WEST HARTFORD, Conn. — Global Information Inc. announces the addition of a new market research report “Biorefinery Products: Global Markets” at GIIResearch.com BCC Research estimates that the global demand for bioproducts will increase at a double-digit compound annual growth rate (CAGR) of 12.6% over the next five years to reach $700.7 billion in 2018 from $387.6 billion in 2013, when it will attain a market penetration rate of 5.5% in 2018, from an estimated rate of 4.2% in 2013.
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 from biomass and is known as a biorefinery.
Both 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 2010-2013, estimated data for 2013 and forecasted demand for 2013-2018. 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.
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