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Ethanol Biofuel Market Trends

Report ID: GMI7909
Published Date: Jan 2024
Report Format: PDF

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Ethanol Biofuel Market Trends

The global ethanol biofuel industry is expected to witness substantial growth, driven by the increased focus on advanced ethanol technologies, such as cellulosic ethanol production along with growing interest in sustainable and low-carbon ethanol production methods. Government initiatives and policies promoting ethanol as an alternative fuel source are influencing market dynamics.

Technological advancements in the biofuel sector have led to substantial cost reductions, positioning it as a compelling alternative to fossil fuels. The introduction of innovative feedstock sources for biofuel production is expected to drive industry growth in the foreseeable future. Moreover, the increasing focus on the circular economy and waste-to-energy approaches is fostering the utilization of biofuels derived from organic waste materials, thereby enhancing the overall business landscape.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of ethanol biofuel was worth over USD 115.8 billion in 2023 and is set to observe over 7.1% CAGR from 2024 to 2032, driven by an increased desire for environmentally friendly fuels in road transportation.

Transportation segment is anticipated to record over 7.4% CAGR from 2024 to 2032, owing to the increasing adoption of higher ethanol blends.

North America ethanol biofuel industry will record over 7% CAGR from 2024 to 2032, as the U.S. Environmental Protection Agency (EPA) maintained the enforcement of the Renewable Fuel Standard (RFS), requiring the integration of biofuels, particularly ethanol based into the country's transportation fuel distribution.

ADM, Borregaard AS, BTG International Ltd, Cargill, Chevron Corporation, CLARIANT, COFCO, CropEnergies AG, FutureFuel Corporation, GreenJoules, Münzer Bioindustrie GmbH, My Eco Energy, Neste, POET, LLC, Praj Industries, The Andersons, Inc., TotalEnergies, UPM, VERBIO AG, and Wilmar International Ltd.