DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Biorefinery Market Size, Share, Development, Growth and Demand Forecast to 2020" report to their offering.
The global biorefinery market was valued at $ 432.4 billion in 2014, and it is expected to grow with a CAGR of 14.0% during 2015 - 2020. The increasing need for energy independence is driving the growth of the global biorefinery market. North America accounted for the largest share in the global biorefinery market with $ 311.3 billion in 2014. The different countries across the world are trying to free themselves from dependence on foreign oil. The European Union have set target as per Renewable Energy Directive (RED), to fulfil at least 20% of its total energy needs with renewables by 2020. Similarly, the U.S. renewable fuel standard program was created to reduce greenhouse gas emissions and expand the U.S. renewable fuels sector, thus reducing reliance on imported oil. Biofuels are one of the most efficient alternatives for petroleum based fuels, as it can be produced locally from the feedstock available. Therefore, a high demand for biofuels is expected during the forecast period.
Among the various technologies, the thermochemical segment is expected to witness the fastest growth (17.3% CAGR) during 2015 - 2020 in the global biorefinery market. The industrial biotechnology segment held the largest market share with $ 224.8 billion in 2014, and it is expected to reach $ 447.3 billion by 2020, growing with a CAGR of 13.0% during the period 2015-2020.
Some of the major players operating in the global biorefinery market are Abengoa Bioenergy SA, Neste, Pacific Ethanol Inc., Renewable Energy Group Inc., UOP LLC, and Valero Energy Corporation.
Key Topics Covered:
1. Research Scope & Methodology
4.Global Biorefinery Market Size And Forecast (2011-2020)
5.Global Biorefinery Market Breakdown By Geography
6.Competitive Positioning Analysis
7.Company Profiles And Strategic Developments
For more information about this report visit http://www.researchandmarkets.com/research/3zxmmk/global