Ethanol Market Witness a Sustainable Growth Research Report by Key Players Analysis
The Global Ethanol Market is expected to reach USD 137.14 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the rapid replacement of leaded fuel with ethanol additives and the availability of inexpensive feedstock for the production of ethanol fuel.
Ethanol fuel is a less expensive energy source since,
production of fuels using wastes of corn, sugar cane or grains is more
economical as compared to fossil fuels, which can be a bane to the economy of
most countries, especially, and developing countries who cannot afford to
explore them. Thus, the adoption of ethanol as a fuel by these growing
economies can boost the market for Ethanol.
Moreover, global warming which is caused by constant
emission of hazardous greenhouse gases from the use of fossil fuels, such as
natural gas, oil, and coal, which are resulting in catastrophic effects
including rising sea levels, weather pattern changes, and excessive heat.
Combustion of ethanol fuel only releases carbon dioxide and water, which is
ineffective to environmental degradation.
Lacking amount of agricultural production required for
ethanol production is one of the factors restraining the growth of the market.
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Competitive
Landscape:
The global Ethanol Market is extremely competitive and
comprises various key players at global and regional levels. Major players are
focused on adopting various strategies such as mergers and acquisitions,
partnerships and joint ventures, R&D investments to establish market
footing and expand their product base. These are investing in R&D to
develop enhanced products and devices, modern farming systems and other
techniques to boost farm and livestock productivity.
Major
companies operating in the global Ethanol market:
· The
Andersons, Inc. (USA)
· Advanced
BioEnergy LLC (USA),
· BlueFire
Renewables (USA),
· Archer
Daniels Midland Company (USA),
· Cargill
Incorporated (USA),
· BP
PLC (UK),
· Mascoma
LLC (USA),
· Flint
Hills Resources (USA),
· Pacific
Ethanol, Inc. (USA), and
· Panda
Energy International Inc.
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Further key findings from the report
suggest
- The
market is segmented on the basis of raw material into crops, wastes,
biomass, starchy grains and fossil fuels.
- Crops
segment dominated the market in 2020, and will have the highest growth of
6.4% during the forecast period, since crop waste-based fuels reduces
greenhouse emissions.
- The
market is segmented on the basis of product type into starch-based,
sugar-based and cellulosic.
- Starch-based
segment held the largest share of the global market in 2020, and is
forecasted to witness a growth of 5.0% during the forecast period.
- The
starch-based fuel is produced by using raw materials such as corn, wheat,
barley, and cassava, which can reduce greenhouse gas (GHG) emissions to a
substantial amount.
- The
market is segmented on the basis of application into conventional fuel
vehicles, flexible fuel vehicles and others.
- Conventional
fuel vehicles segment dominated the market in 2020, accounting for ~60% of
the global market share, and is forecasted to have a CAGR of 4.6% during
the forecast period.
- The
rising demand for conventional fuel vehicles in countries such as the US,
India, Brazil, and China, is expected to boost the consumption of ethanol
fuel in the coming years.
- The
market is segmented on the basis of industry vertical into oil & gas,
food & beverages, automotive, chemicals & materials, healthcare
& pharmaceuticals, and others.
- Automotive
segment dominated the market in 2020, and will maintain its dominance,
with a growth of 6.5% during the forecast period.
- The
market is segmented on the basis of geography by North America, Europe,
Asia Pacific, Latin America and Middle East & Africa.
- North
America dominated the market in 2020, with a forecasted CAGR of 6.0%
during the forecast period, due to the occupancy of a well-established
automotive industry and stringent regulations regarding greenhouse
emissions.
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Segments covered in the report:
Raw material Outlook (Volume, Kilo tons;
2020-2028 and Revenue, USD Billion; 2020-2028)
- Crops
- Fuel
crops (Algae)
- Corn
- Sugar
crops
- Wastes
- Food
waste
- Forest
waste
- Agricultural
waste
- Biomass
- Starchy
grains
- Fossil
fuels
Product type Outlook (Volume, Kilo tons;
2020-2028 And Revenue, USD Billion; 2020-2028)
- Starch-based
- Sugar-based
- Cellulosic
Application Outlook (Volume, Kilo
tons; 2020-2028 And Revenue, USD Billion; 2020-2028)
- Conventional
fuel vehicles
- Flexible
fuel vehicles
- Others
Industry vertical Outlook (Volume, Kilo tons;
2020-2028 And Revenue, USD Billion; 2020-2028)
- Oil
& gas
- Food
& beverages
- Automotive
- Chemical
& materials
- Healthcare
& pharmaceuticals
- Others
Region Outlook (Volume, Kilo tons;
2020-2028 and Revenue, USD Billion; 2020-2028)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- Middle
East & Africa
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