Bio-Refinery Products Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019
Bio-refinery utilizes biomass conversion equipment and processes in order to produce fuels, chemicals, power and heat from biomass. The bio-refinery concept is equivalent to present petroleum refineries, which produce numerous products and fuels from petroleum. The International Energy Agency (IEA) defines bio-refining process as sustainable conversion of biomass into useful bio-based products. Additionally, with production of several products in a single process their intermediates; bio-refinery maximizes the value of production. Hence, these added value increases the profitability of bio-refinery products.
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Bio-refinery produces various products such as chemicals, materials, food and feed. There are basic two categories of bio-refined products namely, energetic and non-energetic products. Energetic products include products such as diesel and ethanol whereas non-energetic products are chemicals, plastics and composites. Due to their variety of application areas, bio-refinery products are being accepted globally, North America and Asia Europe are leading the market due to strict environmental norms. However, Countries such as China, India, Japan and Africa are expected to show significant demand for bio-refinery products.
Growing regulations enforcing sustainable energy and production processes are driving the growth of bio-refinery products market. Similarly, growing demand for energy across the globe is also availing the growth of bio-refinery products. However, the awareness should be raise among people for adopting bio-refinery products. Bio-refinery products are likely to substitute oil-refineries products in the near future.
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