Press release
Fuel Ethanol Industry Set to Achieve $139.22 Billion Milestone by 2029 | Steady 6.9% CAGR
Fuel Ethanol Market Size
What Is the Long-Term Growth Forecast for the Fuel Ethanol Market Size 2025?
The market size of fuel ethanol has seen a significant expansion in the past years. It is predicted to escalate from $101.64 billion in 2024 to $106.73 billion in 2025 with a compound annual growth rate (CAGR) of 5.0%. This steady increase during the historic period can be linked to the growth of the automotive industry, the encouragement of biofuels usage by government policies and regulations, the industrial demand for ethanol as a solvent, changes in consumer behavior, and overall economic growth.
What CAGR is Forecasted for the Fuel Ethanol Market Through 2029?
In the coming years, the fuel ethanol market is anticipated to experience robust growth. By 2029, it is projected to reach $139.22 billion, growing at a compound annual growth rate (CAGR) of 6.9%. This growth over the forecast period can be credited to an increasing demand for biofuels and renewable energy, wider acceptance of ethanol as a fuel additive, the growth of the chemical and pharmaceutical industries, a surge in demand for ethanol-infused beverages, and a rising need for ethanol in the transportation sector. Key trends for the forecast period comprise investments in research and development by industry stakeholders, technological progressions, dominance of the fuel and fuel additives application sector, and industry consolidation through mergers and acquisitions.
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What Are the Critical Factors Driving Fuel Ethanol Market Development?
The fuel ethanol market is poised for expansion, propelled by its increasing usage in the automobile sector. Automobiles, also referred to as motorcars or cars, are predominantly four-wheeled vehicles designed primarily for transporting people, and they use fuel ethanol as a source of power. For example, S&P Global Commodity Insights, a UK-based energy corporation, projected in January 2022 that the demand for fuel ethanol in Europe will surge by 10% to 6,490 million liters in 2022. Meanwhile, production is set to escalate by 4% to 6.016 billion liters. Thus, the escalating use of ethanol in the automobile sector is fueling the expansion of the fuel ethanol market.
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How Does the Fuel Ethanol Market Break Down Across Major Segments?
The fuel ethanol market covered in this report is segmented -
1) By Product: Starch Based, Sugar Based, Cellulosic
2) By Source: Synthetic, Natural
3) By Raw Material: Maize, Wheat, Industrial Beets, Sugarcane, Cereal And Starch, Other Raw Materials
4) By Application: Conventional Vehicles, Flexible Fuel Vehicles
5) By End-User: Automotive, Oil And Gas, Other End Users
Subsegments:
1) By Starch Based: Corn Ethanol, Wheat Ethanol, Barley Ethanol, Potato Ethanol, Other Starch Sources
2) By Sugar Based: Cane Ethanol, Beet Ethanol, Molasses Ethanol, Other Sugar Sources
3) By Cellulosic: Agricultural Residues, Forestry Residues, Dedicated Energy Crops, Municipal Solid Waste, Other Cellulosic Sources
What Are the Major Trends Transforming the Fuel Ethanol Industry?
Major strides in technology are transforming the fuel ethanol market, a trend that is becoming increasing popular. Leading enterprises in the market are leveraging these novel advancements to solidify their market significance. For instance, a prime example of this is when Honeywell, an American multinational corporation, unveiled its innovative ethanol-to-jet (ETJ) fuel processing technology in October 2022. The ETJ technology offers the capability to convert corn, cellulosic biomass, or sugar-based ethanol into sustainable aviation fuel (SAF). Notably, when compared to petroleum-derived jet fuel, this transformative technology decreases greenhouse gas emissions by 80% throughout its full lifecycle.
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Which Players Are Driving Innovation in the Fuel Ethanol Market?
Major companies operating in the fuel ethanol market include Mitsubishi Chemical Corporation, Valero Energy Corporation, Aemetis Inc., British Petroleum Company plc, Cargill Incorporated, Archer Daniels Midland Company, LyondellBasell Industries Holdings B.V., Sasol Limited, DuPont de Nemours Inc., Delta-T Corporation, Raízen S.A., Green Plains Inc., Renewable Energy Group Inc., Flint Hills Resources, CropEnergies AG, Abengoa Bioenergy, Aventine Renewable Energy Holdings Inc., Big River Resources LLC, Red Trail Energy LLC, Marquis Energy LLC, ICM Inc., Panda Energy International Inc., POET LLC, Pacific Ethanol Inc., BlueFire Renewables, Advanced BioEnergy LLC, White Energy Inc., Andersons Ethanol Group LLC, Glacial Lakes Energy LLC
Which Regions Are Driving Global Fuel Ethanol Market Expansion?
North America was the largest region in the fuel ethanol market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fuel ethanol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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