Bioethanol Market 2020- COVID-19 Analysis, Players, Investment Feasibility and Forecast 2023
Market
Overview
Market
Research Future (MRFR) has announced a new release on the global bioethanol
market. The report talks about the potential growth trajectory of the global
bioethanol market with respect to the market’s historical growth patterns and
current conditions. The granular structure and competitive landscape of the
global bioethanol market has also been studied in the report to familiarize
readers with the internal structure and dynamics of the market. According to
the report, the global bioethanol market was valued at USD 34,059.3 million in
2017 and is expected to rise to a valuation of USD 44,396.5 million by 2023 at
a strong CAGR of 4.61% over the forecast period (2018-2023).
The
Global Bioethanol Market has
been driven mainly by the growing recognition of the need to reduce greenhouse
gas emissions due to their adverse environmental impact. Conventional fuels
such as petrol and diesel emit significant amounts of greenhouse gases, due to
which bioethanol has become an increasingly popular alternative to be used in
isolation as well as in combination with the traditional fuels. Growing
government support to the use of bioethanol is likely to be a major driver for
the global bioethanol market over the forecast period. An increasing number of
governments investing in the production of bioethanol as well as setting up
appropriate infrastructure required for its large-scale adoption is likely to
continue over the forecast period and drive the global bioethanol market at a
sturdy growth rate.
Technological
development in the bioethanol industry has led to development of second- and
third-generation bioethanol, which is likely to remain a highly promising
avenue in the global bioethanol market over the forecast period. Developing
production processes that yield the highest amount of bioethanol most
efficiently is likely to be a key competitive strategy for players operating in
the bioethanol market.
Segmentation
Analysis:
The
Global Bioethanol Market is segmented on the basis of raw material,
application, and region.
By
raw material, the global bioethanol market is segmented into maize, wheat,
sugarcane, industrial beet, cereals and starch, and others. Maize is likely to
dominate the global bioethanol market over the forecast period due to its
large-scale production all over the world and the consequent ease of its
availability. Maize accounted for 42.7% of the global bioethanol market in
2017. It can rise from a value of USD 14,535.5 million in 2017 to USD 19,795.1
million by 2023. The segment can accrue a volume of 49,915.9 thousand tons by
2023, at a CAGR of 4.25% during the forecast period. Wheat follows maize in
terms of volume and value. This can be attributed to excess of agricultural
residue within wheat straws. It can reach a value of USD 11,626.2 million by
2023. The segment’s volume is predicted to touch 27,328.3 thousand tons in the
same year.
By
application, the Global Bioethanol Market is segmented into transportation,
food and beverages, industrial, power generation, medical, and others.
Transportation accounted for a dominant share of 79.1% in the global bioethanol
market in 2017, followed by food & beverages. It is likely to remain by far
the most dominant application of the bioethanol market over the forecast period
due to the growing scale of commercial and passenger transportation and the
high cumulative impact of the overall transportation sector on the environment.
It can exhibit a CAGR of 4.76% over the forecast period to rise from a value of
USD 26,947.3 million in 2017 to USD 35,436.7 million by 2023.
Competitive
Landscape
·
Cropenergies AG
·
Cristal Union
·
Archer Daniels Midland Company
·
Petrobras
·
Tereos
·
Alcogroup
·
DowDuPont
·
BlueFire Renewables Inc.
·
Pannonia Bio
·
Valero Marketing and Supply Company
·
BP PLC
Regional
Analysis
The
Global Bioethanol Market is segmented into North America, Latin America,
Europe, Asia Pacific, and the Middle East and Africa.
North
America held a 58% share in the global bioethanol market in 2017 and is likely
to remain the leading contributor over the forecast period due to the growing
popular and government support to the development of environmentally viable and
sustainable fuels. The widespread cultivation of maize in North America has
also provided the bioethanol market in the region with a highly promising and
fertile business environment. The region is expected to be the major regional
market for bioethanol due to the growth of the transportation sector and
increasing mandates to make the sector more viable from an environmental perspective.
The regional market was valued at USD 19,743 million in 2017 and is expected to
rise to a valuation of USD 25,987.6 million by 2023. The market volume can
touch 63,377.7 thousand tons by 2023, at a CAGR of 3.71% during the assessment
period.
Latin
America is likely to retain the second position in the global bioethanol market
behind North America due to the growing government support for the use and
production of bioethanol. Brazil is the second largest producer of ethanol fuel
in the world, accounting for close to a quarter of the global figures for the
same. Bioethanol production in Latin America is likely to continue to grow at a
steady rate over the forecast period due to the conducive environmental
conditions and supportive government regulations. The region can reach a
valuation of USD 12,611.7 million by 2023. It can accumulate a volume of
29,673.4 thousand tons in the same year.
Comments
Post a Comment