Global Market for Biorefinery Applications to Reach $700.7 Billion in 2018; Biomaterials Growing at 22.8% CAGR
The global biorefinery applications market is expected to grow to nearly $700.7 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 12.6%. The biomaterials market is the fastest growing segment with a CAGR of 22.8%.
Wellesley, Mass. (PRWEB) March 26, 2014
BCC Research (http://www.bccresearch.com) reveals in its new report, Biorefinery Applications: Global Markets, the global biorefinery applications market is expected to grow to nearly $700.7 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 12.6%. The biomaterials market is the fastest growing segment with a CAGR of 22.8%.
The use of biomass as raw material for bioproducts such as materials, chemicals, pharmaceuticals and energy has received significant world wide attention during the last decade. Industrial biotechnology (IB) is globalizing the biorefining industry with large-scale investments and is expected to drive bio-derived chemicals, the largest segment in the overall market, to reach $331.3 billion in 2018, to register a CAGR of 16.3%.
However, as the global manufacturing and construction sectors of the economy recover, demand for biomaterials, by far the fastest moving segment, will accelerate at a tremendous CAGR of 22.8% to reach $21.5 billions in 2018.
"One of the biggest challenges facing the world today is how to reduce the carbon-dioxide emissions to save our planet," says BCC Research energy analyst Edward Gobina. "The automobile industry is one of the major contributors to this mess and that is why the industry is making moves to tackle the problem. Biomaterials such as bioplastics from plant oils and sugars, biofoams and biorubber from plant oils and latex, biocomposites manufactured from agricultural (e.g., hemp, flax, kenaf) and forestry biofibres, are now being used, in for example, the production of automobile tires, door panels and parts and othe high-value construction applications."
Biorefinery Applications: Global Markets provides an overview of the global biorefinery applications market, including a complete techno-economic and environmental analysis of industrial biorefinery applications. It presents an analysis of global market trends, with data from 2011, 2012, and 2013, and projections of compound annual growth rates (CAGRs) through 2018. This report includes breakdowns of demand by applications, including industrial, safe food supply, transportation, healthcare industry, recreation, residential/housing, communication, and environment, as well as coverage of all biomass fractionation and conversion technologies. In addition, it presents forecasts for biomass conversion processes and equipment to produce fuels, power, and chemicals from biomass and evaluations of the prospects for biorefineries built on different "platforms," such as the "sugar platform," based on fermentation of sugars extracted from biomass feedstocks, versus the "syngas platform," based on thermochemical conversion processes.
This report is intended for anyone concerned with the development of agriculture, energy and fuels, as well as those interested in where the biorefinery applications market is heading over the next five years.
Editors and reporters who wish to speak with the analyst, should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Our clients include the top companies in industries around the world as well as universities, business schools, start-ups, consulting firms and investment companies. BCC Research is a unit of Eli Research LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (weekdays, U.S. Eastern time), or email help(at)bccresearch(dot)com.
For the original version on PRWeb visit: http://www.prweb.com/releases/2014/03/prweb11705570.htm