LONDON--(BUSINESS WIRE)--The global biorefinery market is expected to post a CAGR of close to 12% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing demand for sustainable energy resources. The global population is on the rise along with the improvement in the populations’ standard of living. Urbanization rate is increasing at a rapid pace. Income levels of people are multiplying, which has led to an increase in the demand for energy. Conventional resources, particularly fossil fuels, are depleting fast because of the rapid increase in energy demand, resulting in a significant imbalance in demand and supply of energy. This disproportion in energy demand and supply has created enormous pressure on both consumers and the environment, forcing mankind to seek sustainable energy resources.
This market research report on the global biorefinery market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights energy independence as one of the key emerging trends in the global biorefinery market:
Global biorefinery market: Energy independence
A significant number of countries across the globe currently depend on imports to meet their energy needs. Energy independence can insulate nations from shocks and upsets in the global market by enabling them to produce enough energy to satisfy their needs. Several countries around the world are striving hard to be energy independent. These nations have initiated numerous action policies to achieve this goal. Biomass is one of the most reliable resources for energy production.
“Several countries in the world are currently producing biofuels. The environmental benefits provided by these fuels propel the increasing production of biofuels. Various governments across the globe are spending heavily on enhancing the production of biofuels to reduce their reliance on energy imports. The rising adoption of strategies by various countries around the world to be energy independent brings forth several growth opportunities for the global biorefinery market,” says a senior analyst at Technavio for research on oil and gas.
Global biorefinery market: Segmentation analysis
This market research report segments the global biorefinery market by technology (industrial biotechnology, physio-chemical, and thermochemical) and geographical regions (APAC, EMEA, and the Americas).
The industrial biotechnology segment held the largest market share in 2017, accounting for nearly 52% of the market. This technology segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with nearly 72% of the market share. The market share occupied by this region is anticipated to decrease by nearly 2% during 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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