Global Ethanol Market, By Source (Sugar & Molasses Based Ethanol, Grain Based Ethanol, and Second Generation Ethanol), By Purity (Denatured and Undenatured), By Application (Industrial Solvents, Fuel & Fuel Additives, Beverages, Disinfectant, Personal Care, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
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%
Ethanol is a pallid, volatile, renewable and combustible liquid and the only kind of alcohol which can be consumed, made by the natural process of fermentation of sugar, wheat, barley, corn by yeasts. It is used as a major component in most of the alcoholic beverages, which primarily escalates its demand in the global market. Although ethanol has been around as a part of alcoholic beverages for quite a long time, its usage has diversified a lot further that during the 20th Century. Alcohol, as it cannot be stored in the body, must be metabolized by the body to provide energy.
Notably, it doesn’t contain any proteins, minerals, fats, carbohydrates, but it is highly rich in energy, stuffing seven calories per gram. Ethanol acts as a central nervous system (CNS) depressant and affects several neurotransmitter systems within the brain such as gamma-amino-butyric acid (GABA), glutamate, serotonin and dopamine systems. Owing to which, ethanol serves its utility as a preservative in the pharmaceutical industry worldwide, which makes it one of the major factors that is driving the growth of the global ethanol market.
Ethanol holds a crucial role in the medical industry as it is used in the form of antidotes and drugs. Other than that, ethanol also serves as a disinfectant owing to its bactericidal activity as well as an essential fuel to power engines. Attributing to all such factors, the global ethanol market is expected to escalate swiftly over the years to come.
In addition to that, the ethanol market has further observed a brisk growth over the past decade due to swift funding for biofuel by several different regulating bodies, given that biofuel is examined as an environment-friendly substitute for gasoline. Such factors are also playing a positive role in accelerating the demand of ethanol in the global markets, thereby projected to boost the growth of the global ethanol market in the forthcoming future.
However, the production of ethanol is completely dependent on the yield of sugarcane, wheat, barley, and many others, which in turn can be affected by the uncertain weather, which may ultimately affect the production of ethanol across the world. Furthermore, the increased costs of raw material can also restrain the growth of the global ethanol market over the coming years.
MMC Study identifies some of the key participating players in the ethanol market globally are 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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