Sustainable economic growth potential of biomass-enriched countries through bioenergy production: State-of-the-art assessment using product space model

The current study aims to examine the economically viable biomass feedstocks for bioenergy generation and their export potential. The Product Space Model (PSM) is the primary tool used to achieve the aim by accomplishing certain objectives. The study’s findings show that Pakistan has abundant biomass resources for energy production. Canola oil, leather flesh wastes, and poultry fattening show the highest PRODY values, 46,735, 44,438, and 41,791, respectively. These have high-income potential and are considered feasible for export after meeting local energy demand. While goat manure, cashew nutshell, and cotton stalk show lower income potential having values of 3,641, 4,225, and 4,421, respectively. The biowastes having low-income potential are more beneficial to utilize in energy generation plants within the country. The United States is observed to make the most sophisticated products, indicated by an EXPY value of 36296.89. While the minimum level of sophistication is observed for Indonesia, as revealed by its EXPY value of 22235.41 among all considered countries. The PSM policy map analysis of the current study shows that Pakistan and Argentina are located in the Parsimonious Policy quadrant, suggesting shifting toward unexploited products closely related to the existing export baskets. Although the United States, China, India, Indonesia, and Brazil are found in the most desired Let-it-be Policy quadrant. They have more room to diversify their industries and enhance their export potential. The study has practical applications in economic, social, and environmental perspectives, focusing on economic, clean, and sufficient energy. Furthermore, exportable biomass feedstocks are identified to strengthen the economy. Further research must be conducted to evaluate other indicators of the PSM to explore the proximity aspect of PSM, as it would provide a clearer picture of bioenergy and biomass export prospects