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Biomass for Biofuels, Biochemicals Will More than Triple to 3.7 Billion Tons in 2030
Growing demand will place stress on feedstocks, requiring new innovations if more bio-based products are to replace petroleum-based ones, says Lux Research
BOSTON, MA – February 5, 2013 – Driven by aggressive biofuel mandates, rapid growth will cause great strain on biomass by 2030, according to Lux Research. Using today’s technologies, an area the size of Russia would need to be cultivated to replace all of petroleum use for chemicals and fuels – feedstock innovation will be needed to keep growing biomass’s market share.
“ Today, biofuels and biochemicals need more than a billion metric tons of material annually to replace a mere 3% of total petroleum products,” said Kalib Kersh, Lux Research Analyst and one of the lead authors of the report titled, “Finding Feedstocks for the Bio-Based Fuels and Chemicals of Today and 2030.”
“By 2030, this number will soar to 3.7 billion metric tons, and meeting the growing challenge will require feedstock innovations such as crop modification, new value chain configurations, and agronomic technology improvements like irrigation and biosensors,” he added.
Lux Research built a database of 1,715 established and planned bio-based chemical and fuel facilities that address supply-side issues, and evaluated new technologies that could make a significant difference. Among its findings:
The report, titled “Finding Feedstocks for the Bio-Based Fuels and Chemicals of Today and 2030,” is part of the Lux Research Bio-based Materials and Chemicals Intelligence and the Alternative Fuels Intelligence services.
About Lux Research
Lux Research provides strategic advice and ongoing intelligence for emerging technologies. Leaders in business, finance and government rely on us to help them make informed strategic decisions. Through our unique research approach focused on primary research and our extensive global network, we deliver insight, connections and competitive advantage to our clients. Visit www.luxresearchinc.com for more information.