The Global Biorefinery Products Market is accounted for $498.02 Billion in 2017 and is expected to reach $1,110.9 Billion by 2026 growing at a CAGR of 9.3% during the forecast period.
Marketprognosis.com published a new market research report on “Global Biorefinery Products Market 2018 – 2026” which contains global key player’s survey information and forecast to 2026. The report spread across 160 pages is an overview of the Global Biorefinery Products Market. It is a complete overview of the market, covering various aspects prevailing market landscape.
Growing concern for energy security, accessibility of low-cost raw materials and volatility in fossil fuel prices are some of the key driving factors for the market growth. However, huge initial investment and minus availability of buyer and supplier are hindering the growth. Moreover, increasing promotional activities for bio-based products by biotechnologists and chemists is one of the major opportunities during the forecast period.
On basis of feedstock, green biorefineries segment witnessed considerable growth due to increase in generation of electricity and process heat, through CHP (combined heat and power) technology, for its own use. According to the report, on the basis of regional analysis, North America acquired largest market share owing to its varied range of availability and being able to maintain an ecological balance.