LONDON, Oct. 12, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the bioethanol market, the rise in environmental concerns is expected to propel the growth of the bioethanol market going forward. Environmental concerns refer to the worry about the quality of air, water, and soil in the natural environment. The use of bioethanol has had a positive effect on the environment, which diminishes the emission of exhaust gases and will improve the work of transport facilities and energy safety. For instance, according to the International Energy Agency (IEA), a Paris-based autonomous intergovernmental organization, CO2 emissions in India are expected to rise by 50% by 2040. Therefore, the rise in environmental concerns will drive the growth of the bioethanol market.
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The global bioethanol market size is expected to grow from $32.17 billion in 2021 to $36.24 billion in 2022 at a compound annual growth rate (CAGR) of 12.7%. The global bioethanol market share is expected to grow to $52.51 billion in 2026 at a CAGR of 9.7%.
Strategic partnerships and collaborations are the key trends gaining popularity in the bioethanol market. Companies operating in the bioethanol sector are undergoing partnerships and collaborations to strengthen their position in the market. For instance, in October 2021, Archer-Daniels-Midland, a US-based agribusiness, collaborated with Gevo, a US-based bioethanol company. This collaboration would allow ADM to use Gevo's technology to expand 50% of its production capacity and support the production of more than 500 million gallons of sustainable aeronautic energy (SAF) every year. Furthermore, in August 2020, GranBio, a Brazil-based industrial biotechnology company specializing in cellulosic ethanol production, partnered with NextChem, an Italy-based green chemistry and energy transition technology company. This partnership is aimed at the production of second-generation cellulosic ethanol.
Major players in the bioethanol market are Abengoa Bioenergia SA, Archer Daniels Midland, CropEnergies AG, Poet LLC, Green Plains Inc, BlueFire Renewables, Valero Renewable Fuels Company LLC, BP PLC, Royal Dutch Shell plc, Alto Ingredients Inc, Attis Biofuels LLC, Cristalco SAS, Ethanol Technologies Ltd, and GranBio Investimentos SA.
The global bioethanol market analysis is segmented by type into corn-based ethanol, sugarcane-based ethanol, cellulosic ethanol, others; by blend into E10, E20 and E25, E70 and E75, E85, others; by production technology into dry mill, wet mill; by application into automotive and transportation, food and beverage, pharmaceutical, cosmetics and personal care, others.
North America was the largest region in the global bioethanol market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global bioethanol market in the forecast period. The regions covered in the bioethanol market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Bioethanol Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide bioethanol market overviews, analyze and forecast market size and growth for the whole market, bioethanol market segments and geographies, bioethanol market trends, bioethanol market drivers, bioethanol market restraints, bioethanol market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
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