Cellulosic Ethanol Market Size To Grow USD 4083.3 Million By 2028 With a CAGR of 24.8% | Valuates Reports
BANGALORE, India, Feb. 9, 2023 /PRNewswire/ -- The Global Cellulosic Ethanol Market is Segmented by Type (Sugarcane Straw and Bagasse, Corn Stover), by Application (Gasoline, Detergent): Opportunity Analysis and Industry Forecast, 2023–2028.
Due to the COVID-19 pandemic, the global Cellulosic Ethanol market size is estimated to be worth USD 1080.8 Million in 2022 and is forecast to a readjusted size of USD 4083.3 Million by 2028 with a CAGR of 24.8% during the review period.
Major Factors Driving the Growth of the Cellulosic Ethanol Market:
In an automobile, cellulosic ethanol has the potential to replace both fuel and ethanol made from grains. The cellulosic ethanol market is expanding, and this creates jobs and helps rural economies prosper. Only a small number of wealthy nations and a few of the world's largest economies, including Brazil, India, and China, have conducted research and development on cellulosic ethanol yet.
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TRENDS INFLUENCING THE GROWTH OF THE CELLULOSIC ETHANOL MARKET
Cellulosic ethanol production has increased significantly in recent years, but it is still not being done on a large scale for commercial purposes. Although new and inventive, second-generation biofuels have their own sustainability problems. However, since production facilities are situated in rural areas where feedstocks are abundant, the development of cellulosic biofuel has improved rural economies. Due to several national pledges and the abundance of natural resources, the cellulosic ethanol market is predicted to increase significantly in the upcoming years.
The production of ethanol, a renewable and emissions-free motor fuel, is gaining more attention as the government works to explore alternative energy sources. Fuel ethanol is widely used, so the process used to make it needs to be inexpensive and environmentally responsible. The development of bioindustries with the potential to lower greenhouse gas emissions is made possible by the widely accessible and affordable lignocellulosic materials.
Cellulosic ethanol is made from agricultural plant waste such as corn stover and straw, lignocellulosic raw materials such as wood chips, energy crops such as switchgrass and miscanthus, and a number of additional by-products of tree care and lawn care. As a result, cellulosic ethanol is more affordable than other types of bioethanol. The use of locally accessible feedstock reduces reliance on fossil fuels, and as a result, the manufacture of cellulosic ethanol helps to promote economic growth. A reduction in the import of fossil fuels will help to reduce both the budget deficit and the trade deficit. This in turn is expected to drive the growth of the Cellulosic Ethanol market.
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CELLULOSIC ETHANOL MARKET SHARE ANALYSIS:
DowDuPont, Abengoa, POET-DSM, GranBio, Beta Renewables, Logen & Raizen, Ineos Bio, Fiberight, Longlive, etc. are some of the major participants. GranBio held a market share of roughly 50%.
With a market share of almost 100% in 2021, North America has the largest market for cellulosic ethanol.
The market for detergents is anticipated to expand. The need for laundry and household cleaning products has increased in the contemporary environment due to a better awareness of personal hygiene and clean surroundings, which has boosted the growth of the detergent industry.
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Key Companies:
- DuPont
- Abengoa
- POET-DSM
- GranBio
- Beta Renewables
- Logen & Raizen
- Ineos Bio
- Fiberight
- Longlive
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SIMILAR REPORTS:
- The ethanol market was valued at USD 62.56 Billion in 2021 and the CAGR is 3.54% during the forecast period (22-28).
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