Biorefineries have the potential to meet a significant part of the growing demand for energy, fuels, chemicals and materials worldwide. Indeed, the bio-based industry is expected to play a major role in energy security and climate change mitigation during the 21th century. Despite this, there are challenges related to resource consumption, processing optimization and waste minimization that still need to be overcome. In this context, microalgae appear as a promising non-edible feedstock with advantages over traditional land crops, such as high productivity, continuous harvesting throughout the year and minimal problems regarding land use. Importantly, both cultivation and microalgae processing can take place at the same site, which increases the possibilities for process integration and a reduction in logistic costs at biorefinery facilities. This review describes the actual scenario for microalgae biorefineries integration to the biofuels and petrochemical industries in Brazil, while highlighting the major challenges and recent advances in microalgae large-scale production.