The ethanol market is anticipated to grow at a CAGR of 4.6% from 2023 to 2033, from US$ 114.02 billion in 2023, to reach US$ 178.78 billion by 2033. Previously, the ethanol sector saw a CAGR of 3.9% from 2018 to 2022.
Demand is increased by the substance’s growing use as a biofuel. The surge in alcohol use is a crucial factor in the market expansion for ethanol.
Ethanol production can be achieved using both petrochemical and natural feedstocks. Shale gas production has notably contributed to a significant upswing in ethylene manufacturing. As oil production declines and new ethylene production facilities come online, the ethanol market becomes oversupplied with ethylene, which causes ethanol production to stagnate.
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Important Variables Responsible for the Market Growth Include:
- Ethanol’s rising popularity as a biofuel
- The surging use of ethanol in alcoholic beverages
- Alcohol-based hand sanitizers on the rise
- Revamped government initiatives for environmental pollution mitigation
- Ethanol as an industrial solvent gains traction
Ethanol’s Soaring Opportunities: A Look at Emerging Applications and Market Expansion
The main ethanol manufacturers are expected to benefit from emerging ethanol applications by creating new business opportunities. To lower total costs and cut carbon emissions, the aviation sector is concentrating on researching and developing ethanol-blend fuels.
In the future, better opportunities are anticipated due to recent ethanol uses in ignition systems and emission control in the transportation industry.
The rise in the use of ethanol-based hand sanitizers due to the coronavirus outbreak is assisting the market expansion of ethanol. The Centers for Disease Control and Prevention (CDC) suggested using ethanol because it efficiently kills bacteria, viruses, and fungi. Leading corporations are expanding their production facilities due to the easy availability of raw materials for ethanol manufacturing in developing nations.
Strict environmental restrictions regarding the usage of biofuels support the production of ethanol. Future target market expansion for ethanol is predicted to be aided by growing end-use applications in the beauty sector as a solvent and in several domestic applications.
Key Takeaways
- The sugarcane segment in the feedstock category to grab a share of 35% from 2023 to 2033.
- In the application category, the automobiles and transportation segment to acquire a market share of 27% between 2023 and 2033.
- The United States ethanol business to acquire a share of 15.20% by 2023.
- The Germany ethanol industry is likely to grab a share of 4.50% by 2023.
- Japanese ethanol market to hold a share of 5.40% by 2023.
- Australia ethanol industry to acquire a share of 1.8% by 2023.
- Chinese ethanol business to expand at a CAGR of 5% through 2033.
- India ethanol industry is to develop at a CAGR of 5.5% from 2023 to 2033.
- United Kingdom ethanol business to evolve at a CAGR of 4% through 2033.
Key Manufacturers in the Ethanol Industry
- Archer Daniels Midland Company
- Aventine Renewable Energy
- United Breweries
- Krin, The Andersons Inc.
- British Petroleum
- Advanced Bioenergy LLC
- Stake Technology
- VeraSun Renewable Energy
- Alternative Energy Sources
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Key Segments
By Feedstock:
- Sugarcane
- Corn
- Wheat
- Barley
By Application:
- Automobiles and Transportation
- Medicines
- Food and Beverages
- Fuel Cells
- Cosmetics
- Fertilizers
- Pesticides
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
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