Bioethanol Market Size to Worth Around USD 124.5 Billion by 2030

Tokyo, Oct. 11, 2022 (GLOBE NEWSWIRE) -- The E-10 category is expected to grow at a CAGR of 14.2% from 2022 and 2030.

In 2021, North America had a 36% share of the global bioethanol market.

The global bioethanol market size was accounted at USD 40.8 billion in 2021. Bioethanol is a form of liquid or gas fuel derived from biodegradable product components, agricultural and forest trash by products, also biodegradable fractions from industrial as well as municipal trash. Ethanol generated from sources of renewable energy is one of the most potential future biofuels. Bioethanol produced through lignin, microbial fermentation, cellulosic ethanol all provide a cost-effective source of energy. The increasing need for sustainable alternative fuels, the depletion of natural resources, rising energy usage, and excessive greenhouse gas emissions are major market growth factors.

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Additionally, the enormous volume of biomass that is readily available for production is promoting field research and growing the market. The bioethanol industry is negatively impacted by the COVID-19 epidemic. This is partially due to the decline in car use during the lockout. In addition, production locations and the distribution network were temporarily shut down due to the strict government restrictions implemented to stop the COVID-19 disease from spreading. As a result, bioethanol sales have decreased globally.

The drivers driving the global bioethanol market include rising environmental concerns, which encourage manufacturers to produce bioethanol, blending regulations from regulatory bodies such as the Environmental Protection Agency, and ample raw material availability.

Regional Snapshots

North America supplied the most sales to the bioethanol industry in 2021, and it is projected to continue to dominate the market in the future years. This will be mostly owing to the region's large-scale manufacturing of bioethanol in order to fulfil customer demand. Furthermore, the United States and Canada have mandated the use of bioethanol mixes in cars. Aside from favourable biofuel legislation, fast expansion in corn-based bioethanol production, increased crop yields, and a growing emphasis on energy efficiency are driving market growth.

Report Highlights

• Because of favourable government and environmental restrictions, notably in the United States, North America dominates the bioethanol industry. Furthermore, technological advances and the constantly growing automotive sector are likely to boost market expansion throughout the projection period.
• Bio-ethanol is used as a fuel and as a fuel additive in the automotive and transportation industries. Along with ordinary gasoline, it is used to fuel petrol engines in vehicles and trucks. It's also used to create ETBE an octane booster present in a variety of gasoline.
• According to the US Energy Information Administration (EIA), liquid fuel consumption is expected to rise from 19.1 million barrels per day in 2009 to 21.9 million gallons per day by 2035, up from 19.1 million barrels per day in 2009.
• The existence of alternatives such as bio-butanol would impede market growth due to the increased need for fuel in the transportation industry. Furthermore, decreasing automobile sales and output may have a negative influence on the market under study.

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Scope of the Report

Market Dynamics

Drivers

Government regulatory bodies supporting production are the key drivers of the global bioethanol industry. The market is expanding because to rising demand for mixing in gasoline and growing government initiatives to create and utilise cleaner fuels such as bio-ethanol. Stricter rules have prompted businesses to work on producing better, greener, and far less expensive energy. Market technological breakthroughs have led to the creation of the second and third-generation bioethanol, which is projected to remain a feasible potential in the worldwide market. Rising environmental concerns, which drive producers to generate bioethanol, blending rules from regulatory agencies such as the EPA (Environmental Protection Agency), and ample raw material availability are the factors driving the global bioethanol market.

Countries are focused on energy security as demand for energy has risen dramatically as a result of economic development, population growth, higher consumer affluence, and the discovery of new energy uses. Several countries continue to import enormous volumes of crude oil and may utilise it as a crude oil alternative, lowering their reliance. As a consequence of the rising emphasis on strengthening energy security, the worldwide bioethanol oil market is likely to benefit from attractive potential.

Restraints

Concerns have switched toward the use of biomass, particularly plants, in the manufacture of cost-effective fuels for a variety of applications. The utilisation of biomass in bioethanol production has proven cost-effective, although the primary hurdles encountered are in the development of inhibitors. The first, second, and third generation of feedstock are used in the bioethanol production from biomass. Pre-treatment for second-generation biomass, such as lignocelluloses, produces inhibitory by products.  weak acids, furans, and phenolic substances are among the inhibitors. Because of these inhibitors, the overall cost of the procedure rises. This review focuses on the procedure, the chemicals with inhibitory roles that are isolated from lignocellulose-rich biomass during pre-treatment, their mode of action, and how to minimise their impacts on the fermentation process.

Opportunities

Global bioethanol use is anticipated to increase for a number of reasons, including growing urbanisation, rising energy demand, and growing environmental concerns. In addition, bioethanol is anticipated to become more popular as a transportation fuel around the world due to government assistance in the form of tariffs and policies as well as its smaller carbon footprint as compared to conventional fuels. The clean air act and other laws regulating greenhouse gas reductions, among many others, are anticipated to have a big impact on the industry's expansion.

A Bioethanol for Sustainable Transportation Programme, that consists of six nations, is funded by the European Union and aims to produce bioethanol vehicles. According to the Department of Petroleum and Natural Gas, the government has launched the Yojana to help finance bio-ethanol projects that make use of lignocellulosic biomass and other renewable feedstocks. With a cumulative investment of Rs. 1969.50 crore between 2018 and 2024, this initiative will offer financial support to twelve integrated bioethanol plants that use lignocellulosic biomass and other renewable feedstocks, as well as support to ten 2G technology demonstration projects. The government's actions should increase demand for the bioethanol sector.

Challenges

Growth of Electric Vehicles in the Market if one of the major challenges for bioethanol industry

As the use of electric vehicles increases, the market is anticipated to become more constrained. Recent growth in electric car sales is expected to continue throughout the projected period. The International Energy Agency estimates that in 2020, there were more than ten million electric vehicles on the road worldwide, a 43% increase from 2019. The global market for electric vehicles is expanding. As a consequence, less fossil and bioethanol fuel would be consumed. As a result, it is anticipated that the bioethanol business would soon become extinct as the number of electric vehicles increases.

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Recent developments

• Clariant's first full-scale commercial sunliquid® facility for the generation of cellulosic ethanol (bioethanol) using agricultural leftovers went into operation in January 2022.
• DBS authorised a five-year Rs 1.75 billion (SGD31 million) transition financing credit for Shree Renuka Sugars Ltd (SRSL), a Singapore-based subsidiary of Wilmar International Ltd, in May 2022. The funds will be used to support SRSL's sustainable bioethanol business in India.
• CropEnergies tests novel bioethanol fuel for Stuttgart Airport in October 2021. CropEnergies, Stuttgart Airport, and mineral oil company Mabanaft Deutschland are testing a 20 % renewable ethanol fuel.
  
  

Market Segmentation

By Application

• Transportation
• Alcoholic Beverages
• Cosmetics
• Pharmaceuticals
• Others (chemical, paint & coatings)
  
  

By Feedstock

• Starch based
• Sugar based
• Cellulose-based
  
  

By Fuel Generation

• First generation
• Second generation
• Third generation
  
  

By Blend

• E5
• E10
• E15 to E70
• E75 & E85
• Others (E85 to E100)
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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