Market Leader - Bioethanol Market
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 Compound Annual Growth Rate (CAGR) of 14.0% during the forecast year. The growth of this market is attributed to the growing need for energy security by the countries, and the growing concern to reduce greenhouse gas (GHG) emissions from in the transportation industry.
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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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.
The COVID-19 outbreak has also impacted the bioethanol market. A sharp decline in the fuel demand has led to a decline in the demand as well as the prices of bioethanol. The report details the impact of COVID-19 on the bioethanol market.
Related Reports:
Bioethanol Market by Feedstock (Starch based, sugar based, cellulose based), End-use Industry (transportation, pharmaceuticals, cosmetics, alcoholic beverages), Fuel blend (E5, E10, E15 to E70, E75 & E85), and Region - Global Forecast to 2025.
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