The global bioethanol market size is expected to reach USD 101.64 billion by 2030, according to a new study by Polaris Market Research. The report “Bioethanol Market Share, Size, Trends, Industry Analysis Report, By Feedstock (Cereals & Starch, Wheat, Maize, Beet, Sugarcane, Others); By End-Use Industry; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The transportation end-use segment accounted for the largest market share in 2021. This growth is attributed to the growing scale of commercial and passenger conveyance and its influence on the atmosphere's transportation sector. Bioethanol fuel blends are cheaper and emit no carbon dioxide, which has increased its demand in the transportation sector, thus driving its market towards growth.
The North American region is dominating the global bio-ethanol industry share in terms of value. The U.S. is the largest producer and consumer of bioethanol, which drives its industry growth in the region. Canada is also increasingly moving toward the adoption of bioethanol. The introduction of renewable fuel standard targets and increase in gasoline consumption boosts the industry growth in this region.
Some key industry players in the industry are Archer Daniels Midland, Abengoa Bioenergy, BlueFire Ethanol Fuels Inc., Cremer Oleo GmbH & Co., Soufflet Group, Bioethanol Japan Kansai Co Ltd, CropEnergies AG, Green Plains, Nordzucker AG, Green Future Innovations Inc., Petrobras Biocombustíveis, Royal Dutch Shell PLC, Raizen Energia, Tereos, and Valero Energy Corporation. industry players collaborate for research and development, strengthening industry presence, and technological innovation. The greater need to cater to growing customer requirements has encouraged industry participants to leverage new technologies to develop high-quality products.
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Low cost of production, cheap raw materials, economic pre-treatment technologies, high ethanol fermentation rates, downstream recovery of ethanol, and maximum usage of by-products are the major growth drivers for the industry. Government regulation, investments, and technological advancements in production also drive the industry's growth. Countries are also focussing on energy security, creating opportunities for the industry.
Bioethanol Market Report Highlights
Polaris market research has segmented the bioethanol market report based on feedstock, end-use, and region:
Bioethanol, Feedstock Outlook (Revenue - USD Billion, 2018 - 2030)
Bioethanol, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Bioethanol, Regional Outlook (Revenue - USD Billion, 2018 - 2030)