Newark, Sept. 09, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 55 billion in 2023 global bioethanol market will reach USD 98.49 billion in 2033. The product that is produced when plant materials and agricultural produce are used to make ethanol is known as bioethanol. The term biomass refers to the plant materials and agricultural produce. Bioethanol is a green, eco-friendly, and non-renewable form of fuel or energy. It can be used as a substitute for petrol or in conjunction with it. The addition of ethanol lowers the emission of carbon-dioxide and other greenhouse gases that cause climate change. First-generation bioethanol, for example, is derived from edible crops. Third-generation bioethanol makes use of algae, while second-generation bioethanol uses biomass that isn't food. It not only lowers greenhouse gas emissions but also strengthens the agriculture sector of the economy.
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Scope of Bioethanol Market
| Report Coverage | Details |
| CAGR | 6% from 2024 to 2033 |
| Market Size in 2023 | USD 55 Billion |
| Market Size by 2033 | USD 98.49 Billion |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2020-2022 |
| Segments Covered | Feedstock Type and Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Key Insight of the Global Bioethanol Market
North America will dominate the market during the forecast period.
The expansion of the regional market is facilitated by a robust regulatory framework and government policies that encourage the production and use of bioethanol, such as subsidies and incentives. North American nations produce a lot of maize, which guarantees a steady supply of biomass for the synthesis of bioethanol. The development of the regional market is further aided by an established infrastructure that includes cutting-edge production facilities, enough storage, and a well-connected transportation network. The area is a centre for innovation that is advancing many industries, including the techniques and technologies used in the manufacture of bioethanol. The increased focus on the green economy has spurred technological innovation targeted at enhancing the production of bioethanol, which will expand the market in the area.
In 2023, the corn segment dominated the market with the largest market share of 40% and revenue of 22 billion.
The feedstock type segment is divided into sugarcane, corn, wheat, and others. In 2023, the corn segment dominated the market with the largest market share of 40% and revenue of 22 billion.
In 2023, the transportation segment dominated the market with the largest market share of 38% and revenue of 20.90 billion.
The application segment is divided into automotive, transportation, food and beverages, pharmaceuticals, cosmetics and personal care, and others. In 2023, the transportation segment dominated the market with the largest market share of 38% and revenue of 20.90 billion.
Advancement in market
Major oil marketing companies have placed an order of Rs 390 crore with India's TruAlt Bioenergy for the supply of 6 crore liters of 1G Bioethanol over a three-month period, from August to October 2024. Of the total quantity allotted, 10% has been obtained by the company. With its installed capacity, TruAlt can produce 10,200 kg of compressed biogas per day and 14 lakh liters of 1G bioethanol per day.
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Market Dynamics
Driver: A regulatory environment that is conducive and favourable government policies.
The need to lessen reliance on fossil fuels, which are the main source of greenhouse gas emissions that contribute to temperature rise, climate change, and environmental damage, has been brought to attention by the growing worries about climate change. It appears that ethanol is a promising fuel alternative. It is a fuel substitute that can be utilised. It can be combined with petrol as well. By decreasing greenhouse gas emissions and reliance on fossil fuels, it makes a beneficial contribution to a more environmentally friendly future. It is a sustainable alternative for the world economy because it is a renewable energy source. Governmental organisations are aware of this and are working to encourage the production and use of bioethanol through partnerships, collaborations, financing for research and development, subsidies, incentives, and awareness campaigns. By boosting farmer income and improving agricultural waste management, the production of bioethanol also benefits the agricultural economy. As a result, the expansion of the global bioethanol market will be fuelled by beneficial government policies and a regulatory environment that is supportive.
Restraints: Production and technological obstacles.
supplies chain constraints and unstable production lead to erratic raw material supplies, which limits market expansion. In addition, the market is adversely affected by the inefficient production that resulted in technological and infrastructure constraints. These inefficiencies limit scalability, which raises bioethanol prices and decreases adoption rates, ultimately curbing the market's expansion. As a result, production issues brought on by technological and infrastructural constraints will restrict the market's potential to grow.
Opportunities: developments in technology.
Technological constraints are limiting the potential expansion and scalability of bioethanol on the international market. Nonetheless, the value and allure of bioethanol as a sustainable and renewable fuel has led to a rise in research and development spending with the goal of enhancing bioethanol output and production. These breakthroughs have been made possible by technological advancements. Technological developments have increased feedstock options and efficiency, which has significantly increased bioethanol production. For example, advancements in fermentation techniques have all helped to raise yields, lower production costs, and produce more sustainably. For example, advancements in fermentation techniques have all helped to produce bioethanol with higher yields, lower production costs, and more sustainability. As a result, technical developments will enhance the methods used in the manufacturing of bioethanol and support the market's further expansion.
Challenges: The competing demands of raw-materials for fuel and food.
The need to reign in climate change and also ensure global food security stirs up the debate of producing and using agricultural materials like corn and sugarcane for bioethanol production or as food and for its derivatives. Diverting sugarcane and corn production to meet the rising demands for bioethanol can potentially impact the supply of sugarcane and corn in the food market. this can increase food prices which impacts income, consumption and savings. The increasing demand for bioethanol can lead to greater production of sugarcane and corn which diverts resources from other crops and also puts undue pressure on resources. Therefore, the competing demands in the food and fuel market will hamper the market’s growth.
The existing infrastructure with lack of bioethanol production, storage and transportation facilities will also hamper the market’s growth.
Some of the major players operating in the global bioethanol market are:
• Abengoa Bioenergy
• Archer Daniels Midland Company
• CropEnergies AG
• Green Plains Inc.
• Pacific Ethanol, Inc.
• POET LLC
• Raízen
• Royal Dutch Shell
• Tereos
• Valero Energy Corporation
Key Segments covered in the market:
By Feedstock Type
• Sugarcane
• Corn
• Wheat
• Others
By Application
• Automotive
• Transportation
• Food and Beverages
• Pharmaceuticals
• Cosmetics and Personal Care
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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