Copenhagen Economics has conducted a study on the economic potentials in the bio-based economy. The study was commissioned for Biorefining Alliance as part of the AGROBIOSAM project sponsored by GUDP.

The bio-based economy is basically about using biomass as a raw material in industrial production. Most people know about biofuels, bioenergy and biogas, but fewer people know about bio-based chemicals, plastic, pharmaceuticals, building and insulation materials and many other examples. In fact, most of the products we currently produce from oil and gas could be produced from biomass instead, and importantly from second generation biomass such as straw, corn stover, algae, organic waste and wood residue.

The bio-based economy has enormous potential. In addition to addressing several overarching political objectives, it taps into an existing market of grand proportions. Several studies suggest that the bio-based economy will expand over the next 10-20 years, implying that the demand will increase for expertise in designing and constructing biorefineries, for machinery and equipment within the biorefinery and related to the entire value chain, and naturally an increased demand for biomass.

The main conclusions are:

• The bio-based economy provides an answer to important policy objectives such as: climate change, energy security, resource efficiency, and growth and jobs in rural areas
• The market potential for bio-based products is large, as it taps into several and very large markets such as transport fuels, chemicals, and building materials
• We have identified numerous Danish competencies a long the entire bio-based value chain that make it likely that Danish firms will benefit from the expected expansion of the bio-based economy globally over the next 10-20 years.

Thehere full report (in Danish) can be downloaded here

For further information please contact Partner Sigurd Næss-Schmidt

Find more information about the project (in Danish) here