Rockville, Nov. 18, 2022 (GLOBE NEWSWIRE) -- The Cellulosic Ethanol Market revenues were estimated at US$ 980.5 Mn in 2021 and is anticipated to grow at a CAGR of 46.4% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 56.3 Bn.
The key feedstock for Cellulosic Ethanol includes Energy Crop where the demand growth was recorded at 42.3% during 2017 – 2021, while it is expected to grow at CAGR of 51.9% during 2022 –2023. The key revenue drivers which affect the Cellulosic Ethanol demand are growing prices for conventional fuels, carbon dioxide emissions from conventional fuels that contribute to global warming, and the usage of coal for energy production that can cause the combustion of cancer-causing chemicals such ethyl benzene, xylene, toluene, and benzene which can be substituted with cellulosic ethanol for traditional fuels. Besides, cellulosic ethanol also generates jobs by supporting farmers, installing new gas pumps, and utilizing water-saving plant layouts. Additionally, the nation producing cellulosic ethanol has the ability to generate cellulosic ethanol on-site, thus saving money on crude oil exports.
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Current and past government regulations that call for increasing the production of cellulosic ethanol for use as a fuel, gas, feedstock, power source, and for medical purposes are pushing the market. As cellulosic ethanol consumption rises, the likelihood that items made from it will be utilized as a fuel in the future rises. The growing use of fuel in developing countries is also helping to positively enhance the global market for cellulosic ethanol.
Key Takeaways from the Study
- Cellulosic Ethanol Market is estimated at US$ 1.3 Bn in 2022. According to Fact.MR, Cellulosic Ethanol Market revenue would increase 43X between 2022 and 2032, reaching roughly US$ 56.3 Bn in 2032.
- In terms of Feedstock, Energy Crop is projected to account for the highest projected CAGR of over 51.9%.
- In terms of end-use, Transportation accounts for the highest CAGR of 32.4% during the historic period (2017-21).
- U.S. is the dominant country in Cellulosic Ethanol Market with an absolute dollar growth opportunity of over US$ 18.1 Bn.
Cellulosic Ethanol Market Segmentation
By Feedstock:
- Energy Crop
- Agriculture Waste
- Municipal Solid Waste
- Forest Residue
- Other Feedstock
By End-Use:
- Cellulosic Ethnol Application in Transportation
- Industrial Application of Cellulosic Ethnol
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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Competitive Landscape
The companies in the Cellulosic Ethanol market are focused on improving cellulosic ethanol, with minimum waste. Some of the key producers of cellulosic ethanol include Dow, Fiberight, GranBio, Abengoa, Novozymes, BP PLC, BlueFire Renewables, Inc., Beta Renewables SpA, Shandong Longlive Bio-Technology, and Poet-DSM Advanced Biofuels LLC.
Some of the recent developments in the Cellulosic Ethanol market are:
- In March 2022, a contract was announced between a corporation located in Hyderabad and a farmers' organization in Latur, Maharashtra. It will be India’s first ethanol production refinery project that will start with a daily capacity of 30,000 liters.
- In January 2022, Clariant announced that with its first commercial Sunliquid facility it is possible to make cellulosic ethanol from agricultural waste.
- In October 2022, Stuttgart Airport tested innovative bioethanol fuel from CropEnergies. A 20% renewable ethanol fuel is being tested by CropEnergies, Stuttgart Airport, and Mabanaft Deutschland, a mineral oil firm.
The conversion of cellulosic ethanol into fuel is thought to be the most profitable application
The most used end-use market for Cellulosic Ethanol worldwide is the transportation sector; demand increases by 32.4% from 2017 to 2021. Demand for Cellulosic Ethanol in the transportation sector is expected to increase by 46.5% from 2017 to 2022. Cellulosic ethanol consumption is rising worldwide because of rising gasoline prices, the devaluation of sterling, and cellulosic fuel's reduced pollution emissions.
According to the niti.gov report, alcohol may be mixed with India at a 20 percent concentration. The research also concludes with a nation-wide plan for complete E20 ethanol in five years. India is likely to gain a lot from rapidly blending 20 ethanol over the next five years. These advantages include annual savings of over Rs 30,000 crore in foreign currency exchange, energy security, lower carbon emissions, better air quality, self-sufficiency, utilization of damaged food production grains, higher farmer income, job development, and enhanced investment prospects.
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Cellulosic Ethanol Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Cellulosic Ethanol in terms of Feedstock (Energy Crop, Agriculture Waste, Municipal Solid Waste, Forest Residue and Other Feedstock) of End-Use, (Transportation and Industrial) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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