Bio Alcohol Market Analysis, Growth Opportunities and Recent Trends by Leading Manufacturers & Regions
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In terms of application, the bio alcohol market is divided into transportation, power generation, medical, and others. Emerging uses of bioethanol in energy-oriented applications such as in power generation provides lucrative opportunities for market growth.
Asia-Pacific is expected to be the fastest growing region for bio alcohol market owing to the enduring growth in the end-user industries including construction, transportation, and electronics. The region has a presence of huge population and is witnessing a growing demand for high performance products with increase in the income of the middle class. The countries in the region including China, India, and Indonesia are investing highly on the construction and infrastructure projects. This coupled with growing automotive sector to make the region a prominent market for bio-based alcohols.
The demand for fossil fuels is increasing substantially over the last decades. These are considered to be highly expensive and are claimed to be the main reason for global warming. Bio-based alcohols are considered to be an alternative for fossil fuels. The exhaust gases of these alcohols are much cleaner and their usage reduces the net emissions of greenhouse gases by more than 37.1%. All these eco-friendly factors are anticipated to drive the bio alcohol market through the forecast period. Apart from this, the power potential of bio-based alcohol is also high, making it a highly feasible fuel to be used at large scales.
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High availability and low cost of biomass is predicted to provide significant amount of feedstock for the production of bio alcohol in the long term. Feedstock and investment cost affects economy of scale as more than 75% of the bio alcohol production is dependent on feedstock. Rising conversion of biomass to ethanol as alternative to sugar and grain surplus is reliant on food market situations. This in turn provides significant opportunities for utilization of biomass in the bio alcohol market in coming years.
Some of the major players operating in the global bio alcohol market Genomatica Inc., BASF SE, Fulcrum BioEnergy Inc, Cool Planet Energy Systems Inc., DowDuPont Inc, Myriant Corporation, Mascoma LLC, Harvest Power Inc., and Mitsubishi Chemical Corporation.
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