Bioethanol Market Research Report: By Raw Material (Maize, Wheat, Industrial Beet, Sugarcane, Cereals & Starch, Others), By Application (Transportation, Power Generation, Food & Beverages, Industrial, Medical, Others) - Forecast 2027
|ID: VPR/CR/1167||Publishing Year: January 2022||Pages: 103||Format:|
Bioethanol Market Overview:
Due to increased demand for a cleaner and renewable source of energy, the Worldwide Bioethanol MARKET is likely to rise significantly over the forecast period. Bioethanol is a biodegradable and renewable energy source made from biomass and created through a sugar fermentation and chemical process. Because of its high octane value and lower greenhouse gas emissions, Bioethanol is a viable alternative to conventional gasoline sources. Furthermore, the depletion of traditional energy resources and a growing focus on renewable energy sources are likely to boost Bioethanol market growth over the next seven years. Furthermore, technological developments and increased R&D to create ethanol from algae are predicted to increase demand due to its faster rate of production and natural occurrence in the sea, both of which will lower production costs. Furthermore, because of the low pricing compared to other fuels such as diesel and petrol, use is projected to rise. However, crop cultivation for ethanol production necessitates a substantial amount of arable land, which is predicted to limit market expansion throughout the forecast period. Furthermore, farmers' desire to move from food to fuel crops is likely to result in a global shortage of food crops.
- Cropenergies AG (Germany),
- Cristal Union (France),
- Archer Daniels Midland Company (U.S.),
- Petrobras (Brazil), Tereos (France),
- Alcogroup (Serbia),
- DowDuPont (U.S.),
- BlueFire Renewables Inc. (U.S.),
- Pannonia Bio (Hungary),
- Valero Marketing and Supply Company (U.S.),
- BP PLC (U.K.)
The development of Biobased alternatives can assist produce a more environmentally friendly option while also reducing the need for fossil fuels. Bioethanol's natural components make it more practical than fossil fuels, whose global reserves are expected to be depleted rapidly over the next few decades. Simultaneously, the combustion consequences are less harmful to the environment than fossil fuels since they lack harmful sulphur and nitrogen molecules. The growing global support for environmental agreements is expected to be a key driver for the Global Bioethanol Market throughout the forecast period.
Regulatory mandates are expected to have a significant impact on bioethanol production over the projection period's duration.
The Bioethanol Industry's technological advancements have led to the development of second and third-generation Bioethanol, which is expected to remain a potential prospect in the global market over the projection period. The third-generation Bioethanol category includes algae-based Bioethanol Production stations, which represent a watershed moment for the Bioethanol Industry due to the wide range of possible fuels they may produce and the larger volume of algal bioethanol produced.
Feedstock, End-Use, and Geography are the three segments that make up the global bioethanol market.
The market is divided into Cellulose-Based Bioethanol, Starch-Based Bioethanol, Sugar-Based Bioethanol, and Others based on the feedstock. The Bioethanol Market by Feedstock is predicted to grow steadily in all segments, with a significant increase in the CAGR.
The market is divided into Transportation, Pharmaceuticals, Cosmetics, and Others based on End-Use. BIOETHANOL is a low-cost, ecologically beneficial alternative to petroleum-based vehicles. To make Bioethanol mixtures, a tiny fraction of Bioethanol is blended with pure gasoline to produce a fuel that burns more effectively and emits no carbon dioxide. As a result, the transportation segment dominates the end-user market and is expected to maintain its dominance during the forecast period. Many governments throughout the world have made the use of bioethanol fuel blends mandatory. The demand for Bioethanol in the transportation end-use industry rises as a result.
North America is one of the world's top consumers of automobile fuel and employs a variety of ethanol fuel blends due to its large-scale manufacturing of Bioethanol. Furthermore, nations such as the United States and Canada have made the use of higher Bioethanol mixes mandatory in cars, making North America the Bioethanol Market leader over the forecast period.
Geographically, the market is examined in North America, Europe, Asia-Pacific, and Latin America and the Caribbean. Because of regulatory blending rules and the huge number of manufacturing enterprises in the United States, North America dominated the industry in 2015, accounting for over two-thirds of the worldwide ethanol market. Due to increased production capacity in China, Thailand, and India, Asia-Pacific is predicted to develop at the fastest rate throughout the projection period.
The COVID-19 outbreak has shifted ethanol markets, with numerous APAC countries, such as South Korea, requiring U.S. ethanol for manufacturing purposes. Sanitizing goods are in higher demand across the region, according to the country. Despite these short-term consequences, fuel ethanol standards remain possible for future development, and regional councils are working hard to expand market access in certain countries. As the coronavirus pandemic reduces gasoline use and pushes corn-based fuel to the sidelines, several ethanol plants in the United States have decreased or halted output. The coronavirus outbreak has disrupted the lives of people all around the world. The fuel requirement has slashed as governments demand that people stay home to combat the COVID-19 epidemic. Manufacturing margins for ethanol, which the US demands to be blended into the country's fuel group, have decreased, raising fears of plant closures and job insecurity. In early March, ethanol refining margins in the Corn Belt were as low as -11 cents per gallon.
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