Fuel Ethanol Market Research Business Prospects, Growth Opportunities, Regional Analysis ,Statistics and Forecast to 2027
The
Global Fuel Ethanol Market has been segmented on the basis of Application,
Product Type, and Region. Based on the Applications, this market has been
segmented into alcoholic beverages, automotive, chemical feedstock,
pharmaceuticals, and others. On the basis of Product Types, the market has been
segmented into cellulosic, starch based, and sugar based. The Regional
Segmentation of the Global Fuel Ethanol Market segments
the market into continent-based regional markets known as North America,
Europe, Latin America, Asia Pacific, and the Middle East & Africa (MEA).
With very limited membership in the global petroleum business, search for
alternatives is always on. One such alternative is ethanol. Market Research
Future (MRFR) has published a research report about Global Fuel Ethanol Market
that estimates rise for this market with 6.40% CAGR (Compound Annual Growth
Rate) for this market between 2017 and 2023. In terms of value, the market that
is worth the US $ 68.6 bn in 2016 is expected to be worth the US $ 99 bn in
2023.
Some
of the key factors driving the growth of Fuel Ethanol Market include increasing crude oil prices
and need to reduce carbon emissions from the automotive and transportation
industry due to social awareness and government made laws. However, the use of
agricultural products for production of Fuel Ethanol and the use of biomass as
a substitute of fuel ethanol for electricity generation can hamper the market
growth.
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Complete Report @
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Key
Players
Key players in the Global Fuel
Ethanol Market include Advanced BioEnergy LLC (USA), The Andersons, Inc. (USA),
Archer Daniels Midland Company (USA), BlueFire Renewables (USA), BP PLC (UK),
Cargill Incorporated (USA), Flint Hills Resources (USA), Mascoma LLC (USA),
Pacific Ethanol, Inc. (USA), and Panda Energy International Inc. (USA).
North America has the
potential to be the largest regional market due to established automotive
industry, technological advancement, rising awareness regarding the need to curb
carbon emissions, and the presence of many key market players in this region.
The strong country-specific markets in this region are the United States of
America (USA) and Canada. The rapid technological advancement makes North
America a bigger market than Latin America. In Latin America, the strongest
economies that have the potential to emerge as strong markets include
Argentina, Brazil, and Mexico, followed by the rest of Latin America.
Europe is another important
regional market due to the high density of population, government imposed
regulations regarding carbon emissions, the maximum technological advancement
after North America, and established automotive industry in countries like
Germany. In this region, the other major country-specific markets are France,
Spain, Italy, Russia, and the United Kingdom (UK), followed by the rest of
Europe.
Asia Pacific is another
crucial market and during the forecast period, it can be the fastest growing
market due to rapid urbanization, rising disposable income, speedy economic
development, growing demand for eco-friendly vehicles & fuel, and growing
demand for eco-friendly vehicles as well as fuels. The primary country-specific
markets in this region are Australia, China, India, Japan, and New Zealand,
followed by the rest of the Asia Pacific region.
The
MEA region shows limited market with slow and steady growth. The reasons for
the slow market growth in this region are use of available fuels like
petroleum, limited availability of ethanol, lack of education, lack of
awareness, lack of technological development, and political instability.
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