Zion Market Research has published a new report titled “Fuel Ethanol Market for Pharmaceuticals, Alcoholic Beverages, Chemical Feedstock, Automotive and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global fuel ethanol market was valued at USD 85.64 billion in 2016 and is expected to reach USD 186.01 billion in 2022, growing at a CAGR of 13.8% between 2016 and 2022.
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Fuel ethanol is an ethyl alcohol. It is the type of alcohol found in alcoholic beverages and also used as a fuel. Most often it is used as a motor fuel, mainly as a biofuel additive for gasoline. Fuel ethanol is formed by the process of microbial fermentation of sugar. The fermentation process takes place with help of two major components of plants, starch, and cellulose; both made up of sugars and can be converted to sugars for fermentation. Fuel ethanol is most widely used in the United States and Brazil and both countries together were responsible for 87% of the world’s fuel ethanol production in the year 2011. The Brazilian government has made it compulsory to mix ethanol with gasoline and since 2007 the legal blend is around 75% gasoline and 25% ethanol.
The rapid rise in crude oil prices is the major growth factor for the global fuel ethanol market. Moreover, increasing green house gas emissions and government support with the help of initiatives for ethanol production are also expected to be the other major drivers of the global fuel ethanol market within the forecast period. However, a number of agricultural products needed for producing a significant amount of fuel ethanol can be considered as the major hindering factor for global fuel ethanol market. The increasing use of biomass, as a replacement for fuel ethanol, for electricity generation may affect the market for fuel ethanol over the forecast period.
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The global market for fuel ethanol is segmented on the basis of application and region. According to the application, the market is divided into industrial sectors like alcoholic beverages, pharmaceuticals, automotive, chemical feedstock and others. The automotive segment is expected to register rapid growth in the use of fuel ethanol. On the basis of region, the market for fuel ethanol is divided into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America leads the segment in terms of production as well as consumption.
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The key players in the global market for fuel ethanol are Stake Technology, The Andersons Inc., Advanced Bioenergy LLC., Mascoma Corp., Alternative Energy Sources Inc., Panda Energy International, Blue Fire Ethanol Inc., British Petroleum, DuPont, Pure Energy Inc., Pacific Ethanol, VeraSun Renewable Energy Corp., Range Fuels, NewGen Technologies Inc., Archer Daniels Midland Company, Cargill Corp., Xethanol Corp. and Aventine Renewable Energy Inc, among others.
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