10-Jun-2020 | Facts and Factors
Findings from Facts and Factors report “Fuel Ethanol Market By Type (Starch-Based, Sugar-Based, and Cellulosic), and By Application (Conventional Fuel Vehicles, Flexible Fuel Vehicles, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" states that the global fuel ethanol market in 2019 was approximately USD 80.2 billion. The market is expected to grow at a CAGR of 6.8% and is anticipated to reach around USD 127.1 billion by 2026.
The growing requirements related to the reduction of carbon emissions from gasoline are expected to drive the fuel ethanol market as it is used as an additive in gasoline. Ethyl alcohol is used as a blending agent in gasoline because it improves the efficiency of vehicles along with assuring energy security. Various countries in the Asia Pacific such as India, South Korea, and China are top importers of crude oil and hence are anticipated to boost the fuel ethanol market.
Browse the full “Fuel Ethanol Market By Type (Starch-Based, Sugar-Based, and Cellulosic), and By Application (Conventional Fuel Vehicles, Flexible Fuel Vehicles, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/fuel-ethanol-market-by-type-starch-based-sugar-1069
In type segmentation, the starch-based category has the largest market in 2019 and is expected to grow at a higher pace with a CAGR of 5.72% by 2026. The raw materials used in starch-based products are barley, corn, cassava, and wheat as these products have very contents of starch and can significantly reduce Green House Gas (GHG). The major application of ethanol fuel is in the automotive and transportation industry in which the conventional fuel vehicles segment had the largest share in 2019 and is anticipated to continue its dominance in the upcoming years. Gasoline with low ethanol levels such as E15 and E10 that have 90% gasoline and 10% ethanol are used in conventional vehicles. The growing disposable income by the growing population in countries such as India, China, Brazil, and the U.S. has increased the number of automobile users which ultimately increases the fuel economy of conventional vehicles in these countries.
North America dominated the fuel ethanol market in 2019 and is estimated to continue its dominance in the upcoming years due to the deep-rooted automobile industry in North America especially in the U.S. along with strict laws and regulations on the emission of particulates. In countries such as Mexico and Canada, a number of environmental programs and policies have been implemented that are promoting the growth of the industry. In 2016, an agreement was signed by Canada called The Paris Agreement according to which Canada has plans of reducing emissions by almost 30% by 2030. This is anticipated to boost the demand for low carbon intensity fuels and hence boosting the demand for ethanol fuel in the upcoming years. Aisa Pacific fuel ethanol is expected to grow at a significant rate in the upcoming years owing to the increasing foreign investments along with the government initiatives promoting sustainable development which is ultimately anticipated to drive the demand for biofuels in the upcoming years in growing economies such as India, China, and Southeast Asia.
Top Market Players
Some of the key players of the fuel ethanol market are BlueFire Renewables, Inc., Cargill, Inc., Flint Hills Resources LP, Valero Energy Corporation, Green Plains Renewable, Inc., Wilmar International Ltd., Archer Daniels Midland Company, BP plc, E.I. du Pont de Nemours and Company, Pacific Ethanol, Inc., Raízen S.A., Jilin Fuel Ethanol Co., Ltd., and Others.
This report segments the fuel ethanol market as follows:
Global Fuel Ethanol Market: By Type Segmentation Analysis
Global Fuel Ethanol Market: By Application Segmentation Analysis
Global Fuel Ethanol Market: Regional Segmentation Analysis
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