Bioethanol Global Market 2024 To Reach $72.65 Billion By 2028 At Rate Of 11.8%

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, July 17, 2024 /EINPresswire.com/ -- The bioethanol market has experienced robust growth in recent years, expanding from $41.55 billion in 2023 to $46.5 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to increased demand for clean energy sources, increasing fuel costs, growing demand from the automotive and transportation sectors, and emerging market growth.

Strong Future Growth Anticipated
The bioethanol market is projected to grow strongly, reaching $72.65 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to government support, global population growth and urbanization, a shift to alternative sources of power generation, favorable regulations for blending ethanol, increasing research and development (R&D) activities, and increasing global awareness to reduce greenhouse gas emissions.

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Growth Driver Of The Bioethanol Market
The rise in environmental concerns is expected to propel the growth of the bioethanol market going forward. Environmental concerns refer to the worry about the quality of air, water, and soil in the natural environment. The use of bioethanol has had a positive effect on the environment, which diminishes the emission of exhaust gases and will improve the work of transport facilities and energy safety.

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Major Players And Market Trends
Key players in the bioethanol market include CropEnergies AG, Valero, Green Plains, Archer-Daniels-Midland Company, Tereos SCA, Raízen, Cristalco, Abengoa Bioenergy, POET, Alto Ingredients, Bajaj Hindusthan Sugar Ltd., Balrampur Chini Mills Ltd., Dalmia Bharat Sugar and Industries Ltd., Shree Renuka Sugars Ltd.
Major companies in the bioethanol market are focusing on new technologies and developing technologically advanced products to grow in the market.

Segments:
1) By Type: Corn-Based Ethanol, Sugarcane-Based Ethanol, Cellulosic Ethanol, Other Types
2) By Blend: E10, E20 And E25, E70 And E75, E85, Other Blends
3) By Production Technology: Dry Mill, Wet Mill
4) By Application: Automotive And Transportation, Food And Beverage, Pharmaceutical, Cosmetics And Personal Care, Other Applications

Geographical Insights: North America Leading The Market
North America was the largest region in the bioethanol market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of bioethanol.

Bioethanol Market Definition
Bioethanol refers to the processing and manufacturing of ethanol from agricultural materials (like corn or sugar cane) and is utilized as an additional fuel source. Bioethanol is an alcohol created by microbial fermentation mostly from carbohydrates produced in plants that contain sugar or starch, such as corn, sugarcane, sweet sorghum, or lignocellulosic biomass.

Bioethanol Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Bioethanol Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on bioethanol market size, bioethanol market drivers and trends, bioethanol market major players, bioethanol competitors' revenues, bioethanol market positioning, and bioethanol market growth across geographies. The bioethanol market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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