Bio-alcohol Market to Receive Overwhelming Growth of USD 21.95 billion by 2031 Size, Share, Trends, Opportunities, Key Drivers and Growth Prospectus

The global bio-alcohol market size was valued at USD 10.8 billion in 2022 and is projected to reach a value of USD 21.95 billion by 2031, registering a CAGR of 8.20% during the forecast period 2023-2031. Bio-alcohols, comprising bio-ethanol, bio-methanol, bio-butanol, and bio-propanol, are commonly used as fuels. Microorganisms and enzymes produce them through the fermentation of starches, sugars, or cellulose. The two forms of bio-alcohols are first-generation and second-generation. First-generation is made from crops such as sugar starch and vegetables, which can be used for human consumption. Second-generation products are made from products that humans cannot consume, such as stems, wood, and branches.

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Bio-Alcohols market will expand at a rapid pace due to the rise in non-renewable resource scarcity and fluctuating crude oil prices. Increasing the need for vehicles with a rise in population has fuelled the requirement for Bio-fuels in developing economies together with developing prospects for the global market. It is renewable, eco-friendly, and assists in decreasing carbon impression in contrast to conventional fuels.

Bio-alcohols are sustainable chemicals derived from the fermentation of sugar or cellulose. Bio-alcohol manufacturers are utilizing feedstock such as biomass to manufacture bio-alcohols. With technological progressions, cellulosic biomass is growing its usage in sectors which is likely to complement the market growth.

Top Key Players
BASF SE, Arkema, VERBIO, Vereinigte BioEnergie AG, BRASKEM, DuPont, Cargil, DSM, Mitsubishi Chemical Corporation, Raizen, BP Biofuels, Genomatica Inc., CREMER OLEO GmbH & Co. KG, GODAVARI BIOREFINERIES LTD

Market Segmentation
By Type
• Bio methanol
• Bio ethanol
• Bio bdo
• Bio butanol
• Others

By application
• Medical
• Transportation
• Infrastructure
• Power generation
• Others

By Raw Materials
• Grains
• Sugarcane
• Industrial beets
• Biowaste
• Others

By Region
• North America (U.S., Canada)
• Latin America (Mexico, Brazil, Rest of LATAM)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
• East Asia (China, Japan, South Korea)
• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
• Oceania (Australia, New Zealand)
• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

How Government Policies are Supporting the growth of Bio Alcohol Market?

The governments across the world have been supporting the use of Bio Alcohol. In many nations that support the use of bio alcohol, policy factors include distribution and use support. Many nations support or approve investments in the infrastructure needed for the storage, transportation, and use of bio alcohols. The majority of these expenditures are focused on ethanol and frequently call for sizable equipment purchases.

Such assistance is frequently justified by the argument that excessive ethanol consumption and market expansion would not be achievable until sufficient commercial facilities and distribution infrastructure are in place. Many governments are also promoting flex petrol vehicles, which are intended to use a higher proportion of ethanol and gasoline than traditional vehicles, for example by lowering registration fees and road taxes. While the majority of gasoline vehicles made in OECD nations can use up to 10% and some up to 20% ethanol, gasoline vehicles can utilise up to 85% ethanol.

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Prior to the advent of liquid biofuels, agricultural and forestry policy had a significant impact on the bio alcohol sector. In fact, agricultural subsidies and pricing structures have a direct impact on livestock production systems, systems for raising first-generation biofuel feedstock, production levels and prices of those systems. International trade negotiations under the aegis of the World Trade Organization (WTO) have failed to come to an agreement, despite the introduction of various recommendations on agricultural policies and agricultural protection in several OECD nations. These regulations will have an impact on the development of bio alcohol feedstock, which will have substantial ramifications for international agricultural trade and patterns of agricultural production facilities.

Many contemporary bio alcohol sectors, notably biofuels for transportation, where the merging authority is becoming increasingly more powerful, have developed and grown as a result of limited aims. The G8 + 5 group, which consists of the G8 countries (Canada, France, Germany, Italy, Japan, the Russian Federation, the United Kingdom, and the United States of America), as well as five developing economies (Brazil, China, India, Mexico, and South Africa), summarises the current voluntary and mandatory requirements for the integration of liquid bio alcohols. Despite the fact that laws in this field are continuously changing, it should be highlighted.

Tax exemptions are a means to boost the demand for bio alcohol despite the fact that tax rates are meant to stimulate domestic production and to protect domestic producers. One of the most popular tools is taxes or penalties, which have a significant impact on both the commercial performance and competitiveness of bio alcohol in comparison to other energy sources.
Following an unexpected oil price spike in the 1970s, the United States of America was one of the first OECD nations to establish tax breaks for biofuels under the Energy Tax Act of 1978. The statute allows for exclusions from the combined alcoholic beverage tax. The producers' income tax credit was introduced in 2004 to replace tax exemptions. Since then, various forms of tax evasion have been adopted by some nations.

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