Hyderabad, July 25, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Bioethanol Market Report (2023-2028)," the market is estimated at 106.78 billion liters in 2023. It is expected to register a CAGR of 5.15% during the forecast period.
Bioethanol is a biodegradable, green fuel. Its production has increased in recent years due to higher renewable fuel standard targets and growth in motor gasoline consumption, with most gasoline now blended with 10% ethanol by volume. Increasing government initiatives, restrictions on marketing gasoline with higher ethanol content in some countries, favorable blending mandates, and environmental concerns about fossil fuels are driving the market. The aviation industry is also witnessing increased bioethanol consumption, presenting more opportunities for the market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | 106.78 billion liters |
| Market Size (2028) | 137.26 billion liters |
| CAGR (2023-2028) | 5.15% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Favorable blending mandates. |
| Environmental concerns and need for biofuels. |
Who are the Top Companies in the Global Bioethanol Market?
The market is moderately fragmented. The significant players in the global bioethanol market with the majority market share in 2023 are,
- Abengoa
- ADM
- Alto Ingredients Inc.
- Blue Bio Fuels Inc.
- Cenovus Inc.
- Cristalco
- Cropenergies AG
- Ethanol Technologies
- Granbio Investimentos SA
- Green Plains Inc
- Henan Tianguan Group Co. Ltd
- Jilin Fuel Ethanol Co. Ltd
- KWST
- Lantmannen
- Poet LLC
- Raizen
- Sekab
- Suncor Energy Inc.
- Tereos
- Valero
- Verbio Vereinigte Bioenergie AG
Other Reports That Might Be of Your Interest:
- Asia-Pacific Bio-ethanol Market Report - The Asia-Pacific bio-ethanol market is anticipated to register a CAGR greater than 5% over the next five years.
- North America Bio-ethanol Market Report - The North American bio-ethanol market is expected to register a CAGR of over 5% over the next five years.
Key Highlights from the Global Bioethanol Market Report:
High Demand from the Automotive and Transportation Sector
- Bioethanol is extensively used as a fuel and fuel additive in the automotive and transportation industries. It is blended with conventional petrol to fuel petrol engines in road vehicles, and it can also produce ETBE, an octane booster used in petrol. Blending bioethanol with conventional fuels improves renewability and helps decarbonize the transport industry.
- Global automotive production increased in 2022, with Asia-Oceania and Americas regions showing significant growth.
- The United States Department of Energy is funding research projects for producing low-cost biofuels to replace fossil fuels in heavy-duty transportation. Tax incentives and funding in the United States have boosted the usage of bioethanol as an octane enhancer and gas extender in the automotive sector.
North America Dominating the Market
- The North American region, particularly the United States, dominates the bioethanol market. The United States is the largest producer and consumer of bioethanol in the world.
- The region has a significant number of automobiles that can operate on ethanol blends, with around 93% of registered automobiles in the United States able to run on E15 and approximately 22 million flex-fuel vehicles capable of running on ethanol blends up to E85.
- Canada has also implemented the Clean Fuel Standard, requiring liquid fuel suppliers to reduce the carbon intensity of fuels, resulting in a rise in the demand for low-carbon fuels like bioethanol and hydrogen.
What are the Latest Developments in the Global Bioethanol Market?
- In January 2023, United Airlines, Tallgrass, and Green Plains Inc. announced a joint venture with Blue Blade Energy to develop and commercialize a novel sustainable aviation fuel (SAF) technology that uses ethanol feedstock.
- In May 2022, Blue Biofuels Inc. announced that its fifth generation of the Cellulose-to-Sugar ("CTS") machine is on schedule and that testing and further engineering toward larger volumes have started.
Mordor Intelligence has Segmented the Global Bioethanol Market Based on Feedstock Type, Application, and Geography.
- By Feedstock Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Sugarcane
- Corn
- Wheat
- Other Feedstock Types
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Automotive and Transportation
- Food and Beverage
- Pharmaceutical
- Cosmetics and Personal Care
- Other Applications
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Bioethanol Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Ethanolamines Market Report - Over the next five years, the global ethanolamines market is expected to grow at a CAGR of more than 4%.
- Asia-Pacific Direct Methanol Fuel Cell Market Report - The Asia-Pacific direct methanol fuel cell market is anticipated to register a CAGR of over 14% over the next five years.
- Bio-butanol Market Report - The bio-butanol market is projected to register a CAGR of over 8% over the next five years.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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