Ethanol Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Ethanol Market
The ethanol market size was valued at USD 87.71 billion in 2022, and the market is now projected to grow from USD 92.48 billion in 2023 to USD 135.07 billion by 2030, exhibiting a CAGR of 5.6% during the forecast period of 2023-2030.
Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the ethanol market growth. Due to their lower production, the pandemic also had an effect on the price of corn and oil. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions. Stopped providing on-site maintenance and installations market growth sputtered amid the pandemic.
Growing demand for different end-use applications to accelerate ethanol market growth during forecast period. As an oxygenate addition for ordinary gasoline, ethyl alcohol is increasingly being used instead of methyl T-butyl ether (MTBE), which has been connected to serious contamination of soil and groundwater. It can be utilized to power fuel cells and produce biodiesel. Moreover, the substance is used as a solvent to create an iodine tincture and cough syrups, which are then used in the pharmaceutical and food & beverage sectors. Numerous end users have started using products in their goods as a result of these advantages.
One notable trend is the increasing preference for bio-ethanol versus products based on chemicals. The traditional method of producing ethyl alcohol involves using petroleum-based raw materials, which has a high carbon emission rate during production. In addition, the production of goods derived from raw materials derived from crude oil is linked to carbon emissions, posing challenges in adhering to environmental rules mandated by various governments and international organizations. This has forced the producers of the products to concentrate on R&D and production using plant-based, renewable raw resources. As a result, growing environmental consciousness is encouraging the development of bio-based goods and offering profitable chances for the expansion of the ethanol market.
Comprehensive Analysis of Ethanol Market
The ethanol market and chemicals & advanced Materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the chemicals & advanced benefit management industry. These segmentations are methodically segregated by types and by application. The By Type segmentations include Synthetic and Biobased, By Application segmentations include Fuel, Industrial Solvent, Food & Beverages, Chemicals, and others.
The North America region lead the ethanol market by benefitting a market size of USD 41.39 billion in 2022 due to growing demand for different end-use applications and increasing preference for bio-ethanol versus products based on chemicals.
The top players in the market play a crucial role in the chemicals & advanced industry assuring industrial prospectus growth and setting market standards. These prominent key industry players include, Archer Daniels Midland Company (U.S.), British Petroleum (U.K.), Grain Processing Corporation (U.S.), Shree Renuka Sugars Ltd (India), Advanced Bio Energy LLC (U.S.), Kanoria Chemicals & Industries Ltd. (India), and Marquis Energy (U.S.) these market players provide a level-playing competitive environment across the globe.
In May 2023, As the global race for low-carbon fuel builds up pace, British Petroleum, plans to invest directly in farming ventures and buy stakes in producers of biofuel feedstock in order to secure supplies.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
CAGR (2023-2030) CAGR of 5.6% from 2023-2030
Unit Value (USD Billion), Volume (Million Gallon)
Segmentation By Type
Synthetic
Biobased
By Application
Fuel
Industrial Solvent
Food & Beverages
Chemicals
Others
By Geography
North America (By Type, Application, and Country)
U.S. (By Application)
Canada (By Application)
Europe (By Type, Application, and Country)
Germany (By Application)
U.K. (By Application)
France (By Application)
Italy (By Application)
Rest of Europe (By Application)
Asia Pacific (By Type, Application, and Country)
China (By Application)
India (By Application)
Japan (By Application)
South Korea (By Application)
Rest of Asia Pacific (By Application)
Latin America (By Type, Application, and Country)
Brazil (By Application)
Mexico (By Application)
Rest of Latin America (By Application)
Middle East & Africa (By Type, Application, and Country)
Saudi Arabia (By Application)
South Africa (By Application)
Rest of the Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Regions
- 4.2. Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 5. Qualitative Insights on the Impact of COVID-19 on the Global Ethanol Market
- 5.1. Supply Chain Analysis & Challenges due to Covid-19
- 5.2. Steps taken by Government / Companies to Overcome this Impact
- 5.3. Potential Challenges and Opportunities due to COVID-19 Outbreak
- 6. Global Ethanol Market Analysis, Insights and Forecast, 2017-2030
- 6.1. Key Findings / Summary
- 6.2. By Type (Value and Volume)
- 6.2.1. Synthetic
- 6.2.2. Bio-based
- 6.3. By Application (Value and Volume)
- 6.3.1. Fuel
- 6.3.2. Industrial Solvent
- 6.3.3. Food & Beverages
- 6.3.4. Chemicals
- 6.3.5. Others
- 6.4. By Region (Value and Volume)
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Latin America
- 6.4.5. Middle East & Africa
- 7. North America Ethanol Market Analysis, Insights and Forecast, 2017-2030
- 7.1. Key Findings / Summary
- 7.2. By Type (Value and Volume)
- 7.2.1. Synthetic
- 7.2.2. Bio-based
- 7.3. By Application (Value and Volume)
- 7.3.1. Fuel
- 7.3.2. Industrial Solvent
- 7.3.3. Food & Beverages
- 7.3.4. Chemicals
- 7.3.5. Others
- 7.4. By Country (Value and Volume)
- 7.4.1. U.S
- 7.4.1.1. By Application (Value and Volume)
- 7.4.1.1.1. Fuel
- 7.4.1.1.2. Industrial Solvent
- 7.4.1.1.3. Food & Beverages
- 7.4.1.1.4. Chemicals
- 7.4.1.1.5. Others
- 7.4.2. Canada
- 7.4.2.1. By Application (Value and Volume)
- 7.4.2.1.1. Fuel
- 7.4.2.1.2. Industrial Solvent
- 7.4.2.1.3. Food & Beverages
- 7.4.2.1.4. Chemicals
- 7.4.2.1.5. Others
- 8. Europe Ethanol Market Analysis, Insights and Forecast, 2017-2030
- 8.1. Key Findings / Summary
- 8.2. By Type (Value and Volume)
- 8.2.1. Synthetic
- 8.2.2. Bio-based
- 8.3. By Application (Value and Volume)
- 8.3.1. Fuel
- 8.3.2. Industrial Solvent
- 8.3.3. Food & Beverages
- 8.3.4. Chemicals
- 8.3.5. Others
- 8.4. By Country (Value and Volume)
- 8.4.1. Germany
- 8.4.1.1. By Application (Value and Volume)
- 8.4.1.1.1. Fuel
- 8.4.1.1.2. Industrial Solvent
- 8.4.1.1.3. Food & Beverages
- 8.4.1.1.4. Chemicals
- 8.4.1.1.5. Others
- 8.4.2. U.K.
