Fuel Ethanol Market to reach US$ 130.56 billion by the year 2027
Added: (Wed May 18 2022)
Pressbox (Press Release) -
Market overview:
Fuel Ethanol Market has been valued US$ 87.16 billion in the year 2021 and it is estimated to reach US$ 130.56 billion by the year 2027, with a CAGR of 5.59% from 2022 to 2027. Fuel Ethanol is a renewable fuel made from various plant materials collectively known as "biomass." More than 98% of U.S. gasoline contains ethanol, typically E10 (10% ethanol, 90% gasoline), to oxygenate the fuel, which reduces air pollution; these are the main factors that have considerably increased the demand for the Fuel Ethanol in the market, thereby driving the huge growth of the Fuel Ethanol market in the upcoming years
Market Drivers and Restrains:
The main factors that have considerably increased the demand for the Fuel Ethanol in the market is mainly due to the rising requirements for minimizing carbon emissions from gasoline in the automotive & transportation industry is likely to boost the usage of ethanol as a bio based additive over the next couple of years. Ethanol is produced using bio based or renewable raw material feedstock. The types of feedstock are sugar-based, cellulosic, and starch-based. Starch-based category has taken the lead in the worldwide market, and will experience growth at a rate of 5.8% from 2020 to 2027. Starch-based items are produced using raw materials that include wheat, corn, cassava and barley. Majority of these products contain significant starch content and help bring down greenhouse gas emissions to a huge extent; these are the main factors that have considerably increased the demand for the Fuel Ethanol in the market, thereby driving the huge growth of the Fuel Ethanol market in the upcoming years
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Report is segmented as:
Fuel Ethanol Market is segmented on the basis of by:
By Product (Sugar-based, Starch-based and Cellulosic),
By Application (Flexible fuel vehicles, Conventional Fuel Vehicles, and Others)
Geographical Segmentation:
Fuel Ethanol Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Fuel Ethanol is due to the Rapid urbanisation and rise in the disposal income these are the main factors that have considerably increased the demand for the Fuel Ethanol in the North America, followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Fuel Ethanol Market
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Impact of COVID-19 on Market
Covid -19 pandemic has affected almost every industry, and the long-term effects are projected to impact growth of Fuel Ethanol during the forecast period. Covid-19 pandemic has impacted huge on the sales revenue of Fuel Ethanol market, Due to the government restrictions like lockdown in many countries has stopped the production of products by the manufacturing companies. Companies have started opening their manufacturing units after taking all the necessary preventive measures. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus.
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