Bioethanol is a renewable energy resource manufactured by sugar fermentation and chemical process. Bioethanol is used as an alternative to conventional fuels owing to its high octane value and lower emission rates of greenhouse gases. Growing awareness of biofuels is expected to boost the market growth.
The corn based ethanol segment in the global bioethanol market is estimated to account for majority revenue share in 2017, and this segment is projected to be US$ 27,572.2 Mn in 2017 and is estimated to grow at a CAGR of 5.3% from 2017 to 2026.
The E15 to E70 blend segment is expected to be US$ 29,637 Mn in 2017, and is expected to continue its dominance during the forecast period.
The bioethanol market in North America is estimated to account for major revenue share of US$ 24,737.0 Mn in 2017, while the market in Asia Pacific is expected to register a CAGR of over 5% in next ten years.
Key players in the global market include Archer Daniels Midland Company, POET LLC, Green Plains, Valero Energy Corporation, Flint Hills Resource, Abengoa Bioenergy SA, Royal Dutch Shell plc, Pacific Ethanol, Inc., Petrobras, and The Andersons.