Mandatory use of bioethanol fuel blends in the transportation industry is projected to drive the overall growth of the bioethanol market across the globe from 2020 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 Compound Annual Growth Rate (CAGR) of 14.0% from 2020 to 2025. The global bioethanol industry has witnessed high growth primarily because of the mandatory usage of bioethanol fuel blends in many countries, especially in the transportation vehicles. The countries are looking for alternative fuel source with less greenhouse gas (GHG) emissions. They also want to achieve energy security by reducing their dependence on crude oil imports.
In terms of both value and volume, starch-based feedstock is projected to grow at the highest CAGR during the forecast period. Starch-based feedstock for bioethanol production is projected to grow at the highest CAGR during the forecast period, in terms of value as well as volume.The growth of this feedstock is attributed to the high production of corn crop in the US.
Corn is the most widely used starch-based feedstock for bioethanol production, owing to its large-scale availability.In addition to bioethanol, starch-based feedstock also produces co-products, such as corn syrup, distilled dried grains, and animal feed.
Thus, producers are opting for the use of corn or starch-based feedstock in bioethanol production.
Transportation end-use industry segment is projected to lead the bioethanol market from 2020 to 2025. The use of gasoline in vehicles releases large amount GHGs in the atmosphere, causing air pollution and global warming.Bioethanol is mixed with petroleum and the fuel-blend burns more efficiently and lower the carbon emission rate of the vehicles.
Bioethanol is also cheaper than petroleum, and thus countries are trying to use it as an alternative fuel to reduce their crude oil dependency; and thus, boosting the bioethanol consumption in the transportation end-use industry in the process.
In terms of both value and volume, the North American market is projected to contribute to the maximum market share during the forecast period. In terms of value, the North America region is projected to be the largest market for bioethanol market from 2020 to 2025 due to large production facilities and more fuel consumption in countries, including the US, Canada, and Mexico.The demand is supported by mandating the use of higher ethanol blends in the US and Canada.
This will increase the demand for bioethanol in the market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the bioethanol market. • By Company Type: Tier 1: 20%, Tier 2: 55%, and Tier 3: 25% • By Designation: CXOs: 25%, Managers: 25%, and Executives: 50% • By Region: North America: 60%, Europe: 20%, Asia Pacific: 10%, Middle East & Africa: 5%, and
South America: 5% The global bioethanol market comprises major manufacturers, such as Archer Daniel Midland (US), POET LLC (US), Green Plains (US), Valero Energy Corporation (US), Tereos (France), Raizen (Brazil), Flint Hills Resources (US), Pacific Ethanol (US), The Andersons Inc. (US), and Sekab Biofuels & Chemicals (Sweden)
Research Coverage The market study covers the bioethanol market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on fuel blend, feed stock, end-use industry, and region.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their positions in the bioethanol market.
Key Benefits of Buying the Report The report is projected to help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall bioethanol market and its segments and subsegments.This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
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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