DUBLIN--(BUSINESS WIRE)--The "Bioethanol Market by Feedstock (Starch Based, Sugar Based, Cellulose Based), End-use Industry (Transportation, Pharmaceuticals, Cosmetics, Alcoholic Beverages), Fuel Blend (E5, E10, E15 to E70, E75 & E85), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The market size for bioethanol was USD 43.2 billion in 2019 and is projected to reach USD 64.8 billion by 2025, growing at a CAGR of 14% between 2020 and 2025.
The global bioethanol industry has witnessed high growth primarily because of the mandatory usage of bioethanol fuel blends in many countries, especially in transportation vehicles. The countries are looking for an 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 the 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.
- Need for Energy Security by Countries
- Adoption of Higher Blending Standards Leading to Higher Consumption of Bioethanol
- Rising Demand for Electric Vehicles And Phase-Out of Fossil Fuel Vehicles
- Engine Modification Required for Higher Blends of Bioethanol
- Rising Demand From the Pharmaceutical Industry
- Policy Changes Regarding the Use of Bioethanol Blends
- Adverse Environmental Impact of Bioethanol Production
- Archer Daniels Midland Company (ADM)
- Poet Llc
- Green Plains
- Valero Energy Corporation
- Flint Hills Resources
- Pacific Ethanol
- The Andersons Inc.
- Sekab Biofuels & Chemicals AB
- Pannonia Bio
- BP Plc.
- Absolute Energy Inc
- Big River Resources
- United Petroleum
- White Energy Inc.
- Guardian Energy Management
For more information about this report visit https://www.researchandmarkets.com/r/pby6ui