The global ethanol market size was valued at USD 87.71 billion in 2022 and is projected to grow from USD 92.48 billion in 2023 to USD 135.07 billion by 2030, exhibiting a CAGR of 5.6% during the forecast period.
The Ethanol Market will derive growth from the increasing emphasis on the use of environment-friendly products. According to a report by Fortune Business Insights, titled “Ethanol Market Size, Share & Industry Analysis, By Type (Synthetic Ethanol, Bioethanol), By Raw Material (1st Generation Feedstock (kernels and starchy crops biomass), 2nd Generation Feedstock (Lignocellulosic biomass), 3rd Generation Feedstock (Algal biomass),4th Generation Feedstock (Industrial waste CO2), Petroleum derived chemicals), By Application (Transportation, Energy, Chemical, Others) and Regional Forecast, 2023-2030,” the market will benefit from recent advances in manufacturing of the product.
Ethanol is used as a solvent for manufacturing numerous material, including varnishes and perfumes. The ease of availability of the material has allowed applications across diverse industries. Ethanol can be produced through a variety of methods, and is identified as an environment-friendly fuel. The product possesses a huge potential due to its ‘sustainable’ nature. The global concerns surrounding global warming and increasing environment pollution will contribute to the growing demand for ethanol across the world. Ethanol is mainly derived from crops such as sugar, wheat, and corn. The increasing demand for ethanol, accounting to the exceptional properties of the product, will have a direct impact on the growth of the market in the coming years.
Market Analysis and Insights: Global Ethanol Market
The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment markets by type, application and region, and, as a result, provides a holistic view of, as well as a deep insight into the Ethanol market covering all its essential aspects.
For the competitive landscape, the report also introduces players in the ethanol industry from the perspective of the market share, concentration ratio, etc., and describes the leading companies in detail, with which the readers can get a better idea of their competitors and acquire an in-depth understanding of the competitive situation. Further, mergers & acquisitions, emerging market trends, the impact of COVID-19, and regional conflicts will all be considered.
Growth Drivers:
Increasing Efforts Taken for Production and Maximization of Ethanol Will provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. The increasing efforts taken to maximize the use of ethanol across diverse industrial applications will open up a huge potential for market growth. In February 2019, Albioma announced the industrial commissioning of the first peak-load combustion turbine. The company stated that its system will primarily operate on 80% bioethanol and 20% diesel. This system will cater to the growing need for sustainable fuel alternative. This system will not only have a positive impact on the growth of the regional market, but will have a positive impact on the growth of the global market.
Browse Summary:
https://www.fortunebusinessinsights.com/industry-reports/ethanol-market-101567