- 8.4.2.1. By Application (Value and Volume)
- 8.4.2.1.1. Fuel
- 8.4.2.1.2. Industrial Solvent
- 8.4.2.1.3. Food & Beverages
- 8.4.2.1.4. Chemicals
- 8.4.2.1.5. Others
- 8.4.3. France
- 8.4.3.1. By Application (Value and Volume)
- 8.4.3.1.1. Fuel
- 8.4.3.1.2. Industrial Solvent
- 8.4.3.1.3. Food & Beverages
- 8.4.3.1.4. Chemicals
- 8.4.3.1.5. Others
- 8.4.4. Italy
- 8.4.4.1. By Application (Value and Volume)
- 8.4.4.1.1. Fuel
- 8.4.4.1.2. Industrial Solvent
- 8.4.4.1.3. Food & Beverages
- 8.4.4.1.4. Chemicals
- 8.4.4.1.5. Others
- 8.4.5. Rest of Europe
- 8.4.5.1. By Application (Value and Volume)
- 8.4.5.1.1. Fuel
- 8.4.5.1.2. Industrial Solvent
- 8.4.5.1.3. Food & Beverages
- 8.4.5.1.4. Chemicals
- 8.4.5.1.5. Others
- 9. Asia-Pacific Ethanol Market Analysis, Insights and Forecast, 2017-2030
- 9.1. Key Findings / Summary
- 9.2. By Type (Value and Volume)
- 9.2.1. Synthetic
- 9.2.2. Bio-based
- 9.3. By Application (Value and Volume)
- 9.3.1. Fuel
- 9.3.2. Industrial Solvent
- 9.3.3. Food & Beverages
- 9.3.4. Chemicals
- 9.3.5. Others
- 9.4. By Country (Value and Volume)
- 9.4.1. China
- 9.4.1.1. By Application (Value and Volume)
- 9.4.1.1.1. Fuel
- 9.4.1.1.2. Industrial Solvent
- 9.4.1.1.3. Food & Beverages
- 9.4.1.1.4. Chemicals
- 9.4.1.1.5. Others
- 9.4.2. India
- 9.4.2.1. By Application (Value and Volume)
- 9.4.2.1.1. Fuel
- 9.4.2.1.2. Industrial Solvent
- 9.4.2.1.3. Food & Beverages
- 9.4.2.1.4. Chemicals
- 9.4.2.1.5. Others
- 9.4.3. Japan
- 9.4.3.1. By Application (Value and Volume)
- 9.4.3.1.1. Fuel
- 9.4.3.1.2. Industrial Solvent
- 9.4.3.1.3. Food & Beverages
- 9.4.3.1.4. Chemicals
- 9.4.3.1.5. Others
- 9.4.4. South Korea
- 9.4.4.1. By Application (Value and Volume)
- 9.4.4.1.1. Fuel
- 9.4.4.1.2. Industrial Solvent
- 9.4.4.1.3. Food & Beverages
- 9.4.4.1.4. Chemicals
- 9.4.4.1.5. Others
- 9.4.5. Rest of Asia Pacific
- 9.4.5.1. By Application (Value and Volume)
- 9.4.5.1.1. Fuel
- 9.4.5.1.2. Industrial Solvent
- 9.4.5.1.3. Food & Beverages
- 9.4.5.1.4. Chemicals
- 9.4.5.1.5. Others
- 10. Latin America Ethanol Market Analysis, Insights and Forecast, 2017-2030
- 10.1. Key Findings / Summary
- 10.2. By Type (Value and Volume)
- 10.2.1. Synthetic
- 10.2.2. Bio-based
- 10.3. By Application (Value and Volume)
- 10.3.1. Fuel
- 10.3.2. Industrial Solvent
- 10.3.3. Food & Beverages
- 10.3.4. Chemicals
- 10.3.5. Others
- 10.4. By Country (Value and Volume)
- 10.4.1. Brazil
- 10.4.1.1. By Application (Value and Volume)
- 10.4.1.1.1. Fuel
- 10.4.1.1.2. Industrial Solvent
- 10.4.1.1.3. Food & Beverages
- 10.4.1.1.4. Chemicals
- 10.4.1.1.5. Others
- 10.4.2. Mexico
- 10.4.2.1. By Application (Value and Volume)
- 10.4.2.1.1. Fuel
- 10.4.2.1.2. Industrial Solvent
- 10.4.2.1.3. Food & Beverages
- 10.4.2.1.4. Chemicals
- 10.4.2.1.5. Others
- 10.4.3. Rest of Latin America
- 10.4.3.1. By Application (Value and Volume)
- 10.4.3.1.1. Fuel
- 10.4.3.1.2. Industrial Solvent
- 10.4.3.1.3. Food & Beverages
- 10.4.3.1.4. Chemicals
- 10.4.3.1.5. Others
- 11. Middle East & Africa Ethanol Market Analysis, Insights and Forecast, 2017-2030
- 11.1. Key Findings / Summary
- 11.2. By Type (Value and Volume)
- 11.2.1. Synthetic
