Fort Collins, Colorado, Sept. 27, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Ethanol Market Size, Growth, Share, Statistics Report, By Type (Denatured and Undenatured), By Source (Sugar & Molasses Based Ethanol, Grain Based Ethanol and Second Generation Ethanol), By Application, By Region Forecasts, 2023-2032."
According to DataHorizzon Research, The ethanol market size was valued at USD 94.2 Billion in 2022 and is anticipated to reach USD 153.5 Billion by 2032 with a CAGR of 5.1%. The report comprehensively analyzes the market conditions at global and regional levels in the energy sector. It also highlights the collaborative strategies between key players and their overall impact on the global market.
Ethanol has varied applications as it is soluble in water and other organic compounds such as personal care, beauty products, and food additives. In food processing, it is used as an additive for the uniform distribution of food coloring and for enhancing food flavors. For instance, vanilla extract is made by soaking vanilla beans in ethanol. In personal and beauty care products, it is used as an astringent to clear skin, as a preservative in lotions and hairsprays, and as a disinfectant in hand sanitizer.
Additionally, the rising emphasis on reducing fuel emissions and carbon footprints has prompted many countries' increased use of ethanol fuel. Ethanol is a type of alcohol obtained from corn, sugarcane, and grain. It can be used in low-level gasoline blends like 10% ethanol and rest gasoline or high-level blends with 51% to 85% ethanol. The CO2 emission from a vehicle using ethanol is offset by the CO2 captured when feedstock crops are grown, which leads to their increased demand as fuel.
Furthermore, government policies regarding biofuels are also accelerating the market growth. In India, various measures are being taken by the central government, state governments, and automotive manufacturers to achieve the goal of 20% ethanol blending in petrol by 2025. Similarly, the Indonesian government announced that it plans to roll out 5% to 15% ethanol and 80% or higher percent gasoline blends for fuel usage in the coming years. These policies increase demand for ethanol fuel, augmenting market growth.
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Report Snapshot:
| Report Title | Ethanol Market |
| Market Size in 2022 | USD 94.2 Billion |
| Market Size by 2032 | USD 153.5 Billion |
| CAGR from 2023 to 2032 | 5.1% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors |
| By Type | Denatured and Undenatured |
| By Source | Sugar & Molasses Based Ethanol, Grain Based Ethanol, and Second Generation Ethanol |
| By Application | Energy, Transportation, Chemical and Others |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, South Africa, among others. |
| Major Market Players | United Breweries, Aventine Renewable Energy, Green Plains Inc. AB Miller, ADM, Archer Daniels Midland Company, Kirin, Pure Energy Inc., POET, LLC, Valero, British Petroleum, Advanced Bioenergy LLC, Cargill Corporation and Bunge North America, Inc. |
Segmentation Overview:
The global ethanol market has been segmented based on type, source, application, and region. By source, grain-based ethanol will dominate in the forthcoming years due to its profitability and accessibility. Based on application, the transportation segment accounted for a significant share in 2022 and is used as a fuel additive.
The North America ethanol market accounted for a significant share in 2022. Factors such as government policies, growing awareness of the benefits of using ethanol in the manufacturing industry, and government subsidies are catalyzing market developments in the U.S. Asia Pacific is a fast-growing market for ethanol and is projected to attain a dominant position in the forthcoming years.
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Ethanol Market Report Highlights:
- The ethanol market is projected at USD 153.5 billion at a CAGR of 5.1% by 2032.
- The ethanol market drivers include the growing demand for ethanol as an automotive fuel adhering to environment-friendly alternatives for petrol and gasoline. Besides, ethanol is used as a food flavoring agent in the food industry in varied applications across the food industry.
- Based on segmentation by source, the grain-based segment is leading and attributed to the high availability of corn, maize, starch, and their conversion process.
- Based on segmentation by application, the chemical segment is leading in the global market due to the widespread use of chemical solvents for manufacturing pharmaceuticals and detergents.
- The Asia Pacific ethanol market is projected to grow fast till 2032 due to the growing use of ethanol as a fuel alternative in the automotive industry.
- Some prominent players in the ethanol market report include United Breweries, Aventine Renewable Energy, Green Plains Inc., Alto Ingredients, AB Miller, Archer Daniels Midland Company, Kirin, Pure Energy Inc., POET, LLC, Valero, British Petroleum, Advanced Bioenergy LLC, Cargill Corporation, and Bunge North America, Inc.
Key Developments in the Industry:
- In 2023, Jagatjit Industries, based in Punjab, India, announced a massive investment to set up a grain-based ethanol production plant. With profit goals at the core, the company aims to expand by catering to the growing demand for green fuels.
- In 2023, Krishak Bharti Co-operative Ltd (KRIBHCO) invested around USD 11600 million to set up a grain-based ethanol production plant in the Indian states of Gujarat, Telangana, Andhra Pradesh with a production capacity of 250 Kiloliter per day.
- In October 2022, Harvestone Low Carbon Partners (HLCP) acquired the Midwest AgEnergy Group and its associated businesses, Blue Flint and Dakota Spirit. The acquisition diversifies HLCP's offerings in low-carbon renewable energy and carbon reduction solutions.
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Ethanol Market Report Segmentation:
Ethanol Market, By Type (2023-2032)
- Denatured
- Undenatured
Ethanol Market, By Source (2023-2032)
- Sugar & Molasses Based Ethanol
- Grain Based Ethanol
- Second Generation Ethanol
Ethanol Market, By Application (2023-2032)
- Energy
- Transportation
- Chemical
- Others
Ethanol Market, By Region (2023-2032)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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