Use this report to: - Analyze the basic concepts and principles of operation of equipment used for biorefinery conversion. - Assess and quantify the international trade in biorefinery products with forecast to 2021. - Examine the basic concepts and principles of operation of equipment used for biorefinery conversion. - Evaluate the value chain of basic products and the structure of the biorefinery industry and its interaction with the fossil-based industry.
Highlights The global market for bioproducts should reach $714.6 billion by 2021 from $466.6 billion in 2016 at a compound annual growth rate (CAGR) of 8.9%, from 2016 to 2021. The non-energetic bioproducts market should reach $477.0 billion by 2021 from $281.7 billion in 2016 at a CAGR of 11.1%, from 2016 to 2021. The energetic bioproduct market should reach $237.6 billion by 2021 from $184.9 billion in 2016 at a CAGR of 5.1%, from 2016 to 2021.
STUDY GOAL AND OBJECTIVES
BCC Research has recently completed a study on the demand for biorefinery products. The goal of this study is to identify, examine, assess and quantify the most significant products that can be sustainable using biomass feedstocks as petroleum substitute with forecasts over the next five years to 2021.
The objectives of this BCC Research report are therefore to: - Understand the various biorefinery products. - Understand the importance of biorefinery products and where they fit in the economy. - Appreciate biomass resource availability. - Understand the biomass transformation process for various bio-products. - Understand the basic concepts and principles of operation of equipment used for biorefinery conversion. - Understand the value chain of basic products and the structure of the biorefinery industry and its interaction with the fossil-based industry. - Understand the typical operations and requirements for the establishment of biorefinery platforms. - Evaluate the results of geographical diversification in biorefinery products and feedstocks. - Quantify the market and end-use of biorefinery products with five-year forecasts. - Provide a critical evaluation of the current status of commercial biorefinery markets and how recent environmental legislation and breakthroughs in technology will make the use of biobased products competitive with established fossil-based platforms. - Assess and quantify the international trade in biorefinery products with forecast to 2021.
REASONS FOR DOING THE STUDY
On May 18, 2016, the U.S. Environmental Protection Agency (EPA) proposed the volume requirements and associated percentage standards that apply in calendar year 2017 for cellulosic biofuel, biomass-based diesel, advanced biofuel and total renewable fuel. The proposal also covers volume requirements for biomass-based diesel for 2018.
The proposal foresees a 4% increase of the total renewable fuel volume between 2016 and 2017; from 18.11 billion gallons (68.6 billion liters) to 18.8 billion gallons (71.2 billion liters). On Dec. 12, 2015, at the United Nations Framework Convention on Climate Change (UNFCCC) 21st Conference of the Parties (COP21) in Paris, 195 nations set the direction to maintain global temperature increase well below 2°C.
Building on the goals of the Sustainable Energy for All (SE4All) initiative, the new Sustainable Development Goals adopted in 2015 include biorefinery technologies as an important pillar of the global commitment to end poverty, protect the environment and ensure prosperity for all.
In 2015 also, the world witnessed a notable milestone in the development of the bioeconomy, as occasioned by the production of second-generation (2G) biofuels that finally took off at commercial scale. The U.S., the European Commission’s Lead Market Initiative and numerous Asian, Latin American and even African economies aim to facilitate an early adoption of biorefinery products in various markets by 2022. By removing market barriers and introducing new mechanisms such as mandates to facilitate market entry, it will be possible to build early markets of sufficient scale, which will help justify costly investments, bring down unit production costs, generate higher returns on investment and reduce risks for investors and entrepreneurs.
The traditional fossil-based industry is very capital-intensive, but has attained maturity with highly efficient transformation pathways. The biobased products industry, on the other hand, is still in its early stages of development and currently, in 2016, has a market penetration of only 5.5% and is less capital-intensive, but has in general a very long journey to make in order to achieve the efficiency of fossil-based processes. Although its ‘’green’’ credentials attached to many of its products can be a boost to any initial discussion with the potential customer further down the line, these green credentials must be underpinned with advantages of performance. Several companies are strategizing huge opportunities in this green arena by deploying thermochemical, biological, hybrid and/or chemical conversion technologies, and these initiatives will increase market penetration to 6.5% in 2021.
Conventional resources, mainly fossil fuels, are becoming limited because of the rapid increase in energy demand. 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 one such environmentally friendly renewable resource from which various useful chemicals and fuels can be produced. A system similar to a petroleum refinery is required to produce fuels and useful chemicals, materials and pharmaceuticals from biomass, and is known as a biorefinery.
Unlike other studies dealing with this subject, this research report quantifies the two categories of energetic and non-energetic bioproducts into seven major product segments: bio-derived chemicals, biofuels, pharmaceuticals (biodrugs and herbal/botanicals), biocomposite materials, biopolymers/bioplastics, biogas and biopower. More importantly, the report examines the different drivers shaping each of these segments and discusses these differences so as to eliminate any confusion in the debate on bioproducts, and to help companies choose the correct strategic investment path. This biorefinery product report is therefore designed to provide the information required by anyone concerned with the development of agriculture, chemicals, pharmaceuticals, energy and fuels.
