Bioethanol Market Worth $64.8 Billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 28, 2020 /PRNewswire/ -- According to the new market research report "Bioethanol Market by Feedstock (Starch based, sugar based, cellulose based), End-use Industry (transportation, pharmaceuticals, cosmetics, alcoholic beverages), Fuel blend (E5, E10, E15 to E70, E75 & E85), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Bioethanol Market size is projected to grow from USD 33.7 billion in 2020 to USD 64.8 billion by 2025, at a CAGR of 14.0%, from 2020 to 2025.
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The global bioethanol market size is projected to grow from USD 33.7 billion in 2020 to USD 64.8 billion by 2025, at a CAGR of 14.0%, from 2020 to 2025. The market is projected to grow as many countries have changed their policies regarding the fuel used in transportation and have mandated the use of bioethanol in the fuel blends. The mandates are passed to curb carbon emission occurring from pure fuel and reduce crude oil dependency of the countries.
E10 fuel blend led the bioethanol market in 2019 in terms of value and volume.
E10 fuel blend accounted for the largest market share among the bioethanol fuel blends as the use of 10% ethanol fuel blends are expected to be made mandatory across many countries in the near future. The E10 fuel blend is a mixture of 10% bioethanol and 90% gasoline. The use of E10 fuel blends helps in improving the fuel efficiency of the vehicle and lowers the carbon emission in the atmosphere.
The transportation end-use industry led the bioethanol market in 2019 in terms of value and volume.
The transportation end-use industry led the bioethanol market in 2019, in terms of value and volume. Bioethanol is considered as an alternative fuel for the vehicles. It is mixed with crude oil in certain percentages to make the fuel burn more efficiently, and reduce GHGs, such as carbon monoxide and carbon dioxide. The use of bioethanol as an alternative fuel also reduces the oil import burden for some countries. Thus, countries are mandating regulations and laws to use bioethanol in transportation vehicles.
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APAC projected to be the fastest-growing bioethanol market during the forecast period.
APAC is projected to lead the bioethanol market, in terms of both value and volume from 2020 to 2025. The region is one of the largest crude oil importers in the world. Many countries in the region aim to achieve energy security by reducing their dependency on crude oil imports. Thus, they have mandated the use of bioethanol fuel blends in all vehicles. This, in turn, increases the demand for bioethanol in the APAC region.
Archer Daniels Midland (US), POET LLC (US), Green Plains (US), Valero Energy Corporation (US), Tereos (France), and Raizen (Brazil) are the key players operating in the bioethanol market. Expansions, mergers & acquisitions, and partnerships/agreements are some of the major strategies adopted by these key players to enhance their positions in the bioethanol market.
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