The global market for biorefinery technologies should increase at a five-year (2016-2021) compound annual growth rate (CAGR) of 8.9% to reach $714.6 billion in 2021, according to a new report from BCC Research. The analysts explained that biorefineries employ technologies in which biomass such as organic wastes are converted into useful intermediates for fuels, energy, chemicals and non-food herbal/botanical compounds by direct combustion as well as by thermal, chemical and biological processes. Biorefinery technologies were said to encompass four main platforms: physicochemical, biological, thermochemical and hybrids.
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