These people include the following: - Technology management and personnel. - New business/development management and personnel. - Merchant project investors and developers. - Utility procurement personnel. - Green power marketers. - Generation asset owners looking to diversify their portfolios. - Energy market advisors. - New energy professionals. - Veteran energy professionals. - Attorneys and counsel to the energy industry. - Managers and directors of renewable energy. - Process engineers. - Chemical and biochemical engineers. - Agrochemicals producers. - Plant operations engineers. - Graduate engineers. - Supervisors. - Operators. - Chemists and technicians. - Soft commodity traders. - Venture capital investors. - Commodity brokers and analysts. - Biofuel producers. - Trade-commodity financiers. - Investors. - Fund managers. - Biofuels technology and equipment suppliers. - Chemical manufacturers. - Commodity inspectors and surveyors. - Commodity exchanges. - Electricity generating companies. - Government officials and regulators. - Industry analysts. - Agricultural and feedstock suppliers. - Energy and environmental researchers. - Vegetable oil crushers and refiners. - Fuel marketers and distributors. - Automobile manufacturers. - Project developers. - Government experts from developed and developing countries. - Technology providers. - Verifiers, certifiers and validators. - Financial intermediaries (e.g., banks, insurance companies). - Brokers and traders interested in metering. - Persons in the sensor and monitoring markets. - Law firms. - Accounting and auditing firms. - Marketing managers. - Senior petrochemical executives. - Oil and gas marketing companies.
METHODOLOGY AND DATA SOURCES
Historic and current data were used in the demand analysis of this report. The results of the calculations presented are based on three components: a historic analysis of demand from 2013 to 2015, estimated data for 2016 and forecasted demand from 2016 to 2021. Secondary research information was used to derive market numbers for each segment of the report and further validated our analysis with C-level executive information of major companies operating in the bioproducts market. The report contains data obtained from government sources, trade associations and publications, business journals, scientific papers, company literature, investment reports and interviews with industry professionals.
Statistics on U.S. production, imports and exports are taken from the U.S. Census Bureau and the U.S. International Trade Commission. Europe production and trade data are primarily taken from Eurostat, and trade data for other nations is taken from the respective customs office for each country and the UN Comtrade database. Other sources include U.S. EPA, UNCTAD, the International Council of Chemistry Associations (ICCA), the American Chemistry Council (ACC), the European Chemical Industry Association (CEFIC), and CropLife International as well as reports from intergovernmental agencies including the UN Environment Programme (UNEP), the UN Industrial Development Organization (UNIDO) and the UN Food and Agriculture Organization (FAO), among others. Additional data sources are the U.S. Geological Survey (USGS), Biotechnology Industry Organization (BIO), U.S. Department of Energy (USDOE) and the U.S. Department of Agriculture (USDA) as well as articles in industry journals and peer-reviewed academic journals.
Proprietary data sources used for this report include the Chemical Economics Handbook and the Specialty Chemicals Update Report series, both published by SRI International, the American Chemistry Council’s Guide to the Business of Chemistry and data from the International Lead and Zinc Study Group. Sources for the health and environmental impact sections include peer-reviewed journal articles as well as reports and statistics from governmental and intergovernmental agencies, including the World Health Organization (WHO) and the World Bank.
SCOPE OF THE REPORT
This research report quantifies the two categories of energetic and non-energetic bioproducts into seven major product segments: bio-derived chemicals, biofuels, pharmaceuticals (biodrugs and herbal/botanicals), biocomposite materials, biopolymers/bioplastics, biogas and biopower.
The report is divided in 14 chapters. Chapter Two contains the demand by category with forecast to 2021. - Chapter Three presents an overview that defines and quantifies biorefinery products and assesses market trends and categories/segments with a forecast to 2021. - Chapter Four presents the history, opportunity and penetration of bio-products with a forecast to 2021. - Chapter Five presents the demand for energetic bioproducts and analyzes the market for biofuels, biogas and wood pellets, with regional breakdowns and forecasts to 2021. - Chapter Six presents the demand for non-energetic bioproducts and analyzes the market for chemicals, pharmaceuticals and biomaterials. These are quantified by type, with regional breakdowns and forecasts to 2021. - Chapter Seven considers the applications of bioproducts and quantifies the demand in up to 11 key markets, and offers forecasts to 2021. - Chapter Eight considers the technology and quantifies demand by type of technology used for the conversion of biomass to bioproducts, and offers forecasts to 2021. - Chapter Nine presents the product development in the chemical, pharmaceutical, materials, power and fuel sectors, which will enable utilization of the 170 billion tons of biomass that Earth’s biology produces every year. - Chapter Ten presents an analysis of the industry structure, showing how each market segment will interact over the next five years to 2021, including the macroeconomic factors that affect the global economy. - Chapter Eleven presents the international aspects, including market leadership. It also quantifies international trade in bioproducts with a forecast to 2021. - Chapter Twelve presents the market shares of the major companies involved in the manufacture of biobased products, and discussed these companies and products. - Chapter Fourteen presents company product profiles and identifies the various companies involved in the manufacture of these products. - Chapter Fifteen analyzes the regulatory environment of the biorefinery industry.
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