plan emphasises how biological knowledge and cutting-edge technology are the cornerstones of a future-focused, sustainable, and climate-neutral economy. Further, the German Biorefinery market held the largest market share, and the U.K Biorefinery market was the fastest growing market in the European region

The Asia Pacific Biorefinery market is expected to register significant growth from 2023 to 2032, because of a surge in pollution brought on by the area's excessive use of fossil fuels, which has forced governments in the area to explore for new alternatives, like biofuels, that are not harmful to the environment. Japan and South Korea are helping the Asia Pacific market to grow. Market participants in these nations are concentrating on partnerships, licencing agreements, and mergers and acquisitions to incorporate cutting-edge technologies. Moreover, China’s Biorefinery market held the largest market share, and the Indian Biorefinery market was the fastest growing market in the Asia-Pacific region.

Biorefinery Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Biorefinery market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Biorefinery industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Biorefinery industry to benefit clients and increase the market sector. In recent years, the Biorefinery industry has offered some of the most significant advantages to medicine. Major players in the Biorefinery market, including Honeywell International Inc., Chempolis, Sekab, Ørsted A/S, IES BIOGAS srl, AB HOLDING SPA, Zea2 Bioworks, UPM Global, Neste, and BTS Biogas Srl/GmbH, are attempting to increase market demand by investing in research and development operations.

Verified BioEnergie AG (VERBIO) produces and distributes biofuels. It generates biomethane, bioethanol, and biodiesel. The company produces biodiesel using domestic rapeseed oil and other vegetable oils and fatty acids, bioethanol using starch and sucrose, and biogas using agricultural waste. Biofertilizer, animal feed, disinfection solution, sterol, and medicinal glycerin are all produced by VERBIO for usage as raw materials in the food, cosmetics, and pharmaceutical industries. It has facilities throughout Germany for production, storage, and other purposes. Zorbig, Sachsen-Anhalt, Germany serves as the home office for VERBIO. In Nevada, United States, VERBIO opened the first cellulosic RNG factory in May 2022. The company claims that their new technique, which collects the wasted field straw that would otherwise rot, benefits farmers. At the end of the production process is straw humus, a premium biofertilizer.

Environmental management services are offered by Veolia Environnement SA (Veolia). The business provides solutions for the treatment and distribution of drinking water, wastewater treatment, waste collection, waste-to-energy processing, waste dismantling, and hazardous waste processing. It provides comprehensive energy solutions across the whole conversion cycle, from purchasing energies entering an industrial site to constructing new facilities or updating old ones to marketing the power generated. Veolia carries out its business operations under the construct, own, and operate (BOO) and public BOT contracts. It provides services to public agencies, local governments, businesses, and individuals in Europe, Asia, North America, Latin America, Africa, the Middle East, and Oceania. The head office of Veolia is located in Paris, Ile-de-France, France. Veolia began construction in April 2022 on the largest biorefinery project in the world, which would generate carbon dioxide-free bio-methanol from a Finnish pulp mill. The refinery will employ Veolia's cutting-edge technology of commercial bio product-derived bio methanol production, which integrates the crude sulphate methanol refining into the pulp production process. It was developed with Metsä Fibre, the largest cooperative forestry association in Europe.

Key Companies in the Biorefinery market include

  • Honeywell International Inc.

  • Chempolis

  • Sekab

  • Ørsted A/S

  • IES BIOGAS srl


  • Zea2 Bioworks

  • UPM Global

  • Neste

  • BTS Biogas Srl/GmbH

Biorefinery Industry Developments

September 2022: In Carling Saint-Avold, France, AFYREN announced the opening of AFYREN NEOXY, their first sizable factory. The news was released on the Chemesis business platform. Through purification, extraction, and fermentation, carboxylic acids are directly obtained from sugar beetroot co-products to offer a low-carbon substitute.

June 2022: Fintoil and Neste Engineering Solutions have chosen Emerson automation software and solutions to maximise the operational performance of their Hamina-Kotka biorefinery. Advanced biofuels and biochemical feedstocks are produced at the factory in Finland, which will aid in lowering emissions and dependence on fossil fuels.

Biorefinery Market Segmentation

Biorefinery Type Outlook

  • First Generation

  • Second Generation

  • Third Generation

Biorefinery Product Outlook

  • Energy Driven

  • Material Driven

Biorefinery Technology Outlook

  • Industrial Technology

  • Physico-Chemical

  • Thermochemical

Biorefinery Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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