Bioethanol Market High Hopes for Market Size Growth and Future Revenues
Bioethanol Market Trends
Bioethanol is a renewable fuel produced from biological sources, offering advantages over conventional fuels due to its clean and renewable nature.
WILMINGTON, DELAWARE, UNITED STATES, April 17, 2024 /EINPresswire.com/ -- According to a report published by Allied Market Research, the global bioethanol market was valued at $5,652 million in 2015 and is projected to reach $9,544 million by 2022, with a CAGR of 7.6% during the forecast period. The transportation segment held the largest market share, accounting for four-fifths of the total market.
Bioethanol is a renewable fuel produced from biological sources, offering advantages over conventional fuels due to its clean and renewable nature. It is increasingly being adopted as an automotive fuel in the transportation sector, driven by biofuel mandates and regulations such as the European Union Renewable Energy Directive and the Renewable Fuel Standard by the EPA.
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The market growth is primarily driven by the demand from the transportation industry, supported by regulatory mandates, concerns about pollution and greenhouse gas emissions, and the availability of abundant raw materials. However, challenges related to food scarcity and the use of food crops for bioethanol production are expected to hinder market growth. Additionally, the high initial production cost of cellulosic ethanol is a negative factor. However, the introduction of second- and third-generation biofuels presents lucrative opportunities for market growth.
In terms of market share, the transportation segment was dominant in 2015, while the power generation segment is expected to grow at the highest CAGR during the forecast period. Key findings of the study include the expected high growth rate of the industrial beets segment, North America generating the highest revenue, and Brazil leading the LAMEA bioethanol market.
The transportation segment's dominance is attributed to the high demand and adoption of bioethanol as an automotive fuel, contributing to reduced vehicle emissions. Cellulosic ethanol is considered a suitable substitute for petroleum, while bioethanol is used in vehicles alongside other fuels like gasoline.
The Asia-Pacific region is expected to experience the highest growth rate, driven by efforts to increase bioethanol production capacity in countries such as China, Thailand, and India.
Key players in the bioethanol market include E. I. du Pont de Nemours and Company, POET LLC, Valero Renewable Fuels Company LLC, BP plc, CropEnergies AG, Archer Daniels Midland Company, Abengoa Bioenergy, BlueFire Ethanol Fuels Inc., Petrobras, and Royal Dutch Shell plc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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