New York, United States, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The Global Bioethanol Market size is To Grow from USD 53.05 Billion in 2022 to USD 112.43 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period.
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Bioethanol, also known as ethanol or ethyl alcohol, is a renewable fuel derived from biomass. It is produced through the fermentation of sugars and starches found in crops like corn, sugarcane, and wheat. Bioethanol serves as an environmentally friendly alternative to fossil fuels, particularly in the transportation sector. It can be blended with gasoline or used as a standalone fuel in flexible fuel vehicles. Benefits of bioethanol include reduced greenhouse gas emissions, enhanced energy security, and support for rural development through increased agricultural activities. However, ethical concerns arise regarding land use conflicts, food security, and the diversion of crops from food production. Thus, responsible bioethanol production practices are essential, focusing on sustainable crop cultivation, efficient land management, and the utilization of non-food biomass sources.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Bioethanol Market Size, Share, and COVID-19 Impact Analysis, By Feedstock (Starch Based, Sugar Based, Cellulose Based, and Others), By Fuel Generation (First Generation, Second Generation, and Third Generation), By Fuel Blend (E5, E10, E15 TO E70, E75 TO E85, and Others), By End-Use (Transportation, Alcoholic Beverages, Cosmetics, Pharmaceuticals, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The starch based segment is projected to grow at a higher CAGR of around 7.5% during the forecast period
Based on the feedstock, the global bioethanol market is segmented into starch based, sugar based, cellulose based, and others. The starch-based segment is expected to witness significant growth during the forecast period. The starch is a widely available and cost-effective raw material for various industries, including food and beverages, pharmaceuticals, and packaging. The versatility of starch as a functional ingredient in these sectors drives its demand and subsequent market growth. Additionally, the increasing trend of clean label and natural ingredients in food and beverage products is fueling the demand for starch-based ingredients. Starches are recognized for their functional properties, such as thickening, stabilizing, and texturizing, which make them valuable additives in food applications. Moreover, the rising awareness and preference for plant-based and sustainable products are driving the demand for starch-based alternatives in various industries. Starches derived from renewable sources like corn, wheat, and potatoes offer a renewable and biodegradable option compared to synthetic materials, which further contributes to market growth.
The transportation segment held the largest market share with more than 34.7% in 2022
Based on the end-use, the global bioethanol market is segmented into transportation, alcoholic beverages, cosmetics, pharmaceuticals, and others. The transportation segment has emerged as the market leader, holding the largest share in the bioethanol industry. This can be attributed to the significant demand for cleaner and more sustainable fuels in the transportation sector. Bioethanol, as a renewable and low-carbon fuel option, has gained traction as an alternative to fossil fuels. It is widely used as a blending component in gasoline or as a standalone fuel in flexible fuel vehicles (FFVs). The transportation segment's dominance is driven by the need to reduce greenhouse gas emissions, promote energy security, and comply with government regulations and mandates promoting biofuel adoption.
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Asia-Pacific is predicted to grow at a higher CAGR of around 7.9% over the projected period
Based on region, Asia-Pacific is poised to experience significant growth in the bioethanol market during the forecast period. The region has a large and rapidly growing population, driving the demand for energy and transportation fuels. Additionally, countries in the Asia-Pacific region, such as China and India, are actively seeking cleaner and more sustainable energy solutions to address environmental concerns and reduce reliance on fossil fuels. Furthermore, favorable government policies and incentives promoting the use of biofuels, coupled with increasing investments in bioethanol production infrastructure, are expected to fuel market growth. Moreover, the region has abundant agricultural resources that can be utilized for bioethanol feedstock, providing a solid foundation for expansion in the bioethanol market in Asia-Pacific.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the global bioethanol market include POET LLC, Pacific Ethanol, The Anderson Inc., Flint Hills Resources, Abengoa Bioenergy, Archer Daniels Midland, Bioethanol Japan Kansai Co Ltd, BlueFire Ethanol Fuels Inc., Cremer Oleo GmbH & Co., CropEnergies AG, Green Future Innovations Inc., Green Plains, Nordzucker AG, Petrobras Biocombustiveis, Raizen Energia, Royal Dutch Shell PLC, Soufflet Group, Tereos, and Valero Energy Corporation.
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Recent Developments
In January 2022, Wolf Carbon Solutions and the Archer Daniels Midland Company (US) have teamed together to hasten the decarbonization of ethanol production. The goal of this alliance is to create and put into use cutting-edge technologies and procedures that lower carbon emissions all throughout the value chain of ethanol production. Wolf Carbon Solutions and Archer Daniels Midland Company work together to advance a more ecologically responsible and sustainable ethanol sector.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global bioethanol market based on the below-mentioned segments:
Bioethanol Market, By Feedstock
- Starch Based
- Sugar Based
- Cellulose Based
- Others
Bioethanol Market, By Fuel Generation
- First Generation
- Second Generation
- Third Generation
Bioethanol Market, By Fuel Blend
- E5
- E10
- E15 TO E70
- E75 TO E85
- Others
Bioethanol Market, By End-Use
- Transportation
- Alcoholic Beverages
- Cosmetics
- Pharmaceuticals
- Others
Bioethanol Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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