Thermochemical Process Segment is Expected to Dominate the Global Industrial Biorefinery Market

Increased government initiatives and rise in interest towards environmental sustainability is a major factor attributable to the growth of the market.

According to TechSci Research report, “Global  Industrial Biorefinery Market - By Country, Competition, Forecast & Opportunities, 2028”. The Global  Industrial Biorefinery is anticipated to project robust growth in the forecast period with a CAGR of  8.82% through 2028. The rapid increase in population poses significant challenges, such as steadily increasing demand for food, energy, and water, contribute to climate change and it becomes an alarming situation for world. Therefore, the government and world needs to take action to reduce greenhouse gas emissions (GHG). Society and economy rely heavily on energy from fossil fuels. According to EIA, the 84% of the world's energy comes from fossil fuels, and demand is expected to rise as global energy consumption rises by 53% by 2035. Moroever, unconventional fossil resources such as tar sand oil, shale gas, arctic and deepwater oil may become economically feasible to extract as prices rise, but they are ultimately a constrained resource with health and environmental risks. Therefore, Bioenergy, which is derived from plants uses sunlight and CO2 to absorb carbon into biomass, has emerged as a potentially sustainable energy source with low climate impact.

Moreover, the transformation of biomasses of agricultural, industrial, or natural origin enables the production of substances that can be used as biofuels and intermediate chemical products, which in turn can be transformed into further products. In the long run, only the use of new technologies will be able to close the gap between economic growth and environmental sustainability.

However, one of barriers is the production of high-quality biomass that can be economically transformed into useful energy products.

Some of the innovations in biorefineries are:

Eni's biorefinery project in Venice's industrial area which is transforming a conventional refinery into a biorefinery which is capable of converting organic raw materials into high-quality biofuels. The biorefinery produces green diesel, green naphtha, LPG, and possibly turbojet fuel and will be able to process up to 560,000 tonnes of raw materials, increasingly using cooking oils, vegetable oils, and animal fats. UPM is one of the biorefinery which has a production of advanced biofuels which are renewable and of high quality. UPM manufactures its advanced wood-based biofuel, UPM BioVerno, at its biorefinery in Lappeenranta, Finland. The biorefinery is using its own innovations to transform tall oil. UPM BioVerno is a high-quality renewable diesel that can be used in all diesel engines as a blending component or as 100% fuel. When compared to fossil diesel, it reduces greenhouse gas emissions by 80%.

Furthermore, sustainable technological development and innovation may not always result in the complete reduction of the environmental burden of industrial production. To start sustainable production on a long-term basis, technological innovation is a crucial factor.

Browse over xx market data Figures spread through 181 Pages and an in-depth TOC on " Global Industrial Biorefinery Market"

Based on Process, the thermochemical process segment contributed significantly to revenue. Bioenergy is regarded as a sustainable alternative to fossil fuels. In order to effectively convert biomass to energy, advanced conversion technologies and biomass feedstocks are designed.

According to regional analysis, Industrial Biorefinery market is segmented into North America, Europe, South America, Asia-Pacific, and Middle east and Africa. Asia-Pacific is expected to grow during the forecast period. As, according to the United Nations, the current global population of 7.2 billion is expected to increase to 8.1 billion by 2025. About half of the projected population would reside in the Asia-Pacific region, demanding more consideration to ensure the practice of sustainable development in this region. This population growth requires additional requirements for energy, transportation, and many other needs. This growth has been driven to emerging economies such as China, India, and Singapore focusing on the implementation of advanced clean technologies to improve business processes and promote sustainable development. The market for Biorefinery is anticipated to grow and companies operating in Asia Pacific benefit from adaptable economic conditions, government policies, industrialization and globalisation, and growing digitalization.

Key market players in the Global Industrial Biorefinery Market are following:-

• Valero Energy Corporation
• Honeywell UOP
• Renewable Energy Group
• Neste
• Abengoa
• Godavari Biorefineries Ltd.
• Sekab
• TotalEnergies
• Borregard AS
• Vivergo Fuel

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"Global Industrial Biorefinery Market is expected to thrive because since the industrial revolution, the rapid development of human activities has depleted natural resources in a relatively short period of time. Mass consumption and large production have profound impacts on the earth's ecology, diminishing nonrenewable resources and resulting environmental issues by polluting the air, water, and soil.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based  global management consulting firm.

Industrial Biorefinery Market– Global Process Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented by Product (Energy, Chemical and Material), By Production Facility Size (Small and medium-sized production facility, and large production facility), By Feedstock, (Primary Biomass and Secondary Biomass), By Process (Thermochemical, Biochemical, Chemical, and Mechanical & Thermomechanical), By Region, Competition 2018-2028 has evaluated the future growth potential of Global  Industrial Biorefinery Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global  Industrial Biorefinery Market.

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