The global ethanolmarket is characterized by the prominent presence ofcompanies such as Solvay Group, Flint Hill Resources, LP, POET, LLC, ValeroEnergy Corporation, The Andersons, Inc., Green Plains, Inc., Pacific Ethanol,Inc., Mitsubishi Chemical Corporation, Cargill, Incorporated, andArcher-Daniels-Midland Company, finds Transparency Market Research (TMR).Players strive to tap on vast lucrative opportunities arising out of theburgeoning demand from several end-use industries, notably automobile andalcoholic beverages. Several manufacturers are focusing on technologyadvancements in production technologies to thrive.
The globalmarket for ethanol stood at US$71.8 bn in 2017 and is anticipated to garner arevenue US$105.0 bn by end of the forecast period of 2017–2022. The globalmarket is projected to rise at a CAGR of 7.9% during the period.
Accordingto the type of feedstock used, the key segments are coarse grain-based,sugarcane-based, and wheat-based ethanol. Of these, coarse grain-based ethanolis projected to emerge as the most attractive segment, rising at a healthy CAGRof 8.0% during 2017–2022. Of note, during the period, the absolute prospectcreated by this segment could supersede all other types of feedstock.
Regionally,North America is anticipated to account for the major revenue share of theglobal market. The regional market is projected to clock a CAGR of 8.1% duringthe assessment period and is expected to touch a valuation of US$48.3 billionby 2022 end. Europe is a prominent regional market for ethanol and is forecastto generate a revenue of US$3.4 billion, in absolute terms, in between 2017 and2025.
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Demand for Cleaner andCost-Effective Fuel in Automobile Sector to Bolster Uptake
The ethanolmarket is driven primarily by the extensive demand for the chemical compound inthe automobile sector. The use of ethanol as a clean-burning fuel and as a fueladditive is instrumental in reducing greenhouse gas emissions and reducingdependence on oil in various economies world over. The staggering rise inautomobiles in a number of industrialized nation is providing a robust thrustto the adoption of ethanol as an eco-friendly fuel in the automobile sector.
The ethanolmarket is as also garnered huge gains from the rising number of gasolinestations in advanced nations, particularly the U.S., providing blended ethanol.The growing number of ethanol biorefineries in developed regions is alsocatalyzing the growth of the market. Ethanol is deemed to be safer andeco-friendly option than most hydrocarbon octane sources, thereby accountingfor its vast popularity in the automobile sector.
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Theemerging popularity of alcoholic beverages is also stoking the demand forethanol. The rising application of ethanol in making premium quality alcoholicbeverages is boosting the market. The miscellaneous use of ethanol in makingexplosives, paints, and perfume is also accentuating the global market.
Prevailing Regulations in SomeNations may hinder Growth
Theprominent use of ethanol in making a variety of personal care products andhousehold cleaning products is also boosting the market. The market alsobenefits from the popular use of ethanol as a key ingredient in sanitizers asit can wipe out microorganisms.
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However,the highly flammable nature of ethanol elevates the cost of its transportation,which negatively impacts the growth of the market. The unfavorable regulatorylandscape in a number of developed nations regulating its end-use applicationsmay also hinder the growth of the market. Nevertheless, the rising popularityof ethanol as biofuels in supporting a low-carbon economy is expected to createlucrative prospects in the years to come. Furthermore, the rise in productionof ethanol in supporting the economic growth of several countries is a keyfactor working in favor of the ethanol market.
The studypresented here is based on a report by Transparency Market Research (TMR)titled “EthanolMarket (Feedstock - Coarse grain-based, Sugarcane-based, and Wheat-based; EndUse - Fuel, Industrial Solvents, Beverages, and Cosmetics) - Global IndustryAnalysis, Size, Share, Growth, Trends and Forecast 2017–2022”
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