Fuel Ethanol Market By Source (Synthetic, Natural), By Product (Starch Based, Sugar Based, Cellulosic), By Application (Conventional Vehicles, Flexible Fuel Vehicles), By End Use Industry (Automotive, Oil and Gas, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global fuel ethanol market size was valued at $86.0 billion in 2021, and is projected to reach $134.5 billion by 2031, growing at a CAGR of 4.61% from 2022 to 2031. Fuel ethanol is ethyl alcohol that is used as fuel. It is most often used as motor fuel, mainly as a biofuel additive for gasoline. It is commonly made from biomass such as corn or sugarcane. Ethanol blended fuel is widely used in Brazil, the U.S., and Europe. Most cars on the road today in the U.S can run on blends of up to 10% ethanol, and ethanol represented 10% of the U.S. gasoline fuel supply derived from domestic sources. Some flexible fuel vehicles are able to use up to 100% ethanol. Natural source ethanol is a form of renewable energy that can be produced from agricultural feedstock. It can be made from very common crops such as sugarcane, potato, cassava, and corn. There has been considerable concerts about its production and uses relate to increased food prices due to large amount of arable land required for crops as well as the energy and pollution balance of the whole cycle of ethanol production, especially from corn. Currently 93% of ethanol fuel is produced form natural source, while 3% from the synthetic source. The presence of investments in the past decade and recent emergence of the importance regarding the impact of transportation sector on the environment led to the demand for the fuel ethanol market. The major developing nations are making progress toward climate goals for 2030 and are essential to unlocking the potential for fully zero-carbon by 2050 are major driving factors for the growth of the market during the forecast period. The major factors that hamper the development of the fuel ethanol are mainly due to the restrictions of the insufficient presence of feedstock and the presence of less efficiency conversion of biomass. In addition to this, this market also faces problems in regards with less number of refineries, which are unable support the ever-growing surge in the demand. The fuel ethanol market is segmented on the basis of source, product, application, end-use industry and region. On the basis of source, the global fuel ethanol market is segmented into synthetic and natural. On the basis of product, the market is segmented into starch-based, sugar-based and cellulosic. On the basis of application, the market is bifurcated into conventional vehicles, and flexible fuel vehicles. On the basis of end use industry, the global market is classified into automotive, oil & gas, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific. The major companies profiled in this report include Braskem, BP PLC, Cargill Incorporated, INEOS, HPCL Biofuels Limited, Lyondell Basell Industries Holdings BV, Mitsubishi Chemical Corporation, SABIC, Sasol Limited, Solvay SA. Other companies that are not profiled in the report include Archer Daniels Midland Company, KFS Biodiesel GmbH & Co KG, Petrosun, Inc., Red Rock Biofuels, Shirke energy, Targray Technology International Inc., and Vega Biofuels. Rapid urbanization and surge in the development of transportation infrastructure has fuelled the demand for fuel ethanol market in order to reduce the impact of transportation sector on the environment. Additional growth strategies such as expansion of production capacities, acquisition, collaboration, joint venture, and partnership, in the development of the innovative products from manufacturers have helped to attain key developments in the global fuel ethanol market trends. COVID-19 analysis: COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries which has limited the growth of the market. The shutdown of industrial manufacturer led to the decline in the demand for vehicles for transportation and the shutdown of transportation sector in most of the countries across the world led to decline in the demand of the fuel ethanol market. The decrease in utilization of transportation facilities across the globe during the outbreak has a negative impact on the development of the market.
Key benefits for stakeholders Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the industry for strategy building. It outlines the current trends and future estimations of the market from 2022 to 2031 to understand the prevailing opportunities and potential investment pockets. The major countries in the region have been mapped according to their individual revenue contribution to the regional market. The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study. The profiles of key players along with their key strategic developments are enlisted in the report.
Key Market Segments
By Source ? Synthetic ? Natural
By Product ? Starch Based ? Sugar Based ? Cellulosic
By Application ? Conventional Vehicles ? Flexible Fuel Vehicles
By End Use Industry ? Automotive ? Oil and Gas ? Others
By Region ? North America ? U.S. ? Canada ? Mexico ? Europe ? Germany ? U.K. ? France ? Italy ? Spain ? Rest of Europe ? Asia-Pacific ? China ? Japan ? India ? South Korea ? Rest Of Asia Pacific ? LAMEA ? Brazil ? Saudi Arabia ? South Africa ? Rest of LAMEA ? Key Market Players ? Braskem S.A. ? BP Plc ? Cargill Incorporated ? INEOS ? HPCL Biofuels Limited ? LyondellBasell Industries Holdings BV ? Mitsubishi Chemical Corporation ? SABIC ? Sasol Limited ? Solvay SA
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