Bioethanol Market is Expected to Witness High Growth Owing to Increasing Demand for Clean Fuels
Bioethanol is bio-fuel produced by fermentation of sugar and starch crops including corn, sugarcane, wheat and sorghum. It is mainly used as biofuel in transport fuels such as gasoline. The key advantages of bioethanol are that it is renewable, reduces greenhouse emissions and relies less on petroleum. With rising concerns regarding vehicular emissions and climate change, many countries are promoting greater use of clean fuels such as bioethanol. The growing need for clean, affordable and sustainable fuel alternatives is further driving the demand for bioethanol. The Global bioethanol market is estimated to be valued at US$ 13.7 Billion in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the bioethanol market are CropEnergies, British Sugar, New Generation Biofuels Holdings, Inc., Vivergo Fuels Limited, Butalco GmbH, and Global Green SA. CropEnergies is one of the largest producer of bioethanol in Europe.