According to the report, the Bio-ethanol market is expected to grow from USD 6,235 million in 2019 to USD 9,855 million by 2026, growing at a CAGR of 6.82% from 2019 to 2026.
Market Overview
The global Bio-ethanol market is estimated to be USD 6,235 million in 2019 and is expected to reach USD 9,855 million by 2026, with a CAGR of 6.82% during the forecast period.
The market is driven by the increased demand for bioethanol from various end-use industry segments, such as transportation, pharmaceuticals, cosmetics, alcoholic beverages, and others.
The main sources of sugar required to produce ethanol come from fuel or energy crops. These crops are grown specifically for energy use and include corn, maize and wheat crops, waste straw, willow and popular trees, sawdust, reed canary grass, cord grasses, Jerusalem artichoke, miscanthus, and sorghum plants. There is also ongoing research and development into the use of municipal solid wastes to produce ethanol fuel.
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Competitive Insights
Key players operating in this market include Alpha Chemika, Braskem, BASF, Bio-Amber, DSM, Mitsubishi Chemicals, Dairen Chemicals, Lucite International Group, Qingdao Kehai Biochemistry Co., Ltd, Itaconix Corporation, Zhejiang Guoguang Biochemistry Co.,Ltd., International Specialty Products, LyondellBasell Chemicals, Myriant, GF Biochemicals, Prinova LLC, E.I. du Pont de Nemours and Company, Metabolix, Inc., and Novozymes.
Regional Insights
In 2018, Asia Pacific occupied the largest share of 34.69%. North America accounted for the second of 32.85% share of the bioethanol market. Currently, the US is the largest market for bioethanol in North America and is expected to continue to be the largest market till 2025. In the US, the demand for bioethanol is expected to increase due to the increasing government and environment regulations in the country. Regulations such as the Federal Reformulated Gasoline (RFG) and E15 regulations contribute to the growing use of bioethanol in fuels. The other driving factor for the bioethanol market is the low price of corn, which is a prime feedstock used in the production of bioethanol in the country. Many bioethanol manufacturers are based in this region. Europe occupied 25.16% of Bio-ethanol market share.
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Based on the type, the Bio-ethanol market can be segmented into E10, E20, E25, E70, E75, and E85.
Application Insights
Based on application, the Bio-ethanol market is divided into Transportation, Construction, Pharmaceutical, Electronics, and others.
Transportation segment is anticipated to be the top investment pocket, owing to the rise in adoption of bioethanol as a transportation fuel and blending mandates by several regulatory bodies, such as Renewable Energy Directive (EU RED) and Renewable Fuel Standard (EPA RFS). In addition, with the rise in population and disposable income, the number of transportation vehicles is also increasing.
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Audience
l Bio-ethanol manufacturers
l Distributors and resellers of Bio-ethanol
l Bio-ethanol industry associations
l Product managers, Bio-ethanol industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
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