(Food-Beverage-News.Com, October 06, 2017 ) According to Publisher, the global Bioethanol market is valued at $48.7 billion in 2016 and is expected to grow at a CAGR of 6.4% to reach $75.5 billion by 2023. The global market for bioethanol derives much of its growth from the increasing demand for renewable energy sources. Additionally, rising environmental concerns, depleting conventional resources of energy, volatile petroleum prices, constant efforts in R&D to produce ethanol from algae, abundant raw material availability, lower greenhouse gas emissions, technological advancements and favorable government support through investment programs, regulations and policies are the factors likely to reflect positively on the demand for bioethanol over the forthcoming years. However, shift towards electric vehicles, food vs fuel debate and competition with other oxygenates may hamper the market's growth to some extent in the near future.
Bioethanol has been identified as the mostly used biofuel worldwide since it significantly contributes to the reduction of crude oil consumption and environmental pollution. It can be produced using various feedstocks such as cellulose, starch and sugarcane through fermentation and chemical process. Bioethanol is an attractive alternative to conventional fuel sources, which can be used in various end use industries such as automotive, chemical, power generation and cosmetics.
In 2016, starch based feedstock segment dominated the global bioethanol market. Furthermore, cellulose based feedstock segment is estimated to grow at the highest CAGR, owing to its abundance and sustainability. The E10 Fuel blend segment is estimated to account for the largest share in the global bioethanol market throughout the forecast period. Whereas, E75 to E85 fuel blend segment will be the fastest growing market due to rise in number of flex-fuel vehicles.
Among verticals, transportation segment accounted for the highest market share in 2016, owing to the increasing consumption of biofuels. Growing demand for bioethanol in road transport applications is expected to compel manufacturers to invest more in R&D to develop low-cost renewable fuel resources. However, alcoholic beverages segment is expected to witness fastest growth on account of increasing demand from emerging countries.
North America has been leading the global market for bioethanol. The growing usage of these products in the transportation industry and growing government & environment regulations are the factors anticipated to fuel the demand for bioethanol in North America over next few years, ensuring its dominance. On the other hand, Latin America and Asia Pacific regions are likely to witness strong growth due to the availability of arable land in India, China and Brazil.
Petrobras, Dupont, Royal Dutch Shell PLC, United Petroleum Pty, Flint Hills Resources, Abengoa Bioenergy S.A., BP PLC, CropEnergies AG, Hankinson Renewable Energy, Archer Daniels Midland Company, Honeywell, Absolute Energy, LLC, Pacific Ethanol, Inc., New Generation Biofuels Holdings, Inc., Poet, LLC, Global Green SA, Vivergo Fuels, Beckons Industries Ltd., Green Plains and Valero Energy Corporation are some of the leading players operating in the global Bioethanol market.
Regions Covered: -North America US Canada Mexico -Europe Germany UK Italy France Spain Rest of Europe -Asia Pacific Japan China India Australia New Zealand South Korea Rest of Asia Pacific -South America Argentina Brazil Chile Rest of South America -Middle East & Africa Saudi Arabia UAE Qatar South Africa Rest of Middle East & Africa
Company Profiling 10.1 Petrobras 10.2 Dupont 10.3 Royal Dutch Shell PLC 10.4 United Petroleum Pty 10.5 Flint Hills Resources 10.6 Abengoa Bioenergy S.A. 10.7 BP PLC 10.8 CropEnergies AG 10.9 Hankinson Renewable Energy 10.10 Archer Daniels Midland Company 10.11 Honeywell 10.12 Absolute Energy, LLC 10.13 Pacific Ethanol, Inc. 10.14 New Generation Biofuels Holdings, Inc. 10.15 Poet, LLC 10.16 Global Green SA 10.17 Vivergo Fuels 10.18 Beckons Industries Ltd. 10.19 Green Plains 10.20 Valero Energy Corporation