- 11.2.2. Bio-based
- 11.3. By Application (Value and Volume)
- 11.3.1. Fuel
- 11.3.2. Industrial Solvent
- 11.3.3. Food & Beverages
- 11.3.4. Chemicals
- 11.3.5. Others
- 11.4. By Country (Value and Volume)
- 11.4.1. Saudi Arabia
- 11.4.1.1. By Application (Value and Volume)
- 11.4.1.1.1. Fuel
- 11.4.1.1.2. Industrial Solvent
- 11.4.1.1.3. Food & Beverages
- 11.4.1.1.4. Chemicals
- 11.4.1.1.5. Others
- 11.4.2. South Africa
- 11.4.2.1. By Application (Value and Volume)
- 11.4.2.1.1. Fuel
- 11.4.2.1.2. Industrial Solvent
- 11.4.2.1.3. Food & Beverages
- 11.4.2.1.4. Chemicals
- 11.4.2.1.5. Others
- 11.4.3. Rest of the Middle East & Africa
- 11.4.3.1. By Application (Value and Volume)
- 11.4.3.1.1. Fuel
- 11.4.3.1.2. Industrial Solvent
- 11.4.3.1.3. Food & Beverages
- 11.4.3.1.4. Chemicals
- 11.4.3.1.5. Others
- 12. Competitive Landscape
- 12.1. Market Share Analysis, By Key Companies
- 12.2. Company Profiles
- 12.2.1. Cargill Inc.
- 12.2.1.1. Overview
- 12.2.1.2. Description
- 12.2.1.3. Product Portfolio
- 12.2.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.1.5. Recent Developments
- 12.2.2. Archer Daniels Midland Company
- 12.2.2.1. Overview
- 12.2.2.2. Description
- 12.2.2.3. Product Portfolio
- 12.2.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.2.5. Recent Developments
- 12.2.3. British Petroleum
- 12.2.3.1. Overview
- 12.2.3.2. Description
- 12.2.3.3. Product Portfolio
- 12.2.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.3.5. Recent Developments
- 12.2.4. Grain Processing Corporation
- 12.2.4.1. Overview
- 12.2.4.2. Description
- 12.2.4.3. Product Portfolio
- 12.2.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.4.5. Recent Developments
- 12.2.5. Shree Renuka Sugars Ltd
- 12.2.5.1. Overview
- 12.2.5.2. Description
- 12.2.5.3. Product Portfolio
- 12.2.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5.5. Recent Developments
- 12.2.6. Ace Ethanol LLC
- 12.2.6.1. Overview
- 12.2.6.2. Description
- 12.2.6.3. Product Portfolio
- 12.2.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.6.5. Recent Developments
- 12.2.7. Advanced Bio Energy LLC
- 12.2.7.1. Overview
- 12.2.7.2. Description
- 12.2.7.3. Product Portfolio
- 12.2.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.7.5. Recent Developments
- 12.2.8. Kanoria Chemicals & Industries Ltd.
- 12.2.8.1. Overview
- 12.2.8.2. Description
- 12.2.8.3. Product Portfolio
- 12.2.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.8.5. Recent Developments
- 12.2.9. MGP Ingredients
- 12.2.9.1. Overview
- 12.2.9.2. Description
- 12.2.9.3. Product Portfolio
- 12.2.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.9.5. Recent Developments
- 12.2.10. Flint Hills Resources
- 12.2.10.1. Overview
- 12.2.10.2. Description
- 12.2.10.3. Product Portfolio
- 12.2.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.10.5. Recent Developments
- 12.2.11. Marquis Energy
- 12.2.11.1. Overview
- 12.2.11.2. Description
- 12.2.11.3. Product Portfolio
- 12.2.11.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.11.5. Recent Developments
- 13. Strategic Recommendations
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