The latest market report published by Credence Research, Inc. is “Global Bioethanol Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Bioethanol Market generated around USD 34.1 billion in 2021 and is anticipated to grow a CAGR of over 13.6% during the forecast period from 2022 to 2028 to reach around USD 73.28 billion in 2028.
Bioethanol is a flammable, colorless liquid produced by sugar fermentation of biomass or feedstock wastes and subsequent distillation. Bioethanol does not emit harmful greenhouse gases when burned, resulting in the least amount of environmental damage. Bioethanol is a renewable resource that has been adopted as a long-term solution to depleting fossil fuel reserves. It is being developed as a gasoline substitute or additive for direct vehicle use. Petrol engines can run on various concentrations of bioethanol mixed with gasoline. The mandatory use of bioethanol fuel blends in many countries to reduce greenhouse gas (GHG) emissions and increase vehicle fuel efficiency is driving up demand for bioethanol. Technological advancements and increased R&D budgets to obtain ethanol from algae are also expected to propel market demand owing to its faster rate of production and natural occurrence in water bodies, which is likely to lower production costs.
Browse Global Bioethanol Market report-https://www.credenceresearch.com/report/bioethanol-market
The global bioethanol market is bifurcated into Fuel Blend, Feedstock, End-Use Industry, and Geography. Based on fuel blend, the market is categorized into E5, E10, E15 to E70, E75 & E85, and others (E85 to E100). Based on feedstock, the global market is segmented into starch-based, sugar-based, and cellulose-based. Based on the end-use industry, the global market is divided into transportation, alcoholic beverages, cosmetics, pharmaceuticals, and others (chemical, paint & coatings). The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2021, North America dominated the global bioethanol market, owing to increased approvals and government support for developing sustainable and eco-friendly fuels. The region’s extensive maize cultivation creates encouraging and fertile business operations. Moreover, regional countries like the United States and Canada have made higher bioethanol blends mandatory in vehicles. As a result, North America is expected to be the market leader in the Bioethanol Market during the forecast period.
Why to Buy This Report –
- The report examines the global bioethanol market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
- The report includes information on the competitive landscape, such as how the market’s key players operate at the global, regional, and country levels.
- In-depth analysis of the global bioethanol market segmentation by fuel blend, feedstock, and end-use industry.
- The report contains comprehensive and authentic data for all factors, including CAGR, supply and demand, import-export statistics, consumer purchasing trends, and others.
- The global bioethanol market report includes global, regional, and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
The Global Bioethanol Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|Segmentation|| By Fuel Blend (2016–2028; US$ Mn)|
By Feedstock (2016–2028; US$ Mn)
By End-Use Industry (2016–2028; US$Mn)
By Geography Segment (2016–2028; US$Mn)