March 20, 2017
Wellesley, Mass., Mar 20, 2017 – New proprietary research by BCC Research reveals that the bioproducts industry will grow at eight times the global GDP growth rate in 2021. Additionally, the global market for bioproducts should gain almost $250 billion from 2016-2021, growing at an 8.9% compound annual growth rate (CAGR).
BCC Research's Biorefinery Products: Global Markets reports many energetic bioproducts are going commercial, with production technologies such as direct combustion in stoker boilers, low-percentage co-firing, municipal solid waste incineration with combined heat and power, dry/wet milling, fermentation and esterification becoming commercially available.
"The bio-based products industry remains in its early stages of development. In 2016 it had a market penetration of only 5.5%," says Kevin Fitzgerald, BCC Research editorial director. "It's got a long journey to make to achieve the efficiency of fossil-based processes. Several companies are strategizing with the intent of deploying a host of technologies that should increase market penetration to 6.5% in 2021."
Biomass Volume to Gain 8 Billion Tons by 2021
The rapid increase in energy demand continues to deplete conventional resources, mainly fossil fuels. This imbalance in energy demand and supply has placed immense pressure not only on consumer prices, but also on the environment, prompting mankind to look for sustainable energy resources.
"Biomass is at the heart of the biorefining industry. BCC Research estimates that volume demand for it will increase at a 6.5% CAGR over the next five years, to reach 30.0 billion tons in 2021," Fitzgerald says. "The markets for material products are open and unprotected, and market access is determined largely by technical suitability and price."
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Biorefinery Products: Global Markets( EGY117B )
Publish Date: Mar 2017
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