Dublin, June 29, 2023 (GLOBE NEWSWIRE) -- The "Global Bioethanol Market by Feedstock (Starch based, Sugar based, Cellulose-based), Fuel blend (E5, E10, E15 to E70, E75& E85), End-use (transportation, pharmaceutical, cosmetic, alcoholic beverages), Generation and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The bioethanol market size is estimated to be USD 83.4 billion in 2023, and it is projected to reach USD 114.7 billion by 2028 at a CAGR of 6.6%
Starch-based bioethanol provides numerous advantages as a renewable fuel source, positioning it as a promising alternative to conventional fossil fuels. A significant advantage lies in the abundance of starch feedstocks available for bioethanol production.
Crops rich in starch, such as corn, wheat, and barley, are extensively grown in various regions, ensuring a readily accessible and sustainable source of starch. This abundance guarantees a stable supply and reduces reliance on finite fossil fuel reserves, promoting long-term energy security and sustainability.
By Fuel blend, E10 accounted for the one of the highest CAGR during the forecast period
The introduction and growing popularity of bioethanol E10, a blend consisting of 10% ethanol and 90% gasoline, is driven by various factors that contribute to its widespread adoption. One significant driver is the imperative to reduce greenhouse gas emissions and address climate change concerns.
Bioethanol, derived from renewable biomass sources, significantly reduces the carbon footprint when blended with gasoline, making it a favorable option for achieving environmental sustainability and meeting emission reduction targets. Government policies and incentives have played a vital role in driving the adoption of bioethanol E10.
Many countries have implemented renewable fuel standards and mandates that require a certain percentage of biofuels, including bioethanol, to be blended into transportation fuels. These policies create a stable market and regulatory framework, providing certainty for bioethanol producers and fuel distributors and encouraging investment in bioethanol infrastructure.
By End-Use Industry, the Transportation segment accounted for the largest market during the forecast period
Bioethanol has gained significant traction in the transportation industry as a viable and sustainable alternative to conventional fossil fuels. Its utilization in the transportation sector offers several advantages and benefits. The production of bioethanol also has positive socio-economic impacts.
It promotes rural development by creating new opportunities for farmers and agricultural communities. The cultivation of feedstock crops for bioethanol production stimulates local economies, generates employment, and reduces the reliance on imported fossil fuels.
In terms of infrastructure, the distribution and storage of bioethanol can be integrated into existing petroleum infrastructure with minimal modifications. This makes it easier to establish a bioethanol distribution network and provide accessibility to consumers.
By feedstock, starch-based accounted for the largest share in 2022
Starch-based bioethanol is propelled by various factors, including energy security and climate change mitigation. Serving as a renewable and domestically produced substitute for fossil fuels, starch-based bioethanol diminishes reliance on imported oil, bolstering energy security and fostering self-sufficiency.
Furthermore, bioethanol derived from starch feedstocks exhibits substantial potential for mitigating greenhouse gas (GHG) emissions, as it aids in reducing carbon dioxide emissions in comparison to fossil fuels.
The utilization of starch-rich feedstocks like corn, wheat, or potatoes in the production and utilization of starch-based bioethanol plays a pivotal role in transitioning toward a more sustainable and environmentally friendly energy system.
Asia Pacific is projected to register the highest CAGR in the bioethanol market during the forecast period
Asia Pacific is poised for significant growth in the bioethanol industry due to several key factors. One of the primary drivers is the region's abundant agricultural resources.
Asia Pacific countries, such as China, India, Thailand, Indonesia, and Malaysia, have substantial agricultural sectors and cultivate crops like sugarcane, corn, and cassava, which serve as excellent feedstocks for bioethanol production. The availability of these feedstocks ensures a steady supply of raw materials for bioethanol production, supporting the growth of the industry.
Additionally, the rising energy demand and increasing concerns about environmental sustainability in Asia Pacific have prompted governments and policymakers to explore renewable energy sources. Bioethanol, as a renewable fuel derived from biomass, aligns with the region's sustainability goals and offers a viable solution for reducing greenhouse gas emissions and air pollution.
Governments in Asia Pacific have introduced supportive policies, such as renewable fuel mandates and incentives, to promote the use of bioethanol in the transportation sector. These policy measures create a favorable business environment and stimulate investments in bioethanol production facilities.
Competitive landscape
Companies Covered: POET LLC (US), Archer Daniels Midland Company (US), Green Plains (US) and Valero Energy (US), Pacific Ethanol (US) The Anderson Inc. (US), Flint Hills Resources (US), and Tereos (France) and others.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 212 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $83.4 Billion |
| Forecasted Market Value (USD) by 2028 | $114.7 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
Premium Insights
- Emerging Countries to Offer Attractive Opportunities in Bioethanol Market
- North America: Us and E10 Blend Accounted for Largest Shares of Bioethanol Market in 2022
- E10 Segment to Lead Bioethanol Market During Forecast Period
- Transportation End-Use Industry to be Fastest-Growing Segment During Forecast Period
- Chinese Bioethanol Market to Record Highest CAGR from 2023 to 2028
Market Dynamics
Drivers
- Need for Energy Security
- Adoption of Higher Blending Standards Leads to Higher Consumption of Bioethanol
Restraints
- Rising Demand for EVs and Phase-Out of Fossil Fuel Vehicles
- Engine Modification Required for Higher Blends of Bioethanol
Opportunities
- Rising Demand from Pharmaceutical Industry
- Policy Changes Regarding Use of Bioethanol Blends
Challenges
- Adverse Environmental Impact of Bioethanol Production
Value Chain Analysis
- Raw Material Procurement
- Bioethanol Production Plants
- Distribution Channels
- Application Segments
- Key Markets for Export/Import
Technological Analysis
- Technology for Starch-Based Feedstock (Corn)
- Dry Mill Method
- Wet Mill Method
- Bioethanol from Sugarcane
- Sugar Vs. Starch
Case Study Analysis
- Implementation of Ethanol Blending Program
Company Profiles
Key Players
- Archer Daniels Midland Company
- Poet LLC
- Green Plains, Inc.
- Valero Energy Corporation
- Tereos
- Raizen
- The Andersons, Inc.
- Alto Ingredients, Inc.
- Sekab Biofuels & Chemicals Ab
- Aemetis, Inc.
Other Players
- Pannonia Bio Zrt
- Bp P.L.C.
- Absolute Energy L.L.C.
- Big River Resources LLC
- United Petroleum Pty Ltd.
- Cropenergies Bioethanol GmbH
- White Energy, Inc.
- Guardian Energy, LLC
- Blue Biofuels, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/18r8xb
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