GLOBAL BIO-REFINERY TECHNOLOGIES MARKET FORECAST 2019-2027
NEW YORK, April 16, 2019 /PRNewswire/ --
KEY FINDINGS
Global bio-refinery technologies market refers to the market of different technologies employed in bio-refineries for the conversion of biomass into fuels, value-added chemicals, power or heat.
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The global bio-refinery technologies market generated a revenue of $XX billion in 2018 and is expected to capture $1,230.71 billion by 2027, at a CAGR of 9.11% by the end of 2027. The base year considered for the market study is 2018 and the forecasted period is between 2019 and 2027. The depleting fossil fuel reserves are leveraging huge growth prospects for market growth across the world.
MARKET INSIGHTS
The hastening depletion of fossil fuels across the world, the favorable government policies, the active investments by governments & private companies towards bio-refineries, the increasing rate of greenhouse gas emissions and the rise in demand for energy across the world are the major market drivers that are proliferating the market expansion for bio-refining technologies.Due to the massive depletion of fossil fuel, the economy is expected to witness a shift towards a bio-based sustainable economy.
Thus, depletion of fossil fuel is one of the major driving factors in the market.
The immense initial investment coupled with complexities in the deployment of bio-refinery technologies, uncertainty in global economic conditions, the environmental dependency of bio-refinery technologies on raw materials & variability of feedstock in bio-refineries, are likely to inhibit the growth of the global biorefinery technologies market during the forecast period. Environmental dependencies of the raw material mainly restrict market growth.
REGIONAL INSIGHTS
Geographically, the global bio-refinery technologies market has been segmented on the basis of four major regions, namely, North America, Europe, Asia Pacific, and the remaining countries constitutively forming the Rest of World.
Asia Pacific is anticipated to be the fastest growing region with a CAGR of XX% during the forecast period. The primary driver for the growth of bio-refinery technologies market in the Asia Pacific is the raw material availability, proactive government policies for the promotion of bio-based products, promotion on use of biofuels and growing investment in biorefineries in the region.
COMPETITIVE INSIGHTS
Most of the companies are looking for strategies such as merger & acquisition, partnership, contracts, agreements, & new product launch, to gain a competitive edge over other companies. The major companies that have been extensively profiled in the report are DSM NV, Beta Renewables S.P.A., BP Biofuels Advanced Technology Inc., Lanxess Ag, Petrobras, China Petroleum & Chemical Corporation (Sinopec), Dominion Energy, Glycos Biotechnologies Inc., Green Plains Inc., Abengoa Bioenergia SA, Novozymes A/S, Covestro AG, Edeniq Inc., Archer-Daniels-Midland Company, and E.I. DuPont De Nemours and Company.
Companies mentioned
1. ABENGOA BIOENERGIA SA
2. ARCHER-DANIELS-MIDLAND COMPANY
3. BETA RENEWABLES S.P.A.
4. BP BIOFUELS ADVANCED TECHNOLOGY INC.
5. CHINA PETROLEUM & CHEMICAL CORPORATION (SINOPEC)
6. COVESTRO AG
7. DOMINION ENERGY
8. DSM NV
9. E.I. DU PONT DE NEMOURS AND COMPANY
10. EDENIQ INC.
11. GLYCOS BIOTECHNOLOGIES INC.
12. GREEN PLAINS INC.
13. LANXESS AG
14. NOVOZYMES A/S
15. PETROBRAS
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