Westford, USA, Nov. 14, 2022 (GLOBE NEWSWIRE) -- The use of ethanol as a fuel has been growing in popularity in recent years. The demand for ethanol market has been driven by a desire to find a cleaner, renewable source of energy. Ethanol is made from plant materials, so it is renewable and emits fewer greenhouse gases than fossil fuels. The use of flex-fuel vehicles has also increased the demand for ethanol. Flex-fuel vehicles can run on either gasoline or ethanol, giving drivers the choice of which fuel to use.
The most important factor in the demand for ethanol market is the increasing popularity of biofuels. As people become more aware of the environmental benefits of using biofuels, they are more likely to choose them over traditional fossil fuels. Ethanol is one of the most popular biofuels on the market today, and its use is expected to continue to grow in the coming years.
Another factor that has contributed to the growing demand for ethanol is the need for cleaner-burning fuels. Ethanol produces fewer emissions than gasoline, making it a more attractive choice for those who are concerned about air pollution. Additionally, many countries have begun to mandate that fuel suppliers include a certain amount of renewable energy in their products. This has led to an increased demand for ethanol as a blending agent in gasoline.
Finally, government incentives have also played a role in boosting the demand for ethanol market. In some countries, taxes on gasoline are higher than taxes on ethanol, making it cheaper to use ethanol-blended fuel. In addition, many governments offer subsidies or tax breaks to encourage the use of biofuels like ethanol. These policies have helped make ethanol an increasingly attractive option for motorists around the world.
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US and Brazil Produces over 80% of the Global Ethanol
The ethanol market has been growing in recent years as a result of increasing demand for renewable fuels. Ethanol is a biofuel made from corn and other plant materials, and it can be used as a gasoline additive or blended with gasoline to create a cleaner-burning fuel. The number of ethanol plants in the United States has more than doubled since 2004, and the majority of these plants are located in the Midwest. The increased production of ethanol has led to higher corn prices, which have been a boon for farmers but a challenge for livestock producers and consumers.
The ethanol market has grown significantly since the early 2000s, with the global production reached over 29 billion gallons of ethanol in 2019. Out of which, the US produced around 15.78 billion gallons of ethanol. The vast majority of this ethanol is produced in the United States, with Iowa, Nebraska, Illinois, South Dakota, and Minnesota accounting for most of the production. Brazil is the second largest producer of ethanol, followed by China.
The majority of the world’s ethanol production takes place in Brazil and the United States, with the US producing almost twice as much ethanol as the Brazil. In 2021, these two countries accounted for over 80% of the world’s ethanol production. The increased production of ethanol in recent years can be attributed to government policies and targets aimed at reducing greenhouse gas emissions and promoting the use of renewable resources.
The US Ethanol Industry is supported by a strong and diverse group of more than 350 companies across 50 states involved in every aspect of producing and marketing this important American-made product. The global ethanol market has an economic impact of more than $97.38 billion annually and supports nearly 3.5 million jobs across the globe – many in rural communities.
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Challenge: Impact of Greenhouse Gas Emission on Ethanol Market
Despite the rapid growth, the market faces many challenges. One challenge is reducing the greenhouse gas emissions associated with ethanol production. Some life cycle analyses show that corn-based ethanol can actually result in more greenhouse gas emissions than gasoline when all factors are considered.
Current biofuel production is already responsible for around 3.5% of global greenhouse gas emissions, and this is expected to rise to between 5.5% and 8.5% by 2100 if current trends continue. This increase in emissions would offset any benefits that biofuels may have in terms of reducing fossil fuel use and carbon dioxide emissions. The study highlights the need for more sustainable methods of biofuel production if the ethanol market is to grow without exacerbating climate change. Alternatively, it may be necessary to find other ways to reduce greenhouse gas emissions from transport.
Another challenge is finding a way to use biomass other than corn for ethanol production. This is important because using corn for biofuels takes away from food production and drives up food prices. Researchers are working on developing processes for using cellulosic biomass, such as wood chips and agricultural residue, for biofuel production. If successful, this could help make the biofuel industry more sustainable in the long term.
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India Set to blend 20% Ethanol in Fossil Fuel by 2025–2026
In a bid to reduce its dependence on imported oil and cut down on emissions, India is set to blend 20% ethanol in fossil fuel by 2025-2026 in the global ethanol market. The move will help the country save $600 million in foreign exchange annually and cut down on carbon dioxide emissions by 35 million tons. Currently, the country meets its over 80% of the fuel demand through import and is planning to cut down the overall import volume significantly in the years to come by supporting flex-fuel vehicles policies and boosting electric vehicle charging infrastructure development.
Ethanol is a renewable and clean-burning fuel made from plant materials such as sugarcane or corn. It can be used as a blending agent with petrol or diesel, and has been shown to reduce emissions of harmful pollutants such as particulate matter and carbon monoxide.
The Indian government has already mandated the use of 5% ethanol blends in petrol nationwide. Earlier, it was pegged to be achieved by 2030. With the new target of 20% blends by 2025-2026, India is further cementing its position as a leader in the use of alternative fuels in the ethanol market. The benefits of using ethanol blends are not just environmental – they also provide a boost to the rural economy, as most ethanol production takes place in rural areas. In India, around 90% of ethanol production comes from sugarcane, with the remainder coming from other crops such as corn and sorghum. With the new target in place, India is well on its way to reducing its reliance on fossil fuels, saving money, and protecting the environment.
Top Players in Global Ethanol Market
- Cargill Inc. (US)
- Archer Daniels Midland Company (US)
- MGP Ingredients (US)
- Ace Ethanol LLC (US)
- Advanced Bio Energy LLC (US)
- Grain Processing Corporation (US)
- Flint Hills Resources (US)
- Marquis Energy (US)
- Aventine Renewable Energy (US)
- HPCL Biofuels Limited (India)
- Butamax Advanced Biofuels LLC (US)
- British Petroleum (UK)
- Pure Energy Inc. (US)
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