A questionnaire survey on the potential of biorefinery products was carried out along with
an analysis of energy prices and wood assortments. Electricity production was considered
to have the potential for the highest investment return over ten years, followed by solid
wood products, bioenergy assortments and textiles. Only pulp and paper were perceived as
returning lower potential investment values over the next ten years than over the next five.
Of the survey respondents, 95% believed that the value of woody biomass will increase over
the next ten years, mainly through its replacement of oil-based products, although there
will be problems due to lack of suitable raw material. A wide range of chemical products
were described but a greater confidence in more traditional solid fuel products still prevails.
Stemwood is the most favored part of the tree with only a few respondents saying
that they wanted specific chemicals extracted. The electricity price and wood fuel price
were found to be strongly correlated and 91% of respondents said their products would be
affected by the electricity price. Electricity prices within OECD countries are expected to
increase by 15% from 2011 to 2035, with wood fuel prices increasing by roughly 10% during
the same period. Therefore, the electricity price could become a decisive factor in the
future use of biomass in biorefineries. Our results suggest that large-scale commercial
biorefinery production will soon be possible but new wood assortment classifications are
needed that include both fiber properties and chemical properties such as extractive
content.