Ethanol Market size is forecast to reach $11.7 billion by 2025, after growing at a CAGR of 7.5% during 2020-2025. Ethanol is a well-known alcoholic beverage, mainly found in wine, beer, cider, spirits, and ale. Ethanol also used in hand sanitizers. Currently, an outbreak of respiratory disease caused by a novel coronavirus that was first detected in Wuhan City, Hubei Province, China, and that has now spread globally. The virus named COVID-19 demonstrated the capability to rapidly spread, leading to significant impacts on healthcare systems and causing societal disruption. Owning to this, the increasing demand of alcohol-based sanitizer lead to increase the consumption of ethanol, which leads the market growth.
Key Takeaways
- Technology innovations along with low cost feedstock is expected to drive the growth of the market.
- Th growth of ethanol fuel in order to reduce the emissions have increased the demand of ethanol in automotive industry.
- The COVID-19 outbreak has increased the demand of alcoholic hand sanitizers as alcohol-based sanitizers are more beneficial as compare to organic sanitizer. The growing demand of ethanol with 94.9% percent of composition in hand sanitizers is tends to increase the growth of the market, specifically in the year 2020 and 2021.
- However, other core industries have impacted with great crisis in present times due to lockdown across the globe. But the healthcare sector comes up with tremendous growth, and ethanol have got its perfect close to grip their position in the market.
- Request Sample
By Application - Segment Analysis
The market is segmented into application which includes fuel, feedstock, and hand sanitizer. The fuel & fuel additives segment dominated the market and is likely to grow during the forecast period, owing to increased practice of ethanol blending with gasoline across the world. Ethanol is gaining support for application as fuel, owing to its renewable source and eco-friendliness with lower emissions. Ethanol has a higher-octane number than gasoline, providing premium blending properties. In addition, the COVID-19 outbreak has become the most beneficial opportunity for the growth of ethanol. Currently alcoholic hand sanitizer in an emerging segment, the growing trend of vanishing virus using hand sanitizer leads the higher demand of ethanol in the year 2020 and 2021, and thus leads the market growth.
By End User - Segment Analysis
The end user segment includes transportation, energy industry, chemicals, healthcare, and others. Among these, transportation segment includes the highest share in the market. The growing environmental concern and the reduction of emission have become the major factor to increase the growth of the market. In addition, healthcare is resulting with tremendous growth in the year 2020 and 2021. The growing impact of COVID-19 among the population have increased the demand of the demand of hand sanitizer, owning to this, the consumption of ethanol is getting increased rapidly, which leads the market growth.
Geography - Segment Analysis
North America emerged as the leading regional market owing to the use of ethanol as fuel instead of conventional fuels. Stringent government regulations promoting bio-fuel usage to limit environment pollution is expected to drive market growth in the region. Asia Pacific market is expected to grow at significant rate owing increasing demand from automotive industry. Rising environmental concerns along with maturing oil & gas wells are expected to drive regional market growth.
"We also publish more than 100 reports every month in
"Chemicals and Materials", Go through the Domain if there are any
other areas for which you would like to get a market research study."
Comments
Post a Comment