Blockchain Technology Is Fueling Growth Of The Ethanol Market

 

Ethanol is an alcohol produced by fermentation of sugars that are present in plants such as wheat, corn, sugarcane etc. It is used as biofuel and is also blend with gasoline as an alternative fuel. Ethanol's use helps reduce carbon emissions harmful to environment.

The global Ethanol Market is estimated to be valued at US$ 114.02 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:
One of the biggest trends in ethanol market currently is increased adoption of blockchain technology. Blockchain allows tracking ethanol across the supply chain right from the source of raw materials to the fuel pumps. This ensures visibility and transparency in supply chain. Farmers and producers can track their shipment details and payments. Consumers can check authenticity and origins. Blockchain is improving trust and efficiency in ethanol market.

Segment Analysis
The global ethanol market is dominated by the fuel ethanol segment, which accounted for over 80% of the total market share in 2023. Ethanol fuel or ethyl alcohol is primarily used as a biofuel and fuel oxygenate which is produced by fermentation of sugars and is most commonly used in the form of ethanol-gasoline blend as car fuel. The fuel ethanol segment is expected to remain the dominant segment during the forecast period as well, driven by the growing demand for cleaner, greener and renewable fuels along with strict emission regulations around the world to curb air pollution.

Key Takeaways
The global ethanol market is expected to witness high growth, exhibiting CAGR of 3.9% over the forecast period of 2023 to 2030, due to increasing demand for cleaner fuels and stringent emission regulations mandating use of biofuels and ethanol-blended fuels.

The North American region dominated the global ethanol market in 2023, accounting for over 45% of the total share. The US ethanol production capacity is estimated to remain the highest in the world during the forecast period, supported by the US Renewable Fuel Standard program requiring biofuel blending rates. Brazil and Canada are other major producers of ethanol in the Americas.

The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period due to growing blending mandates in countries like China and India. China, the largest auto market worldwide, has mandated use of 10% ethanol-blended gasoline across major cities and provinces to curb rising air pollution levels.

Key players operating in the ethanol market are Archer Daniels Midland Company (ADM),Valero Energy Corporation,Green Plains Inc.,Flint Hills Resources LP,POET LLC. The market remains highly consolidated with the top five players accounting for over 40% share. Leading players are focusing on capacity expansions, investments in advanced technologies and mergers & acquisitions to strengthen their position in the global ethanol industry.

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