(MENAFN- Meridian Market Consultants) The most recent published by Reports & Insights termed as “Ethanol Market: Opportunity Analysis and Future Assessment 2022-2030” provides exclusive information about the market, covering in-depth data about future market opportunities and prospects along with the possible challenges. It further mentions recent trends and impact of various factors which affects the growth of Ethanol Market. Moreover, the report also thoroughly states about the leading players competing in the market for the interest of its readers.
The global ethanol market is estimated to reach at a value of US$ 89.8 Bn by the end of 2020 and expected to reach at a value of US$ 141.1 Bn by 2028 with a significant CAGR of 5.8%
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Ethanol Introduction
Ethanol can be perceived as a distinct, colorless, and volatile fluid with a pleasing aroma formed by the natural process of fermentation of sugar, wheat, barley, corn by yeasts. Ethanol is a one-of-a-kind alcohol as it is the only type of alcohol that can be consumed. Also, other than consumption, ethanol also serves its utility for various other purposes such as a disinfectant owing to its bactericidal activity, fuel to power engines, as a solvent and additive as well as used as the basic ingredient in the preparation of various alcoholic beverages. Ethanol has been around as a part of alcoholic beverages for quite a long time, but its usage has diversified a lot further than during the 20th Century.
Ethanol is considered a mind as well as a mood-altering drug with both pleasant and unpleasant effects. Ethanol is processed in the body to distribute energy and does not carry any vitamins, minerals, fats, carbohydrates, or proteins associated with it and as a consequence of this, it directly adds up to malnutrition. Although alcohol is highly rich in energy, stuffing seven calories per gram. In addition to that, Ethanol is one of the most essential renewable fuels playing a major part in the diminution of adverse environmental impacts created by the global utilization of fossil fuels.
Ethanol Market Dynamics
Ethanol, more commonly known as ethyl alcohol, is a pallid and combustible chemical compound and fluid with a congenial taste and odor. It is extremely dissoluble in water and the majority of the organic solution, due to this it is broadly used as a solvent in several different industries across the world. With respect to this, the extensive usage of ethanol as a preservative in the pharmaceutical industry worldwide is one of the major factors that is driving the growth of the global ethanol market.
Ethanol plays a major role in the medical industry as it is used in the form of antidotes and drugs. It is prominently known as a recreational drug, as it is a vital delegate for central nervous system depressants. Also, it is used as a significant component in producing alcoholic beverages, which further escalates its demand all around the world. Ethanol blended with petrol and other exorbitant fossil fuels is observing a continuously ascending demand around the world. By virtue of this, the aviation industry also put to use the possibility to test the ethanol blend and that proved an uprising in fuel innovation. Owing to which, the global ethanol market is expected to witness substantial growth over the forecast period.
In addition, easy accessibility of raw materials like wheat, sugarcane, and corn which are produced in abundance across the world further makes the method of manufacturing ethanol cost-effective. Also notably, countries like India where wheat and sugarcane are yielded in excess also sets out a possibility to replace much exotic crude oil to a huge extent. Attributing to which, the global ethanol market is estimated to grow higher in the forthcoming years.
However, the escalating costs of raw material are one of the factors that may hold back the growth of the global ethanol market to the bounds in the upcoming years. Also, supply chain restraint in conjunction with import restrictions is not likely to be favorable for the healthy growth of the global ethanol market in the near future.
Furthermore, the combination of ethanol is mainly dependent on feedstock like corn, sugarcane, barley, wheat, and many more. which in turn can be influenced by instability in rain or adverse monsoon. Such factors are estimated to act as a restraining factor for the future growth of the global ethanol market. Nevertheless, Ethanol is in demand majorly as a biofuel, a cheap and clean form of energy, which can be produced smoothly, contrary to the gasoline and petrol which are produced in an extremely complex process, which further positively accelerates the growth of the global ethanol market.
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Ethanol Market Segmentation
The global ethanol market is segmented on the basis of source, purity, application, and regions. On the basis of source type, the ethanol market is segmented into Sugar & Molasses Based Ethanol, Grain Based Ethanol, and Second-Generation Ethanol. On the basis of purity, the market is categorized into Denatured and Undenatured. Further, the ethanol market is segmented on the basis of application into Industrial Solvents, Fuel & Fuel Additives, Beverages, disinfectants, Personal Care, and Others.
The research report classifies the global ethanol market based on source, purity, application, and regions.
By Source
Sugar & Molasses Based Ethanol
Grain Based Ethanol
Second Generation Ethanol
By Purity
Denatured
Undenatured
By Application
Industrial Solvents
Fuel & Fuel Additives
Beverages
Disinfectant
Personal Care
Others
By Region
North America
Latin America
Africa
Europe
Asia Pacific
Middle East
Ethanol Market Key Players
The global ethanol market is dominated by United Breweries, Aventine Renewable Energy, AB Miller, Archer Daniels Midland Company, Kirin, Pure Energy Inc., British Petroleum, Cargill Corporation, among others.
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