According to the new market research report “Bioethanol Market by Feedstock (Starch based, sugar based, cellulose based), End-use Industry (transportation, pharmaceuticals, cosmetics, alcoholic beverages), Fuel blend (E5, E10, E15 to E70, E75 & E85), and Region – Global Forecast to 2025″, The global bioethanol market size is projected to grow from USD 33.7 billion in 2020 to USD 64.8 billion by 2025, at a CAGR of 14.0%, from 2020 to 2025.
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E10 fuel blend accounted for the largest market share among the bioethanol fuel blends as the use of 10% ethanol fuel blends are expected to be made mandatory across many countries in the near future. The E10 fuel blend is a mixture of 10% bioethanol and 90% gasoline. The use of E10 fuel blends helps in improving the fuel efficiency of the vehicle and lowers the carbon emission in the atmosphere.
The transportation end-use industry led the bioethanol market in 2019, in terms of value and volume. Bioethanol is considered as an alternative fuel for the vehicles. It is mixed with crude oil in certain percentages to make the fuel burn more efficiently, and reduce GHGs, such as carbon monoxide and carbon dioxide. The use of bioethanol as an alternative fuel also reduces the oil import burden for some countries. Thus, countries are mandating regulations and laws to use bioethanol in transportation vehicles.
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The global bioethanol market size is projected to grow from USD 33.7 billion in 2020 to USD 64.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.0% during the forecast year. The growth of this market is attributed to the growing need for energy security by the countries, and the growing concern to reduce greenhouse gas (GHG) emissions from in the transportation industry.
The bioethanol market has been dominated by large players, such as the Archer Daniels Midland (US), POET LLC (US), Green Plains (US), Valero Energy Corporation (US), Flint Hills Resources (US), Pacific Ethanol (US), Tereos (France), The Andersons Inc. (US), Raizen (Brazil), Sekab Biofuels & Chemicals AB (Sweden). These players have adopted various growth strategies, such as expansion, divestment, merger & acquisition, and partnership/agreement, to increase their market shares and improve their distribution channel.
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In April 2020, Valero Energy Corporation started the production of hand sanitizers at its Iowa ethanol plant, in response to the shortage faced by the US due to the COVID-19 pandemic. It will distribute the sanitizers to communities surrounding the plants and local hospitals.
In June 2018, Archer Daniels Midland Company (ADM) (US) and DuPont (US) signed an agreement to develop, produce, and market cellulose enzymes for operators of grain-based ethanol plants.
In October 2019, The Andersons Inc (US) and Marathon Petroleum Corporation (US) formed a new entity, The Anderson Marathon Holdings LLC, under which, it operates four ethanol plants with a total capacity of 405 million gallons.
The COVID-19 outbreak has also impacted the bioethanol market. A sharp decline in the fuel demand has led to a decline in the demand as well as the prices of bioethanol. The report details the impact of COVID-19 on the bioethanol market.
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