Seattle, WA -- (SBWIRE) -- 09/26/2019 -- Bioethanol is considered as eco-friendly and renewable fuel produced by fermentation of sugar. Energy crops are a rich source of sugar and are widely used for the production of bioethanol. Bioethanol can be synthesized by using various chemical processes such as fermentation, rectification, distillation, and dehydration. The market of bioethanol is gaining traction in the market as emission produced by bioethanol is less volatile as compared to those produced by combustion of gasoline, hence it is increasing the demand for production of bioethanol. Furthermore, rising demand for eco-friendly vehicles and renewable form of bioethanol is further projected to propel the market growth. On the contrary, a large amount of carbon dioxide is released during the production of bioethanol, which has a negative impact on the environment coupled with the high cost associated with the manufacturing of bioethanol and maintenance of unit is likely to restrain the market growth over the forecast period.
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Global Bioethanol Market Taxonomy
By Application:
Feedstock
Fuel
Food
By Source:
Maize
Corn
Wheat crops
Waste straw
Reed canary grass
Cord grasses
Jerusalem artichoke
Potatoes
Others
By Blend:
E10
E20 & E25
E70 & E75
E85
Other
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By End-user:
Automobile
Energy
Petrochemical
Fuel
Medical
Others
Bioethanol is predominantly used as a fuel for transport, feedstock in the chemical sector, power generation, and manufacturing processes, owing to its low-emission and easy availability. Currently, bioethanol is mixed with gasoline in different concentration to be used as a fuel. The fuel that is produced directly from food crops is characterized as a first-generation fuel. Fuels that are produced from waste products and lignocellulose are classified as a second-generation fuel, whereas fuels that are manufactured from feedstock such as microalgae are third-generation fuel. Fourth-generation fuels can be categorized under those fuels, which are manufactured from microorganism and algae and have the ability to absorb and convert the CO2 to bioethanol.
Market Outlook
North America holds dominant position in the global bioethanol markets, owing to favorable government and environmental regulations, particularly in the U.S.
Moreover, technological developments and swiftly emerging automotive industry is expected to fuel growth of the market over the forecast period.
Latin America is expected to gain significant traction in the global bioethanol market, owing to high soil productivity in Brazil and Columbia. High production of sugarcane in Brazil is expected to increase the production of biofuel in this region.
In Europe, EU aims to achieve 10% transport fuel derived from renewable sources such as bioethanol for every member country. Blending obligations of bioethanol with fossil fuels and growing demand for energy from European economies such as France, Germany, Sweden, Netherlands, Belgium and Spain are expected to increase adoption of bioethanol in Europe.
Bioethanol market in Asia Pacific region is expected to grow at steady rate, owing to presence of large population and availability of fertile land in economies such as India, Thailand, and China. Moreover, India being an agricultural country is in is turn projected to contribute significantly towards growth of the global bioethanol market.
Bioethanol is characterized as better alternative fossil fuel as it has high octane value and lower greenhouse gas emissions. Increasing demand for biofuels and need to reduce the greenhouse gas effects is expected to drive the market growth. For bioethanol to substitute petrol, the production process has to be more cost-effective along with an increase in yields and diversity of crops used.
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Major players operating in the global bioethanol market include CropEnergies, British Sugar, New Generation Biofuels Holdings, Inc., Vivergo Fuels Limited, Butalco GmbH, and Global Green SA.
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