Press release
Bioethanol Industry & Process Oil Market Rising Demand in Energy & Power Technology Predicted to Witness 6.4% & 5.4% of CAGR By End-use 2023
Bioethanol market is valued at $48.7 billion in 2016 and is expected to grow at a CAGR of 6.4% to reach $75.5 billion by 2023. The global market for bioethanol derives much of its growth from the increasing demand for renewable energy sources. Additionally, rising environmental concerns, depleting conventional resources of energy, volatile petroleum prices, constant efforts in R&D to produce ethanol from algae, abundant raw material availability, lower greenhouse gas emissions, technological advancements and favorable government support through investment programs, regulations and policies are the factors likely to reflect positively on the demand for bioethanol over the forthcoming years. However, shift towards electric vehicles, food vs fuel debate and competition with other oxygenates may hamper the market’s growth to some extent in the near future.
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Bioethanol has been identified as the mostly used biofuel worldwide since it significantly contributes to the reduction of crude oil consumption and environmental pollution. It can be produced using various feedstocks such as cellulose, starch and sugarcane through fermentation and chemical process. Bioethanol is an attractive alternative to conventional fuel sources, which can be used in various end use industries such as automotive, chemical, power generation and cosmetics.
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Among verticals, transportation segment accounted for the highest market share in 2016, owing to the increasing consumption of biofuels. Growing demand for bioethanol in road transport applications is expected to compel manufacturers to invest more in R&D to develop low-cost renewable fuel resources. However, alcoholic beverages segment is expected to witness fastest growth on account of increasing demand from emerging countries.
North America has been leading the global market for bioethanol. The growing usage of these products in the transportation industry and growing government & environment regulations are the factors anticipated to fuel the demand for bioethanol in North America over next few years, ensuring its dominance. On the other hand, Latin America and Asia Pacific regions are likely to witness strong growth due to the availability of arable land in India, China and Brazil.
Petrobras, Dupont, Royal Dutch Shell PLC, United Petroleum Pty, Flint Hills Resources, Abengoa Bioenergy S.A., BP PLC, CropEnergies AG, Hankinson Renewable Energy, Archer Daniels Midland Company, Honeywell, Absolute Energy, LLC, Pacific Ethanol, Inc., New Generation Biofuels Holdings, Inc., Poet, LLC, Global Green SA, Vivergo Fuels, Beckons Industries Ltd., Green Plains and Valero Energy Corporation are some of the leading players operating in the global Bioethanol market.
Feedstock Types Covered:
Cellulose
Starch
Sugarcane
Other feedstock types
Fuel Blends Covered:
E5
E10
E15 to E70
E75 to E85
Other Blends
Verticals Covered:
Alcoholic Beverages
Cosmetics
Pharmaceuticals
Power Generation
Transportation
Other Verticals
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Process Oil-Global Market Outlook (2017-2023)
Global Process Oil Market is accounted for $4.11 billion in 2016 and expected to grow at a CAGR of 5.4% to reach $5.96 billion by 2023. The market is driven by growth of the end user industries, increasing renewable energy installations and demand for personal care products. However, limitations on the usage of polycyclic aromatic hydrocarbon (PAH) and rising environmental hazards will impede market growth. Furthermore, fall in crude oil prices will pose challenge for the market. Moreover, increasing demand for low viscosity oils and increasing demand for green oils (bio-based transformer oil) and next-generation process oils will be the trends that will gain traction.
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Based on Material, the naphthenic segment is projected to be the largest segment, as they are widely used for the manufacturing of various products. Being rich in aromatic hydrocarbons, the oil displays a high solvency advantage for certain types of additives. In the tire industry, it works as extender oil in tire rubber and oil-extended polymers. Naphthenic oil for the anti-caking system of fertiliser pellets contribute to a more attractive product. For instance, in 2016, Nynas AB has produced new high-viscosity product, Nytex 842, to meet the growing market demand for highly refined, high molecular weight process oils.
The paraffinic segment is expected to grow significantly in terms of CAGR during the forecast period. Solvent extracted paraffinic oils are normally 90-95 VI oils that have high flash points, good color stability, low volatility, and a saturate level of 75-93. Hydrocracked paraffinic oils have a slightly higher flash than solvent extracted oils, clear in color, slightly lower volatility, and a saturate level of 98-99. These oils are particularly good in applications needing low color with stability or in high heat environments.
Among applications, the tire & rubber segment dominated the market because of the increasing surge for fuel efficiency and lower energy consumption in the automotive industry. Asia Pacific accounted for the maximum share of the market which attributes to the growth in the polymer and textile industries. Additionally, increase in the trade of automobiles has boosted the tire and rubber sector. North America and Latin America are expected to witness significant growth during the forecast period. In the Latin America, the demand for high quality process oil is gaining traction. Europe holds for the highest consumption of aromatic process oil, due to the beneficial impact of regulations. Despite EU regulations banning distillate aromatic extract, tire labeling legislation and the burgeoning effect of these regulations on other markets is changing the industry.
Access the full Process Oil Market report @ http://www.orbisresearch.com/reports/index/process-oil-global-market-outlook-2017-2023 .
The key players in Global Process Oil market are Ergon Inc., Chevron Corp, Exxon Mobil Corporation, Nynas AB, Idemitsu Kosan Co., Ltd., Total S.A, Royal Dutch Shell plc., Hindustan Petroleum Corporation Limited, Petroliam Nasional Berhad (PETRONAS), Panama Petrochem Ltd, ORGKHIM BIOCHEMICAL HOLDING, San Joaquin Refining Co., Inc. and Behran Oil Co.
Applications Covered:
Personal care
Plastics
Rubber & tire
Textile
Polymer
Adhesives & Sealants
Paints & Coatings
Pharmaceuticals
Other Applications
Types Covered:
Petroleum Oils
Fatty Acid Derivatives
Peptizers
Liquid Polymers
Waxes
Materials Covered:
Paraffinic Oils
Naphthenic Oils
Aromatic Oils
Non-Carcinogenic
Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
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