Pune, India -- (SBWIRE) -- 04/24/2019 -- The report on Bioethanol Market by raw material (sugar, starch, cellulose-based), blend (E5, E10, E15 to E70, E75 to E85), end-use industries (transportation, alcoholic beverages, pharmaceuticals, cosmetics, chemical) trends analysis and forecasts up to 2024 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the global bioethanol market is projected to grow at a CAGR 4.2% in terms of value over the period of 2018-2024. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market.

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Rising Environmental Related Concerns Benefits the Bioethanol Market in Upcoming Years

The transportation vehicles are one of the major pollution contributors as they produce a significant amount of carbon monoxide, nitrogen oxides and other pollutants according to the EPA (U.S. environmental protection agency sets National Ambient Air Quality Standards (NAAQS) for six common air pollutants that include Carbon Monoxide, Lead, Nitrogen Dioxide, and others. Thus, people are shifting towards ethanol based cars which in turn would help the bioethanol market.

The environmental related concerns are rising among the population across the world which creates the demand for bioethanol products worldwide. The fuel produced from the crops is not only used for the transportation purpose, but it also used in power generation, chemical manufacturing, cogeneration systems, cosmetics industries, and others as they are available easily and provide clean burning which is driving the growth of bioethanol market. However, the growing adoption of hybrid and electric vehicles can hinder the growth of the market. Moreover, ongoing research and development to introduce the new crops for bioethanol production are likely to serve more opportunities for the bioethanol market in upcoming years.

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North America Accounts for a Major Share in Terms of Consumption and Production of Bioethanol

North America accounts for a major share of the global bioethanol market and Asia Pacific is growing with the highest CAGR. In the North America region, various countries such as the U.S., the government have some stringent environment related regulation as result bioethanol is used as an alternative to the traditional fuel. Furthermore, the technological advancements and the easy availability of the raw products for bioethanol are likely to escalate the growth of bioethanol market in this region. Moreover, presence of major agriculture countries such as India & China and the availability of the land for the production of corn, wheat crops, sawdust, sawdust, cordgrasses and other are driving the market of biodiesel in the Asia-Pacific region.

China is Rapidly Shifting from Coal and Oil to Cleaner Bioethanol

China is rapidly shifting from coal and oil to cleaner bioethanol as an alternative fuel for transportation and for energy production in July 2018. In China, for nine consecutive days, the 5.6 million inhabitants of China's Qinghai Province, and their factories and municipal lighting did not rely on coal-fired electricity but on clean energy.

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Report Highlights:

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global bioethanol market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of bioethanol market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the bioethanol market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the bioethanol market to understand the present and future trends in this market and formulate their strategies accordingly.