Fuel Ethanol Market to Witness Exponential Growth by 2031

Fuel ethanol is a renewable fuel made from various plant materials collectively known as biomass and even waste biomass, which can be used in existing motor engines without modification. Fuel ethanol is used as an additive to gasoline to increase the octane content in the fuel. The need for a green energy source for the production of fuel led to the development of fuel ethanol manufacturers across the world. The increasing CO2 content in the environment has led to a surge in global warming in recent years, most of the CO2 emissions across the globe are mostly due to the use of automotive vehicles in the transportation industry.

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The fuel ethanol market was valued at $86.0 billion in 2021 and is estimated to reach $134.5 billion by 2031, growing at a CAGR of 4.61% from 2022 to 2031.

The surge in the expansion of utilization of conventional and flexible fuel vehicles in the transportation industry is expected to propel the demand for fuel ethanol throughout the forecast period. The need for sustainable green energy development and government support to green industries which are helpful in achieving the zero-carbon emission targets led to the expansion and investment in the development of ethanol fuel manufacturing centers. Ethanol fuel is a key additive for gasoline to bring changes in the transportation industry through impressive reduction of carbon emission by over 80% and also increase the life cycle of the engine compared to fossil fuel. The increasing investment of the government and market players across the world towards the procurement of the fuel ethanol raw materials from the producer has a positive impact on the growth of the market. The growing awareness among the people in regard to the positive impact of blended fuel in the train.

The increase in innovation and development of technology in the improvement of the efficiency of the extraction of biofuels (which includes fuel ethanol) from biomass has a positive impact on the future development of the market. The increase in investment of major oil manufacturers in the procurement of fuel ethanol from the fuel ethanol producers to improve the gasoline octane content, reduce the production of carbon soot, and follow the government regulations to reduce carbon emission are major factors driving the growth of the fuel ethanol industry.

Increase in technology to extract ethanol fuel from non-food crops with economical cost, the government policies and initiatives to support the green industries, which can provide extra income to the farmers and also reduce the carbon emission during improper handling of the agricultural waste. In addition to the presence of global fuel giants such as Shell, Hindustan Petroleum Corporation Limited has reached various partnerships, collaborations, and acquisitions in regard to biofuel-related companies in order to commercialize the biofuel will create opportunities for the growth of the fuel ethanol market. In addition to the above-mentioned factors, this fuel ethanol can be used in the power generation sector using the existing infrastructure of diesel-fired power plants is another positive factor for the fuel ethanol market forecast growth.

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The rapid innovation and investment of new entrants to develop alternative processing methods for ethanol fuel and the presence of very few refineries to meet the ongoing demand for ethanol fuel is a negative impact on the development of the fuel ethanol market growth. The stringent regulation of the government to the manufacturer to follow the guidelines has led to an additional investment in the ethanol fuel producer. The low availability of fuel has limited the blending capacity of the fuel, which led to a lowering of the efficiency. The above-mentioned factors are all expected to hamper the development of fuel ethanol market opportunities during the forecast period.

The fuel ethanol market is segmented on the basis of source, product, application, end-use industry, and region.

On the basis of source, the global fuel ethanol market is segmented into synthetic and natural. On the basis of product, the market is segmented into starch-based, sugar-based, and cellulosic. On the basis of application, the market is bifurcated into conventional vehicles and flexible fuel vehicles. On the basis of the end-use industry, the global market is classified into automotive, oil & gas, and others.

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific.

The major companies profiled in this report include Braskem, BP PLC, Cargill Incorporated, INEOS, HPCL Biofuels Limited, Lyondell Basell Industries Holdings BV, Mitsubishi Chemical Corporation, SABIC, Sasol Limited, Solvay SA. Other companies that are not profiled in the report include Archer Daniels Midland Company, KFS Biodiesel GmbH & Co KG, Petrosun, Inc., Red Rock Biofuels, Shirke energy, Targray Technology International Inc., and Vega Biofuels. Rapid urbanization and a surge in the development of transportation infrastructure have fuelled the demand for the fuel ethanol market in order to reduce the impact of the transportation sector on the environment. Additional growth strategies such as the expansion of production capacities, acquisition, collaboration, joint venture, and partnership in the development of innovative products from manufacturers have helped to attain key developments in the global fuel ethanol market trends.

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Key findings of the study

• Region-wise, in terms of fuel ethanol market size, North America is projected to witness growth at the highest CAGR in terms of revenue, during the forecast period.
• As per global fuel ethanol market analysis, by source, the natural segment accounted for the largest share in 2021.
• On the basis of product, the starch-based segment is expected to possess the highest incremental $ opportunity till 2031.
• On the basis of application, the conventional vehicle segment was the major fuel ethanol market share contributor in 2021.
• On the basis of end-use industry, the automotive segment is expected to dominate the market till 2031

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