LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global bioethanol market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global bioethanol market will grow at a CAGR of close to 6% during the forecast period. The increasing demand for the continuous supply of clean fuel is a major factor driving the market’s growth.
Alternative fuels are being preferred due to the uncertainty in global energy security, fuel prices, and the continued rise in emission levels. In several commercial industries, the demand for clean fuels is increasing as they help reduce the carbon emission levels. Biofuels, such as bioethanol, are considered as renewable clean fuels as they are derived from renewable sources such as energy crops, cellulosic plants, and carbohydrate-containing organic products. Bioethanol is largely used as an alternative to conventional fuels and does not produce additional carbon emission.
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In this report, Technavio highlights the advancements in enzyme technologies as one of the key emerging trends in the global bioethanol market:
Advancements in enzyme technologies
In the production of bio-based fuels such as bioethanol from lignocellulose, hemicellulose, lignin, and other types of biomass, enzymes play a crucial role. The advancements in enzyme technologies have enabled the conversion of different types of biomass into renewable biofuels. Usage of enzymes aids in altering the chemical structure and properties of biomass and helps produce biofuel. Depending on the biomass type, plants contain varied compounds in different concentrations. The developments in enzyme technology have enabled the functioning of biofuel plants at a commercial scale.
“Advancements have led to a decrease in the production cost of ethanol and have increased the overall production volume. These advancements help manufacturers in producing a greater amount of bioethanol by processing less feedstock. Enzymes support the production of biomass by converting them into sugar and then to the biofuels such as bioethanol,” says a senior analyst at Technavio for research on bio-chemicals and bio-materials.
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Global bioethanol market segmentation
This market research report segments the global bioethanol market into the following key regions, including the Americas, APAC, and EMEA.
The Americas was the leading region for the global bioethanol market in 2017, accounting for a market share of nearly 52%. By 2022, the Americas will continue dominating the market and register the highest growth rate.
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