The report, now available on ASDReports, recognizes the following companies as the key players in the Global Biorefinery Market: Abengoa Bioenergy Corp., Aventine Renewable Energy, Neste Oil OYJ, Renewable Energy Group Inc., UOP LLC and Valero Energy Corp.
Other Prominent Vendors in the market are: BP Biofuels North America, Cargill, Poet, Sinopec, and du Pont.
Commenting on the report, an analyst said: “Currently there are only four countries to use biofuels in the aviation industry, but the overall goal of becoming carbon neutral will result in the biorefinery industry witnessing a large amount of investments in feedstock as well as in the manufacturing process. Moreover bio jet fuels have certain unique challenges that are expected to be met through new technologies. Therefore the aviation industry beginning to use biofuels will give a boost to the investments in the biorefinery industry.”
According to the report, the increasing need for environmental sustainability and energy independence is driving the usage of biofuels globally. The US Energy Independence and Security Act of 2007 was introduced to promote energy independence and energy security through the increasing production of renewable energy-based fuels and batteries. The biorefinery industry constitutes one of the major contributors to energy independence across the globe.
Further, the report states that biorefineries require advanced technology and a high level of expertise in energy and fuel production, which makes this a very capital-intensive market. The high initial costs required for the installation of a refinery are the major barrier for new entrants.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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