Biorefinery Market 2015-2019
Biorefinery Market 2015-2019
Covering: This market study segments the global biorefinery market by technology and includes segments like industrial biotechnology, thermochemical, and physico-chemical. The report also presents an analysis of the key drivers, challenges, and trends influencing market growth. Leading vendors analyzed in this industry research report are Abengoa Bioenergy Corp., Aventine Renewable Energy, Neste Oil OYJ, Renewable Energy Group Inc., UOP LLC, and Valero Energy Corp.
Market outlook of the biorefinery market
Biorefineries use technological processes to convert feedstock to fuel, electricity, heat, and other by-products that can be used in other industries. The global market for biorefineries is fueled by the acceptance of biofuels in mainstream usage and is envisaged to surpass USD 790 million by 2019.
Technavio’s market research analyst has estimated eminent factors, such as the increase in need for energy independence, to drive market growth between the period of 2014 and 2019. The biorefinery industry is estimated to be one of the major contributors to energy independence across the globe. This is mainly due to its ability to generate energy and fuel through the use of biomass, which brings about a reduction in the use of fossil-based fuels.
Competitive landscape and key vendors: Abengoa Bioenergy Corp., Aventine Renewable Energy
This market is highly competitive and is characterized by the presence of numerous established vendors. In several regions, the local or regional vendors dominate the market, which has resulted in intense competition over the past few years. The market in the EMEA region is highly fragmented, whereas the market in the Americas is dominated by large and established players as they have access to high capital resources and dedicated R&D funds.
Leading vendors in this market are -
Technavio Announces the Publication of its Research Report – Global Biorefinery Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Biorefinery Market: Abengoa Bioenergy Corp., Aventine Renewable Energy, Neste Oil OYJ, Renewable Energy Group Inc., UOP LLC and Valero Energy Corp.
Other Prominent Vendors in the market are: BP Biofuels North America, Cargill, Poet, Sinopec, and du Pont.
Commenting on the report, an analyst from Technavio’s team said: “Currently there are only four countries to use biofuels in the aviation industry, but the overall goal of becoming carbon neutral will result in the biorefinery industry witnessing a large amount of investments in feedstock as well as in the manufacturing process. Moreover bio jet fuels have certain unique challenges that are expected to be met through new technologies. Therefore the aviation industry beginning to use biofuels will give a boost to the investments in the biorefinery industry.”
According to the report, the increasing need for environmental sustainability and energy independence is driving the usage of biofuels globally. The US Energy Independence and Security Act of 2007 was introduced to promote energy independence and energy security through the increasing production of renewable energy-based fuels and batteries. The biorefinery industry constitutes one of the major contributors to energy independence across the globe.
Further, the report states that biorefineries require advanced technology and a high level of expertise in energy and fuel production, which makes this a very capital-intensive market. The high initial costs required for the installation of a refinery are the major barrier for new entrants.
Abengoa Bioenergy Corp., Aventine Renewable Energy, Neste Oil OYJ, Renewable Energy Group Inc., UOP LLC, Valero Energy Corp, BP Biofuels North America, Cargill, Poet, Sinopec, du Pont.
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