Biorefinery Market Segmentation:
Product Segment Analysis
The energy driven segment is estimated to gain the largest biorefinery market share of about 60% in the year 2035. With few alternative low-carbon technological options, biofuels are especially crucial for trucking, shipping, and aircraft. Moreover, according to the International Energy Agency, to achieve Net Zero Emissions by 2050 necessitates 14% annual growth until 2030. Biofuels produced from feedstocks will meet 45% of total global demand by 2030; however, only an estimated 7% of biofuels were produced from wastes and leftovers in 2020.
Feedstock Segment Analysis
The starch & sugar crops segment in biorefinery market is expected to garner a significant share of around 40% in 2035. These feedstocks are relatively much affordable in comparison to others, including woody biomass or algae. The world trade of starch residue comprising bagasse, beet-pulp and miscellaneous waste of sugar manufacture, distilling or brewing dregs, whether or not in pellets form was USD 7.15 billion in 2023. The adoption of sugar crops has increased as they are a cost-effective choice for biorefinery operations. Moreover, these feedstocks have high carbohydrate content, which can be converted into different valuable products, such as bioplastics, biochemicals, and biofuels.
Our in-depth analysis of the global biorefinery market includes the following segments:
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