Overview and Scope
Fuel ethanol, also referred to as ethyl alcohol, is a type of alcohol made from corn, sugarcane, grains, and occasionally paper waste. It is also the primary form of alcohol in most alcoholic drinks made from the fermentation of a mash of grains or sugarcane. Fuel ethanol is a fuel source that is regularly combined with gasoline to oxygenate the fuel at the gas station. Additionally, ethanol fuel is used to power automobiles.
Sizing and Forecast
The fuel ethanol market size has grown strongly in recent years. It will grow from $96.06 billion in 2023 to $102.32 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to expansion of the automotive industry, government policies and regulations promoting the use of biofuels, demand for ethanol as an industrial solvent, consumer behavior shifts, economic growth.
The fuel ethanol market size is expected to see strong growth in the next few years. It will grow to $131.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growing demand for biofuels and renewable energy sources, increasing adoption of ethanol as a fuel additive, expansion of the chemical and pharmaceutical industries, rising demand for ethanol-based beverages, growing demand for ethanol in the transportation sector. Major trends in the forecast period include focus on research and development by industry players, technological advancements, dominance of the fuel and fuel additives application segment, mergers and acquisitions.
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Segmentation & Regional Insights
The fuel ethanol market covered in this report is segmented –
1) By Product: Starch Based, Sugar Based, Cellulosic
2) By Source: Synthetic, Natural
3) By Raw Material: Maize, Wheat, Industrial Beets, Sugarcane, Cereal and Starch, Other Raw Materials
4) By Application: Conventional Vehicles, Flexible Fuel Vehicles
5) By End-User: Automotive, Oil and Gas, Other End Users
North America was the largest region in the fuel ethanol market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fuel ethanol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising consumption of ethanol in the automobile industry will propel the growth of the fuel ethanol market going forward. Automobiles, also known as motorcars or cars, are typically four-wheeled vehicles that are primarily used for transporting people. Fuel ethanol is used to power automobiles. For instance, in January 2022, according to S&P Global Commodity Insights, a UK-based energy company, the demand for fuel ethanol in Europe is predicted to increase by 10% to 6,490 million liters in 2022, while production is expected to rise by 4% to 6.016 billion liters. Therefore, rising ethanol consumption in the automobile industry is driving the growth of the fuel ethanol market.
Key Industry Players
Major companies operating in the fuel ethanol market report are Mitsubishi Chemical Corporation, Valero Energy Corporation, The Andersons Inc., Aemetis Inc., British Petroleum Company plc, Cargill Incorporated, Archer Daniels Midland Company, LyondellBasell Industries Holdings B.V., Sasol Limited, Solvay SA, DuPont de Nemours Inc., Delta-T Corporation, Raízen S.A., Green Plains Inc., Renewable Energy Group Inc., Flint Hills Resources, CropEnergies AG, Abengoa Bioenergy, Aventine Renewable Energy Holdings Inc., Big River Resources LLC, Red Trail Energy LLC, Marquis Energy LLC, ICM Inc., Panda Energy International Inc., POET LLC, Pacific Ethanol Inc., BlueFire Renewables, Advanced BioEnergy LLC, White Energy Inc., Andersons Ethanol Group LLC, Glacial Lakes Energy LLC
The fuel ethanol market report table of contents includes:
1. Executive Summary
2. Fuel Ethanol Market Characteristics
3. Fuel Ethanol Market Trends And Strategies
4. Fuel Ethanol Market – Macro Economic Scenario
5. Global Fuel Ethanol Market Size and Growth
…………….
32. Global Fuel Ethanol Market Competitive Benchmarking
33. Global Fuel Ethanol Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fuel Ethanol Market
35. Fuel Ethanol Market Future Outlook and Potential Analysis
36. Appendix
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