Global Bioethanol Market 2020-2024 | Rising Demand for Continuous Supply of Clean Fuel to Boost Market Growth | Technavio
The bioethanol market is expected to grow by USD 20.55 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Bioethanol Market 2020-2024 (Graphic: Business Wire)
Globally, the uncertainty in global energy security, fuel prices, and the continued rise in emission levels are factors driving the demand for alternative fuels. The demand for clean fuels is increasing, especially in commercial industries, as they help reduce carbon emission levels. Biofuels, such as bioethanol, are derived from renewable sources such as energy crops, cellulosic plants, and carbohydrate-containing organic products. Bioethanol blends are used in regular vehicles with little or no modification required to the engines, which enables the use of blended fuels in vehicles. They emit lesser GHGs in comparison to conventional fuels, depending on the blend. The use of bioethanol also helps reduce the amount of sulfur and hydrocarbon emissions in the air. Thus, the rising demand for clean fuel will drive the growth of the market during the forecast period.
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As per Technavio, the rising investments in the bioethanol sector will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Bioethanol Market : Rising Investments in the Bioethanol Sector
The volatility in the price of crude oil and the diversification of feedstocks to develop the next generation of biofuels- have led governments and private organizations worldwide to increase their investments in the global bioethanol market. The government supports industries through special loans and grants to produce biofuels. In June 2019, Indian Oil Corp. invested USD 98 million in setting up a 2G bioethanol plant at Panipat refinery in India. The proposed plant will utilize non-food biomass, such as rice straw and lignocellulosic feedstock, and will produce 10-15 billion liters of second-generation bioethanol annually. Thus, the rising investments in the bioethanol sector are expected to drive the growth of the market.
“Factors such as the advances in enzyme technologies, and the increasing preference for biofuels over conventional fuels will have a positive impact on the growth of the bioethanol market value during the forecast period,” says a senior analyst at Technavio.
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Bioethanol Market: Segmentation Analysis
This market research report segments the bioethanol market by type (starch, sugar, cellulose and others), and geography (North America, APAC, Europe, South America and MEA).
The North American region led the bioethanol market in 2019, followed by APAC, Europe, South America and MEA. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as the support extended by countries in the region and the availability of land to produce feedstock.
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Some of the key topics covered in the report include:
Type
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Starch
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Sugar
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Cellulose
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Others
Geographic Segmentation
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North America
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APAC
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Europe
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South America
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MEA
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Vendors covered
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Vendor classification
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Market positioning of vendors
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Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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