Global Bioethanol Market is likely to showcase robust growth owing to reducing reliance on conventional fuels
- Himanshu Patni
- November 14, 2023
- ENERGY & POWER, NEWS
- Bioethanol Market, Bioethanol Market Forecast, Bioethanol Market share, Bioethanol Market size, Bioethanol Market trends
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The global bioethanol market stood around $114.7 billion in 2022 and is expected to showcase double digit growth during the forecast period (2023-2030). Growing industrial sector paired with rising support of government policies to reduce carbon emissions this would increase the overall demand for bioethanol.
Bioethanol is currently being considered as a potential replacement for conventional gasoline, particularly because it has similar and some superior properties that allow the reduction of greenhouse gases and increase fuel reserves. Bioethanol, which is used for commercial purposes, is generally made from edible raw materials such as corn and sugar cane. However, owing to high cost of these raw materials, large investment in R&D is currently going on, to produce a more efficient cost-effective product. This would, result in the larger adoption of bioethanol among various settings.
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During the Covid-19 pandemic in the early 2020, majority of the countries and region witnessed a country wide lockdown which led people to minimize the usage of personal vehicles, thus, creating a negative impact on the demand for ethanol-blended gasoline fuel, which, in turn, negatively impacted the bio-ethanol market’s demand.
FIG. 1 North America Bioethanol Market Revenue (2020-2030)- USD Bn
· Based on feedstock, the market is segmented into starch based, sugar based, cellulose based, and others. Among them, sugar and starch based bioethanol hold a lucrative market share. This is mainly owing to government focuses on increasing crop cultivation which are extensively used in bioethanol production. In India, according to NITI Aayog report, government is encouraging use of water-sparing crops, such as maize, to produce ethanol by biological ways.
· Based on fuel blend, the market is divided into E5, E10, E15 to E70, E75 & E85, and other blends. Among these, E10 held a considerable market share in 2022. Further, countries are focusing to increase the blend bioethanol in gasoline which would result in lower carbon emissions, better air quality, self-reliance, use of damaged food grains, increased farmers’ incomes, employment generation.
· Based on end user, the market is segmented into transportation, Pharmaceutical, Cosmetics, Alcoholic Beverage, others. Among these, transportation hold the hand on the market to refuel gasoline engines in road vehicles, it is used in addition to normal gasoline. Additionally, it is capable of producing ETBE, an octane enhancer found in many different types of gasoline. The renewability of bioethanol is increased by blending it with conventional fuels. E10 energy gets its name from the 10% ethanol it contains. A low-carbon fuel like bioethanol could aid in the decarbonization of the transportation sector.
· By Production Technology, the market is mainly segmented into Dry Mill, Wet Mill, Others. Bioethanol is the main product of the dry milling process while wet milling is more efficiently designed to separate various products and parts of corn for food and industrial uses including corn starch and corn oil, as well as ethanol.
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of APAC), and Rest of World. In terms of value, North America is projected to hold a considerable market share in bioethanol market during the forecast period due to the large scale production and demand for bioethanol in the region. Government regulations regarding use of ethanol blend would also propel the market size of bioethanol. In addition to this, availability of surplus raw material for producing bioethanol is also driving the market in the region. For instance, the Renewable Fuel Standard (RFS) in the United States mandates that a specific amount of transportation fuel sold in the country be derived from renewable sources, such as bioethanol. Similarly, the Renewable Energy Directive (RED) of the European Union establishes targets for the use of renewable energy in transportation, including biofuels.
For a detailed analysis of the Bioethanol Market browse through – https://univdatos.com/report/bioethanol-market-2/
Global Bioethanol Market Segmentation
Market Insight, by Feedstock
· Starch based
· Sugar based
· Cellulose based
· Others
Market Insight, by Fuel Blend
· E5
· E10
· E15 to E70
· E75
· E85
Market Insight, by End User
· Transportation
· Pharmaceutical
· Cosmetics
· Alcoholic Beverages
· Others
Market Insight, by Production Technology
· Dry Mill
· Wet Mill
· Others
Market Insight, by Region
· North America Bioethanol Market
o United States
o Canada
o Rest of North America
· Europe Bioethanol Market
o Germany
o United Kingdom
o France
o Spain
o Italy
o Rest of Europe
· Asia-Pacific Bioethanol Market
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of World
Top Company Profiles
· Abengoa Bioenergy S.A.
· Archer Daniels Midland Company
· British Petroleum PLC.
· Bluefire Ethanol Fuels Inc.
· Cropenergies AG
· E. I. DU PONT DE NEMOURS AND COMPANY
· Petróleo Brasileiro S.A.
· Poet LLC
· Royal Dutch Shell PLC
· Valero Renewable Fuels Company LLC