Bio-Refinery Plant Market: Technological development in the field of bio-refiners is expected to create considerable opportunities for the market
Bio-Refinery Plant Market: Introduction
- A bio-refinery plant is a facility that integrates the biomass conversion processes and equipment to produce fuels and value-added chemicals from biomass. A bio-refinery plant is similar to the present-day petroleum refinery, which produces multiple fuels and products from petroleum. A bio-refinery produces several products by taking advantage of the various components in biomass and their intermediates, thereby maximizing the value derived from the biomass feedstock.
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- Bio-refinery is estimated to help utilize the optimum energy potential of organic wastes and also resolve issues of waste management and GHGs emissions. Biomass wastes can be converted, through appropriate enzymatic/chemical treatment, into either gaseous or liquid fuels.
- Current approaches that are involved for the use of biomass is expected to expand by future biorefineries, instead of getting replaced. All biomass utilisation approaches, including both established and innovative approaches to biomass conversion, are regarded as important and are likely to be the subject of increased research & development efforts in the near future.
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Key Drivers, Restraints, and Opportunities of Global Bio-Refinery Plant Market
- Bio refineries contribute to national energy needs by manufacturing various fuels, chemical commodities, and biproducts in an environmental sustainable manner; for e.g., reducing greenhouse gas emissions. This is a major factor driving the global bio-refinery plant market.
- Slow reactions rates during the production of end-products is a key disadvantage of biological conversions in bio-refinery processes. This hampers the global bio-refinery plant market.
- Technological development in the field of bio-refiners is expected to create considerable opportunities for the market. Furthermore, an increase in pollution levels globally is also estimated to boost the adoption of more bio-refined products.
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North America to Capture Major Share of Global Bio-Refinery Plant Market
- North America is expected to lead the global bio-refinery plant market owing to an increase in the number of bio-refineries in the region due to ongoing research and development and government subsidies in the field of bio-refinery plants. The National Renewable Energy Laboratory (NREL) of USA is a leading player in the field of bio-refinery research with path-breaking discoveries and inventions. The technology is still in the nascent stage; however, it holds the key to the optimum utilization of wastes and natural resources that humans have always tried to achieve.
- The bio-refinery plant market in Asia Pacific is estimated to expand at a considerable pace due to an increase in the rate of pollution owing to extensive usage of fossil fuels by different countries in the region, which has prompted government of these countries to look for other alternatives such as biofuels, which are not harmful for the environment.
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Key Players Operating in Global Bio-Refinery Plant Market
The global bio-refinery plant market is highly fragmented, with the presence of various key players. A large number of manufacturers hold a major share in their respective regions.
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