Sarasota, FL, Nov. 23, 2017 (GLOBE NEWSWIRE) — 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.
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.
Browse through 14 Tables & 20 Figures spread over 110 Pages and in-depth TOC on “Global Fuel Ethanol Market: Industry Share, Demand, Trends, Analysis and Forecast 2016 – 2022”.
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The rapid rise in crude oil prices is the major growth factor for the global fuel ethanol market. Moreover, increasing greenhouse 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.
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.
Browse the full ” Fuel Ethanol Market for Pharmaceuticals, Alcoholic Beverages, Chemical Feedstock, and Automotive and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022” report at https://www.zionmarketresearch.com/report/fuel-ethanol-market
North America has been the biggest regional market for fuel ethanol, in terms of production as well as consumption in the region. In the last few years, the global fuel market experienced a vast growth in North America owing to strict rules imposed by regulatory agencies to use fuel ethanol as a preservative to automobile fuel. The United States and Canada are the main markets for ethanol in the North America region. The rules and regulations in New York have made it mandatory for the manufacturers to mix ethanol to automobile fuels. The authorized mix up for ethanol and gasoline is 75% & 25% respectively. This has been the key factor to trigger the global fuel ethanol market in the region.
The demand for ethanol market is anticipated to exhibit major growth in Western Europe, as there has been a major growth of markets & producers for fuel ethanol in countries like France, Germany, and Spain.
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Asia Pacific is likely to experience vast growth over the forecast period mainly because of great growth in the automobile industry and also due to increasing prices of fuel. Automotive sector growth in China, India, and Thailand is expected to fuel the demand for fuel ethanol market in the coming years. Asia Pacific is expected to be the most attractive region of the fuel ethanol market within the forecast period due to growing demand for chemical and automotive industry in emerging economies such as India, Singapore, Vietnam, Indonesia, and China.
Latin America, Middle East, and Africa are likely to experience upright growth over the forecast period. This is mainly attributed to the growing urbanization and industrialization. Brazil attained highest sales of automobiles and stood as the seventh largest producer across the globe. Therefore, this factor is expected to trigger the growth of automotive market which in turn will bolster the growth of fuel ethanol market. Escalating pharmaceutical industry in the Middle East and Africa is anticipated to witness rapid growth for fuel ethanol market. The rules and regulations in Brazil have made it compulsory for the manufacturers to mix up ethanol to automobiles fuels.
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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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This report segments the global fuel ethanol market as follows:
Fuel Ethanol Market: Application Analysis
- Alcoholic beverages
- Chemical feedstock
Fuel Ethanol Market: Region Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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