The global bioethanol market size is projected to grow from USD 33.7 billion in 2020 to USD 64.8 billion by 2025, at a CAGR of 14.0%, from 2020 to 2025. The market is projected to grow as many countries have changed their policies regarding the fuel used in transportation and have mandated the use of bioethanol in the fuel blends. The mandates are passed to curb carbon emission occurring from pure fuel and reduce crude oil dependency of the countries.
The bioethanol market has been dominated by large players, such as the Archer Daniels Midland (US), POET LLC (US), Green Plains (US), Valero Energy Corporation (US), Flint Hills Resources (US), Pacific Ethanol (US), Tereos (France), The Andersons Inc. (US), Raizen (Brazil), Sekab Biofuels & Chemicals AB (Sweden). These players have adopted various growth strategies, such as expansion, divestment, merger & acquisition, and partnership/agreement, to increase their market shares and improve their distribution channel.
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The transportation end-use industry led the bioethanol market in 2019 in terms of value and volume.
The transportation end-use industry led the bioethanol market in 2019, in terms of value and volume. Bioethanol is considered as an alternative fuel for the vehicles. It is mixed with crude oil in certain percentages to make the fuel burn more efficiently, and reduce GHGs, such as carbon monoxide and carbon dioxide. The use of bioethanol as an alternative fuel also reduces the oil import burden for some countries. Thus, countries are mandating regulations and laws to use bioethanol in transportation vehicles.
APAC projected to be the fastest-growing bioethanol market.
APAC is projected to lead the bioethanol market, in terms of both value and volume from 2020 to 2025. The region is one of the largest crude oil importers in the world. Many countries in the region aim to achieve energy security by reducing their dependency on crude oil imports. Thus, they have mandated the use of bioethanol fuel blends in all vehicles. This, in turn, increases the demand for bioethanol in the APAC region.
Merger & acquisition and agreement combined accounted for the largest share of all the strategic developments that took place in the market between February 2016 and April 2020. Key players, such as Archer Daniels Midland (US), POET LLC (US), Green Plains (US), Flint Hills Resources (US), adopted these strategies to strengthen their presence in the bioethanol market.
In April 2020, Valero Energy Corporation started the production of hand sanitizers at its Iowa ethanol plant, in response to the shortage faced by the US due to the COVID-19 pandemic. It will distribute the sanitizers to communities surrounding the plants and local hospitals.
In June 2018, Archer Daniels Midland Company (ADM) (US) and DuPont (US) signed an agreement to develop, produce, and market cellulose enzymes for operators of grain-based ethanol plants.
In October 2019, The Andersons Inc (US) and Marathon Petroleum Corporation (US) formed a new entity, The Anderson Marathon Holdings LLC, under which, it operates four ethanol plants with a total capacity of 405 million gallons.
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