Research Nester has released a report titled “Bioethanol As A Biofuel Production Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the bioethanol as a biofuel production market in terms of market segmentation by feedstock type, by fuel blend, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The bioethanol as a biofuel production market is segmented by end user into transportation, power generation and residential, out of which transportation segment is anticipated to have largest market share on account of growing sales of motor vehicles around the globe. The global sales of vehicles registered a peak of 95,634,593 numbers as of 2018, in the statistics provided by International Organization of Motor Vehicle Manufacturers (OICA).
The bioethanol as a biofuel production market is anticipated to record a significant CAGR during the forecast period, i.e. 2019-2027. Shifting demand towards adoption of renewable energy sources and rising concerns for the environment by nations around the globe, are some of the factors anticipated to support the growth of the bioethanol as a biofuel market.
Additionally, the concern amongst nations to keep pace with the Sustainable Development Goals (SDGs), as proposed in the United Nations Development Program by its members is estimated to promote the demand for biofuels throughout the forecast period. According to the International Energy Association (IEA), production of biofuels for the purpose of transport, expanded by 7% y-o-y in 2018, which falls short of the sustained 10% output growth per year needed until 2030, to align with the Sustainable Development Scenarios (SDS).
Regionally, the bioethanol as a biofuel production market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is expected to have largest market share on the back of growing consumption of fuel in the region. In a statistics provided by Center For Sustainable Systems, University of Michigan, stated that over 98% of U.S. gasoline contained ethanol and 10% of U.S. vehicle fuel consumption (by volume) constituted ethanol. Additionally, the growth of the market in the region is fuelled by rapidly growing automotive industry. According to International Organization of Motor Vehicle Manufacturers (OICA), total vehicle sales in the United States grew from 5,709,431 numbers in 2009 to 11,314,705 numbers in 2018.
Furthermore, availability of arable and fertile agricultural lands for the farming of feedstock required in the production of bioethanol, are the factors estimated to support the growth of the market share of Latin America, Europe and Asia-Pacific region. The statistics of the Food and Agriculture Organization of the United Nations (FAOSTAT) stated that agricultural land in Asia constituted to around 1,663,893 thousand hectares by the year 2016.
Rising Need Among Nations For Keeping Pace With Sustainable Development Goals (SDGs)
The International Energy Association studied the production statistics of biofuel amongst nations associated with the SDGs, and stated that the output growth is not at all on track to align with the Sustainable Development Scenario. It predicts the forecast annual production growth in-between 2019-2024 in United States to be 1% whereas the annual production growth needed to meet Sustainable Development Scenarios (SDS) in-between 2019-2030 is 6%.
With growing consumption of energy throughout the globe, the statistics form an alarming concern for the production of bioethanol as a biofuel, thereby contributing significantly towards the growth of the market.
However, the concern for the debate of farmer’s willingness to choose between farming of food and fuel crops in order to balance the demand of both the commodities and sustain itself from shortfall of food crops around the globe, are expected to operate as key restraints to the growth of the bioethanol as a biofuel production market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the bioethanol as a biofuel production market, which includes company profiling of CropEnergies AG (ETR: CE2), Abengoa (BME: ABG), Praj Industries (NSE: PRAJIND), Archer Daniels Midland Company (NYSE: ADM), Pacific Ethanol, Inc. (NASDAQ: PEIX), Vivergo Fuels Limited, Lesaffre, Green Social Bioethanol, St1 Oy, and Green Future Innovations, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the bioethanol as a biofuel production market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.