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Bio Alcohol Market Industry Improvement Status and Outlook by 2031
Bio Alcohol Market
Transparency Market Research delivers key insights on the global bio-alcohol market. In terms of revenue, the global bio-alcohol market is estimated to expand at a CAGR of 10% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global bio-alcohol market.
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The global bio-alcohol market is broadly affected by several factors, including increase in usage of bio-alcohol in various applications such as transportation fuel, perfume, flavor enhancer, paints, electronic cleaning, and chemical intermediate. Rise in global demand for transportation fuel and chemical intermediate has led to a significant increase in usage of bio-alcohol. Increase in production and demand for transportation fuel is expected to be the primary driver of the global bio-alcohol market. Moreover, the surge in demand for transportation fuel, chemical intermediate, and agro chemicals is propelling the bio-alcohol market.
Bio-alcohol Market: Dynamics
Bio alcohols can be simply defined as alcohols produced from biological resources or biomass. Biomass is a biodegradable, sustainable, economical and renewable resource that offers various environmental benefits. This, in confluence with the growing environmental consciousness, is boosting the utilization of bio-alcohols in the production of biofuels.
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Several key players are using bio-alcohols in the manufacture of cosmetics and pharmaceutical products due to the rising trend of organic and natural products. Moreover, rapid urbanization, especially in developing countries, rising crude oil prices, stringent emission regulations imposed by governments of various countries, and increasing energy consumption are a few other factors propelling the market.
Manufacturers are focusing on transportation fuel, as the share held by this segment in the bio-alcohol market is likely to increase during the forecast period.
Bio-alcohol Market: Prominent Regions
North America holds a major share of the global bio-alcohol market. The market in the region is anticipated to expand at a CAGR of more than 10.3% during the forecast period. Increase in demand for bio-alcohol in various applications, such as transportation fuel, perfume, flavor enhancer, paints, electronic cleaning, chemical intermediate, pharmaceutical application, and agro chemicals, is driving the bio-alcohol market in Asia Pacific. The U.S. is a key country of the bio-alcohol market in North America. It held a significant share of the bio-alcohol market in North America in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.
Europe is also a prominent region of the global bio-alcohol market. Germany led the bio-alcohol market in Europe in 2020. Increase in demand for bio-alcohol as transportation fuel, chemical intermediate, and agro chemicals is propelling the market in Germany.
Bio-alcohol Market: Major Players
The global bio-alcohol market is consolidated, with the presence of key players. Prominent players operating in the global bio-alcohol market include BASF SE, Arkema, VERBIO, Vereinigte BioEnergie AG, BRASKEM, DuPont, Cargil, DSM, Mitsubishi Chemical Corporation, Raizen, BP Biofuels, Genomatica Inc., Valero Energy Corporation, CREMER OLEO GmbH & Co. KG, and GODAVARI BIOREFINERIES LTD.
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Global Bio-alcohol Market: Segmentation
Bio-alcohol Market, by Type
Bioethanol
Biopropanol
Biomethanol
Biobutanol
Bio-BDO
Others (Bio-glycerol and Bio-ethylene glycol)
Bio-alcohol Market, by Source
Sugarcane
Sugar beet
Grains
Corn
Others (Grains and Bio-waste)
Bio-alcohol Market, by Application
Transportation Fuel
Perfume
Flavor Enhancer
Paints
Electronic Cleaning
Chemical Intermediate
Pharmaceutical Application
Agro Chemicals
Others (Infrastructure and Power Generation)
Bio-alcohol Market, by End-use
Transportation
Food & Beverage
Cosmetics & Personal Care
Paints & Coatings
Industrial & Institutional Cleaning
Chemicals
Others (Construction)
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About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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