Global ethanol market to reach $ 131.6 billion by end of 2027, according to Coherent Market Insights
SEATTLE, November 8, 2021 / PRNewswire / – According to Coherent Market Insights, the global ethanol market is estimated at $ 131.6 billion in value terms, with a CAGR of 4.9% by the end of 2027.
Ethanol is an organic compound that is made from fermented agricultural products like grains, leafy vegetables, and animal waste. Unlike other renewable fuel sources, ethanol can be directly converted into liquid fuels, also known as “biodiesel fuels,” to meet automotive fuel demands.
Ethanol is produced by fermenting sugars and starch with the necessary bacteria and yeasts. There are two ways to create ethanol: directly using animal waste, and indirectly using wood and forest pulp or wood chips. The direct expression of alcohol is by distillation of the alcohol. On the other hand, the indirect expression of alcohol takes place through the process of transesterification in which the end products of fermentation are treated with chemicals for the purpose of clarification and separation. The result is a mixture of sugars and starch, and sometimes other elements such as nitrogen and phosphorus are added. When this mixture is fermented, the yeast converts it to ethanol, and the mixtures are then transferred to a tank, where they undergo further processing for a period of time, during which the mixtures ferment even more, resulting in more ethanol.
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The increased investment to secure access to ethanol is expected to propel the growth of the global ethanol market during the forecast period. For example, in September 2021, the US Department of Agriculture announced US $ 7.5 million investment in the American Coalition for Ethanol’s Regional Conservation Partnership Program aimed at securing access to ethanol for farmers.
Moreover, the increase in ethanol production is also expected to propel the growth of the global ethanol market during the forecast period. For example, in September 2021, Triveni Engineering & Industries Ltd., an agricultural and engineering company of India, announced its intention to invest more than $ 47 million double its ethanol production over the next nine months to 660,000 liters per day.
The expansion of production capacities is expected to provide lucrative growth opportunities for players in the global market. ethanol market. For example, in October 2021, Clariant AG has completed the construction of the Sunliquid plant for the production of cellulosic ethanol from agricultural residues in Podari, Romania.
In addition, the commercialization of sustainable ethanol-jet projects is also expected to provide lucrative growth opportunities for players in the global ethanol market. For example, in October 2021, Gevo Inc., a renewable chemicals and advanced biofuels company, has partnered with Axens North America Inc., a solutions provider for the conversion of petroleum and biomass into cleaner fuels, for R&D in the commercialization of sustainable ethanol-jet projects in the US
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Asia Pacific is expected to experience significant growth in the global ethanol market, due to the approval of the use of ethanol as an automotive fuel. For example, in March 2021, The Ministry of Road Transport and Highways, Government of India, approved the use of E20 – a mixture of 20% ethanol and 80% gasoline – as automotive fuel.
North America The global ethanol market is also expected to experience significant growth, owing to the increase in ethanol production. For example, in October 2021, Energy Information Administration (EIA) data analyzed by the Renewable Fuels Association indicated that ethanol production increased by 64,000 barrels per day (b / d), or 6.2%, to 1.096 million bpd, or the equivalent of 46.03 million gallons per day.
The major players in the global ethanol market are Ace Ethanol LLC, Advanced Bio Energy LLC, Archer Daniels Midland Company, Cargill Inc., Flint Hills Resources, Grain Processing Corporation, MGP Ingredients and Marquis Energy.
The major players in the global ethanol market are focused on adopting partnership strategies to increase their market share. For example, in October 2021, Archer Daniels Midland Co. has partnered with Gevo, Inc., a company focused on transforming renewable energies into low-carbon, energy-dense liquid hydrocarbons, to support the production of sustainable aviation fuel and other low carbon fuels using ethanol and isobutanol.
Market segmentation :
- Natural source
- Synthetic source
By end-use industry
- Alcoholic beverages
Global Ethanol Market, By Region:
- North America
- By country:
- Rest of Europe
- Asia Pacific
- By country:
- South Korea
- Rest of Asia Pacific
- Latin America
- By country:
- Rest of Latin America
- Middle East & Africa
- By country:
- GCC countries
- South Africa
- Rest of Middle East & Africa
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