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Oct 5, 2020 10:30 AM ET

Global Bioethanol Market Set For Rapid Growth, To Reach Around USD 79.6 Billion by 2024


iCrowd Newswire - Oct 5, 2020

Zion Market Research has published a new report titled “Bioethanol Market by Feedstock (Starch-based, Sugar-based, Cellulose-based, and Others), by End-Use Industry (Transportation, Pharmaceuticals, Cosmetics, Alcoholic Beverages, and Others), and by Blend (E5, E10, E15 to E70, and E75 to E85): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024”. According to the report, the global bioethanol market was valued at approximately USD 55.5 billion in 2017 and is expected to generate revenue of around USD 79.6billion by 2024, growing at a CAGR of around 5.3% between 2018 and 2024.

Bioethanol is a colorless liquid with a specific odor. Most people recognize the smell, as it is a spirit or pure alcohol. Bioethanol was previously produced by fermentation and distillation and was based on grain or corn. Currently, bioethanol is generally produced from straw stalks or corn. Bioethanol comprises biological products and combustion of bioethanol results in clean emissions. It is produced from a wide range of vegetable matter, such as forest residue, sugar cane and sugar beet, which makes it a renewable and sustainable fuel source. However, the high cost required for the investment of cellulosic ethanol and issues regarding the use of food crops for fuel production might curb the global bioethanol market in the upcoming years. Furthermore, the development of second and third-generation biofuels is anticipated to offer several growth opportunities to the bioethanol market players in the future. Bioethanol is a substitute for petrol. The manufacturers mainly focus on using agricultural and forest residues apart from energy crops, such as sugarcane bagasse, miscanthus, and switchgrass, for producing bioethanol. All these aforementioned factors are expected to drive the global bioethanol market over the forecast time period.

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Global Bioethanol Market

Rising consumption of alcoholic beverages among youth is expected to drive the market in the future. For instance, events like“Oktoberfest” are likely to spur the demand for alcoholic drinks, which, in turn, is predicted to fuel the bioethanol market in the upcoming years.

By feedstock, the bioethanol market is segmented into sugar-based, cellulose-based,starch-based, and others. Starch-based segment feedstock accounted for a major revenue share in 2017. This feedstock type uses barley, wheat, corn, etc. raw materials as feedstock for bioethanol production. Corn has the highest percentage of starch, around 70-72%. By end-user industry, the market is segmented into pharmaceuticals, transportation, alcoholic beverages, cosmetics, and others. Alcoholic beverages are expected to register the highest growth in the forecast timeframe, due to the rise in the purchasing power of people in emerging countries and the increasing adoption of alcoholic beverages in some cultures. By blend, this market includes E5, E10, E15 to E70,andE75 to E85.E10 segment held the highest market share in 2017. E75 to E85 blend is anticipated to grow at the highest growth rate in the future, due to the increasing number of flexible-fuel vehicles.

Europe, North America, Latin America, AsiaPacific, and the Middle East and Africa are the regional segments of the global bioethanol market. North America held a major revenue share of the global bioethanol market in 2017 and is anticipated to continue with its domination over the forecast period. The Asia Pacific is anticipated to register the fastest rate of growth over the forecast timeframe, due to the growing demand for alcoholic beverages in India and China.

POET LLC, Archer Daniels Midland Company, Valero Energy Corporation, Green Plains, Abengoa S.A., Flint Hills Resource, Royal Dutch Shell plc, Petrobras, The Andersons, andPacific Ethanol, Inc. are some of the leading players operating in the global bioethanol market.

This report segments the global bioethanol market as follows:

Global Bioethanol Market: FeedstockSegment Analysis

Global Bioethanol Market: End-Use IndustrySegment Analysis

Global Bioethanol Market: BlendSegment Analysis

Global Bioethanol Market: Regional Segment Analysis

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Keywords:    Bioethanol Market

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