The global Fuel Ethanol market is expected to reach USD 122.35 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the rapid replacement of leaded fuel with ethanol additives and the availability of inexpensive feedstock for the production of ethanol fuel.
Ethanol fuel is a less expensive energy source since, production of fuels using wastes of corn, sugar cane or grains is more economical as compared to fossil fuels, which can be a bane to the economy of most countries, especially, and developing countries who cannot afford to explore them. Thus, the adoption of ethanol as a fuel by these growing economies can boost the market for fuel ethanol.
Moreover, global warming which is caused by constant emission of hazardous greenhouse gases from the use of fossil fuels, such as natural gas, oil, and coal, which are resulting in catastrophic effects including rising sea levels, weather pattern changes, and excessive heat. Combustion of ethanol fuel only releases carbon dioxide and water, which is ineffective to environmental degradation.
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Market Overview:
The power and energy industry is significantly expanding in terms of revenue in the recent years and is expected to account for robust revenue growth in the coming years. Rapid urbanization and industrialization, high demand and consumption of power and energy in various sectors like IT, agriculture, healthcare, industrial and manufacturing sector and increasing demand for smart homes are key factors boosting global market revenue growth. In addition, increasing awareness about green energy and excess consumption of renewable resources, rising number of projects related to oil and gas exploration are further supporting market growth. Presence of key players, increasing adoption of smart buildings and rising funds by public and private organizations is further expected to fuel growth of the global Fuel Ethanol market in the coming years.
Top Players Analyzed in the Report are:
The Andersons, Inc. (USA), Advanced BioEnergy LLC (USA), BlueFire Renewables (USA), Archer Daniels Midland Company (USA), Cargill Incorporated (USA), BP PLC (UK), Mascoma LLC (USA), Flint Hills Resources (USA), Pacific Ethanol, Inc. (USA), and Panda Energy International Inc. (USA), among others.
Further key findings from the report suggest
• The market is segmented on the basis of raw material into crops, wastes, biomass, starchy grains and fossil fuels.
• Crops segment dominated the market in 2018, and will have the highest growth of 6.4% during the forecast period, since crop waste-based fuels reduces greenhouse emissions.
• The market is segmented on the basis of product type into starch-based, sugar-based and cellulosic.
• Starch-based segment held the largest share of the global market in 2018, and is forecasted to witness a growth of 5.0% during the forecast period.
• The starch-based fuel is produced by using raw materials such as corn, wheat, barley, and cassava, which can reduce greenhouse gas (GHG) emissions to a substantial amount.
• The market is segmented on the basis of application into conventional fuel vehicles, flexible fuel vehicles and others.
• Conventional fuel vehicles segment dominated the market in 2018, accounting for ~60% of the global market share, and is forecasted to have a CAGR of 4.6% during the forecast period.
• The rising demand for conventional fuel vehicles in countries such as the US, India, Brazil, and China, is expected to boost the consumption of ethanol fuel in the coming years.
• The market is segmented on the basis of industry vertical into oil & gas, food & beverages, automotive, chemicals & materials, healthcare & pharmaceuticals, and others.
• Automotive segment dominated the market in 2018, and will maintain its dominance, with a growth of 6.5% during the forecast period.
• The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
• North America dominated the market in 2018, with a forecasted CAGR of 6.0% during the forecast period, due to the occupancy of a well-established automotive industry and stringent regulations regarding greenhouse emissions.
For the purpose of this report, Reports and Data have segmented global Fuel Ethanol Market on the basis of raw material, product type, industry vertical, application, and region:
Raw material Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
• Crops
o Fuel crops (Algae)
o Corn
o Sugar crops
• Wastes
o Food waste
o Forest waste
o Agricultural waste
• Biomass
• Starchy grains
• Fossil fuels
Product type Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
• Starch-based
• Sugar-based
• Cellulosic
Application Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
• Conventional fuel vehicles
• Flexible fuel vehicles
• Others
Industry vertical Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
• Oil & gas
• Food & beverages
• Automotive
• Chemical & materials
• Healthcare & pharmaceuticals
• Others
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The report covers extensive analysis of the regions where the industry operates. According to the regional analysis, the market is segmented into key geographical areas such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regions have been examined on the basis of the production and manufacturing capacities and costs. Research analysts have formulated this report through extensive primary and secondary research on the regional segmentation.
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Key questions addressed in the report are:
• What are the risks and challenges the companies will have to face in the forecast period?
• What are the emerging trends and how they influence market growth?
• What is the estimated market size and share in the forecast period?
• What are the key driving factors of the Global Fuel Ethanol market?
• What are the opportunities for expansion of the global Fuel Ethanol market?
• Which region is expected to dominate the market during the forecast period?
For comprehensive coverage, the report also segments the market based on types, applications, and regions. Analysis of each market segment, along with projections, is offered in the report. The report discusses profitability, gross margins, global demand, sales volume, and growth prospects of each market segment.
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