Global Bioethanol Market 2018-2022
Bioethanol is produced by the fermentation of carbohydrates and organic feedstocks. Some of the common feedstocks that are used to produce bioethanol are starch, sugar, and cellulose. Corn, sugarcane, wheat, and sugar beet are some of the key food-based sources that are used as feedstocks.Technavio’s analysts forecast the global bioethanol market to grow at a CAGR of 5.89% during the period 2018-2022.Covered in this report The report covers the present scenario and the growth prospects of the global bioethanol market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Bioethanol Market 2018-2022
Technavio recognizes the following companies as the key players in the global bioethanol market: Archer Daniels Midland, BP, Green Plains, POET, Royal Dutch Shell, and VALERO ENERGY CORPORATION.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rising investments in bioethanol sector. To meet the rising need for developing the next generation of biofuels, private organizations and governments across the globe are supporting industries through special loans and grants for several biofuel production projects.”
According to the report, one driver in the market is increasing demand for the continuous supply of clean fuel. To reduce the level of carbon emissions, several commercial industries are preferring the adoption of alternative fuels including biofuels such as bioethanol.
Further, the report states that one challenge in the market is fluctuation in the prices of crude oil. Crude oil products such as diesel and gasoline are the primary substitutes for bioethanol. The unexpected changes in the prices of crude oil have led to a steep decrease in oil trading prices.
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