NEW YORK, July 29, 2021 /PRNewswire/ -- According to the
market research firm P&S Intelligence, the global bioethanol
market generated around $38 billion
revenue in 2020 and is predicted to exhibit huge expansion during
2021–2030. The rapid depletion of natural resources, because of
their large-scale usage for energy generation, increasing demand
for sustainable fuels, and soaring concerns being raised over the
escalating greenhouse gas emissions are the major factors driving
the growth of the market.
In order to mitigate the spread of the COVID-19 virus, the
governments of several countries imposed lockdowns, which massively
hampered the advancement of the bioethanol market. Moreover, these
lockdowns caused a sharp reduction in the demand for bioethanol, as
people were told to stay inside their homes. This significantly
reduced the demand for automobiles, which, in turn, caused a
massive decline in the worldwide demand for automotive fuel.
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The bioethanol market is categorized into E10, E5, E75 &
E85, and E15 & E70 categories, based on fuel blend. Out of
these, the E10 category dominated the market in 2020, and it is
predicted to register rapid expansion in the forthcoming years.
This is ascribed to the fact that E10 is a highly reliable fuel and
has excellent compatibility with a large number of petrol
(gasoline)-powered automobiles across the world.
Depending on end use, the bioethanol market is classified into
cosmetics, alcoholic beverages, transportation, and
pharmaceuticals. Out of these, the transportation category
dominated the market in 2020, and this trend is predicted to
continue during the forecast period. This will be because of the
increasing use of bioethanol as a transportation fuel in various
countries. Additionally, the mushrooming number of automobiles, on
account of the soaring disposable income of people and booming
population, will also propel the growth of the category in the
future years.
Browse detailed report with COVID-19 impact analysis on
Bioethanol Market Research Report: By Fuel Blend (E5, E10, E15 to
E70, E75 & E85), Feedstock Type (Gas, Liquid, Solid), End User
(Transportation, Alcoholic Beverages, Cosmetics, Pharmaceuticals) -
Global Industry Revenue Forecast to 2030 @
https://www.psmarketresearch.com/market-analysis/bioethanol-market
Globally, North America held
the majority shares in the bioethanol market in 2020, and the
situation will not change throughout the forecast period. This will
be because of the surging production of bioethanol, on account of
its soaring requirement in the region. Furthermore, the
implementation of policies that mandate the use of bioethanol
blends in automobiles is also contributing to the growth of the
market in the region.
The players operating in the bioethanol market are focusing on
geographical expansion in order to gain an edge over their rivals.
For example, Raizen Energia SA bought certain areas at the ports of
Vila do Conde and Miramar in
April 2019 for storing liquids in
bulk for strengthening their bioethanol distribution networks
across Brazil.
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The Archer-Daniels-Midland Company, Tereos, Green Plains Inc.,
POET LLC, Flint Hills Resources LLC, Valero Energy Corporation, and
Raizen SA are some of the major players in the global bioethanol
market.
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About P&S Intelligence
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astuteness.
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P&S Intelligence
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