Business

Bio-Alcohol Market to Witness Exponential Rise in Revenue Share During the Forecast Period 2018 – 2026

Global Bio-Alcohol Market was valued US$ 7.2 Bn in 2017 and is anticipated to reach US$ 13.5 Bn by 2026 at a CAGR of about 8.17 % during a forecast period. Global Bio-Alcohol market is segmented by type, by raw material, by application and by region. In terms of type, Bio-Alcohol market is segmented into Bioethanol, Biomethanol, Biobutanol and Butanediol. Grains, Sugarcane, Industrial beets, Bio-waste and others are the raw material of the Global Bio-Alcohol market. Transportation, Power Generation, Medical and Others are application segment of Bio-Alcohol market. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

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Bio-Alcohol market is gaining traction owing to increasing crude oil prices, growing concern over greenhouse gas emissions, and the need for alternative renewable source of energy across the globe. Bio-alcohol is a direct substitute for gasoline which is used as fuel in transportation, energy, and Power Generation sectors. It is produced by fermentation of sugars derived from raw materials such as grains, sugarcane, Power Generation beets, bio-waste, etc. Bio-ethanol is the most common and the largest product type of bio-alcohol in terms of value and volume consumption.

Bio-ethanol is the most common and the largest product type of bio-alcohol in terms of value and volume consumption. The transportation sector accounts for a major share of approximately 15% to 20% of the world’s CO2 emission, therefore bio-ethanol is being largely consumed by the transportation sector to address the rising GHG emission as its use helps reducing CO2 emissions significantly.

Based on raw materials, grains segment dominated the market in 2017 owing to its widespread applications in food and feed industries.

Based on application, the transportation led the market, in terms of value in 2017. This is primarily due to the growing transportation industry coupled with increasing demand for bio-alcohol particularly bio-ethanol as a fuel from transportation industry.

Asia Pacific is identified as the fastest growing region, owing to increasing production of bio-alcohol leading to lower purchase price, increasing demand from economies such as China, Thailand, and India, and growth in automotive industry.

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BASF SE, BioAmber Inc., BP Biofuels, Cargill Inc., Cool Planet Energy Systems Inc., Fulcrum BioEnergy Inc., Genomatica Inc., Harvest Power Inc., Mitsubishi Chemical Corporation, Myriant Corporation, Raizen S.A., Valero Energy Corporation, Mascoma LLC, SGBio, Abengoa S.A., Gevo Inc., Butamax Advanced Biofuels LLC, Red Rock BioFuels LLC, Ginkgo Bioworks, Maverick Biofuels Inc., Algenol Biofuels, and ZeaChem Inc. DuPont, Fulcrum BioEnergy Inc. are key players included in the Bio-alcohol market.

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