Wednesday 11 February 2015, Amsterdam
The new report recognizes the following companies as the key players in Global Biorefinery Market: Renewable Energy Group Inc., Neste Oil OYJ, UOP LLC, Valero Energy Corp., Abengoa Bioenergy Corp., Aventine Renewable Energy, Inc., BP Biofuels North America LL, Cargill, Inc., and Poet LLC.
Commenting on the report, an analyst from the new reports team said: “The demand for bioethanol is majorly driven by the transportation sector. Ethanol is blended with gasoline in order to reduce the environmental impact of gasoline and to reduce the dependency on fossil fuels. Ethanol is used for blending as it has a higher octane number than gasoline, providing premium blending properties. Ethanol can significantly reduce the pollution from a vehicle, which is one of the driving factors for increasing biorefineries and the production of bioethanol in order to meet demand and reduce environmental impact.”
According to the report, one of the major drivers in the market is the depleting natural resources around the globe. There has been an increase in the demand for energy from both developing and developed nations. In addition, the supply-demand gap in terms of energy has been widening in recent years, which drives the need to generate energy from different sources.
Further, the report states that one of the major challenges in this market is the high cost of the installation of biorefineries. The initial cost of energy and fuel production is high. This can have a negative impact on the growth of the market in the short term.
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.