Global biorefineries investment seen at USD 170bn in 2012-2022
Sep 26, 2012 - Global investment in biorefineries will total USD 170 billion (EUR 132bn) in the period from 2012 through 2022, according to a new study by cleantech market intelligence firm Pike Research.
The Indistrial Biorefineries report projects that some 1,800 biorefineries will be built in the next decade, of which 925 advanced biorefineries that can process non-food feedstock.
"Bolstered by emerging biofuels blending mandates, improved access to low-cost feedstocks, and a steady increase in strategic financing, the biorefinery is entering a period of renewed innovation and investment", says Mackinnon Lawrence, senior analyst at Pike Research, which is part of Navigant Consulting (NYSE:NCI).
At present, the global market value for advanced biorefineries totals USD 3.9 billion, or less than 5% of the conventional biorefinery market. But almost all global investment in biorefineries is now focused on advanced biorefineries, the report notes.
The biorefining sector includes technologies to convert biomass into bio-based products including fuels, chemicals, power, food and renewable oils.