Biofuels and biorefineries: Development, application and future perspectives emphasizing the environmental and economic aspects

The fossil fuel utilization adversely affected the environmental health due to the rising emission levels of greenhouse gases. Consequently, the challenges of climate change loaded great stress on renewable energy sources. It is noted that extreme consumption of fossil fuels increased the earth temperature by 1.9 °C that adversely influenced the life and biodiversity. Biorefinery is the sustainable process for the production of biofuels and other bio-products from biomass feedstock using different conversion technologies. Biofuel is an important component of renewable energy sources contributing to overall carbon-neutral energy system. Studies reported that on global scale, over 90% of petroleum goods could be produced from renewable resources by 2023, whereas, 33% chemicals, and 50% of the pharmaceutical market share is also expected to be bio-based. This study details the brief review of operation, development, application, limitations, future perspectives, circular bioeconomy, and life cycle assessment of biorefinery. The economic and environmental aspects of biofuels and biorefineries are briefly discussed. Lastly, considering the present challenges, the future perspectives of biofuels and biorefineries are highlighted.