Bio-Alcohols Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Bio-Alcohols Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global bio-alcohols market size reached US$ 12.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.2 Billion by 2028, exhibiting a growth rate (CAGR) of 10.2% during 2023-2028.

Bio-alcohols comprisebiomethanol, bioethanol, biopropanol, and biobutanol, which are renewable and eco-friendly fuels produced from biological resources or biomass. They are fermented by the action of microorganisms and enzymes through the fermentation of sugars, starches, and cellulose. They are combustible, volatile, and offer low viscosity and toxicity with a high energy density. At present, due to the emerging trend of cocktail culture, especially among millennials, bio-alcohols are gaining immense traction in alcoholic beverages.

Bio-Alcohols Market Trends:

The increasing adoption of biofuels in automobiles due to the implementation of stringent government regulations for minimizing carbon emissions of vehicles represents one of the major factors positively influencing the demand for bio-alcohols. It can also be attributed to the risingsales of high-performance automobiles and inflating prices of petrol worldwide. In addition, it is used in construction materials as it is a biodegradable, sustainable and economicalrenewable energy resource. This, in confluence with rising construction activities in the residential, commercial, and industrial areas, is contributing to the market growth. Apart from this, bio-alcohols are widely employed in personal care and cosmetic products, such as perfumes, body mist, hair sprays, and hand sanitizers. This, along with the growing demand for organic and natural products, is propelling the market growth. Furthermore, the increasing consumer awareness abouthousehold cleanliness and hygiene is catalyzing the demand for bio-alcohols in household cleaners and disinfectants. Besides this, the widespread product usage in the production of medicinal productsis offering lucrative growth opportunities to industry investors.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global bio-alcohols market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, raw material and application.

Breakup by Product Type:

Bio-Methanol
Bio-Ethanol
Bio-Butanol
Bio-BDO
Others

Bio-ethanol dominates the market as it exhaust gases of ethanol are much cleaner.

Breakup by Raw Material:

Grains
Sugarcane
Industrial Beets
Biowaste
Others


Grains currently account for the majority of the total market share.

Breakup by Application:

Transportation
Construction
Medical
Power Generation
Others

Bio-alcohols find extensive application in the transportation industry to minimize carbon emissions.

Breakup by Region:

North America

United States
Canada


Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


Latin America

Brazil
Mexico
Others


Middle East and Africa


North America holds the majority of the global bio-alcohols market share due to increasing construction activities in the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are BASF SE, Braskem SA, Cargill, Incorporated, DuPont de Nemours, Inc., Fulcrum BioEnergy, Inc., Genomatica, Inc., Harvest Power, Koninklijke DSM N.V., Lallemand Inc., Mitsubishi Chemical Holdings Corporation, PTT Global Chemical Public Company Limited, and Valero Marketing and Supply Company.

Key Questions Answered in This Report:

How has the global bio-alcohols market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global bio-alcohols market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the raw material?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global bio-alcohols market and who are the key players?
What is the degree of competition in the industry?