Ethanol Market - Forecast(2021 - 2026)
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...