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 factors driving the growth of the global market include government initiatives and increasing pressure for environmental sustainability, need for geopolitical energy security, technological advancements and increasing investment in the biorefinery market, and increasing need for energy independence. 

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Biorefinery facilitate the conversion of different bio-based feedstocks into several useful products, such as energy, chemicals, and materials. The different processes used for the conversion of biomass into energy and other products are thermochemical processes, biochemical processes, chemical processes and mechanical processes.

In 2014, North America held the largest share in the global market. The major reasons behind the growth of the biorefinery market in the region are high demand for energy independence and energy security, stringent environmental regulations, and high investment for the development of biorefineries. Moreover, Asia-Pacific is anticipated to witness the fastest growth with a CAGR of 17.2%, during the forecast period.

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A top down approach has been used to calculate the market size. P&S Intelligence analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in this report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.

Among the various technologies, the industrial biotechnology segment held the largest share in the global market in 2014, and is expected to witness a CAGR of 13.0% during 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.

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