Pike Research sees US$170 billion in investments for biorefineries

A new study by market intelligence firm Pike Research shows that global investment in biorefineries from 2012 through 2011 will total US$170 billion. It is projected that some 1,800 biorefineries will be built in the next decade, 925 of which will be advanced biorefineries that can process non-food feedstock.
“Bolstered by emerging biofuels blending mandates, improved access to low-cost feedstocks, and a steady increase in strategic financing, the biorefinery is entering a period of renewed innovation and investment”, said Mackinnon Lawrence, senior analyst at Pike Research. The present global market value for advanced biorefineries totals US$ 3.9 billion, or less than 5% of the conventional biorefinery market, but this is expected to change, as almost all global investment is focused on advanced biorefineries. The biorefining sector includes technologies to convert biomass into bio-based products including fuels, chemicals, power, food and renewable oils. (September 26, 2012)