With the emergence and long-term Impact of COVID-19, Global Cellulosic Ethanol Market to reach USD 64.03 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Cellulosic Ethanol Market is poised to raise up to USD 64.03 Billion by 2030. Cellulosic Ethanol is a second-generation biofuel made from lignocellulose feedstock such as agricultural and forest waste, mixed biomass, energy crops, and municipal solid waste. Cellulosic ethanol is emerging as a viable alternative to corn-based ethanol. The fact that cellulosic ethanol is made from non-food crops and its main advantage is waste biomass. The increase in demand for renewable and sustainable energy sources, the increased need to decrease greenhouse gas emissions, and the introduction of government policies and incentives that support the use of biofuels are driving the cellulosic ethanol market statistics. Several factors, including greater urbanization, higher energy use, and increased environmental concerns, are expected to promote global cellulosic ethanol use. Various clean air (clean air act) and GHG (greenhouse gas) reduction regulations, among other factors, are projected to play an important part in the industry’s growth.
Geographically, the global Cellulosic Ethanol market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the rising demand for clean biofuel and the inexpensive supply of feedstock. Furthermore, the growing number of cars in the North American area drives market growth. Europe is expected to grow significantly during the forecast period, owing to the heightened environmental concerns and increasing government actions in the region. According to the International Energy Agency in 2021, the European Union’s Fit for 55″ package contains a recommendation for a transportation related GHG intensity standard that would treble the current transportation related renewable energy target for transport of 14% by 2030.
The global Cellulosic Ethanol market is highly competitive owing to the presence of several key manufacturers such as BlueFire Renewables Inc., GranBio, DuPont, Novozymes, Alliance Bio Energy Plus, Aemetis, Inc., Enerkem, POET-DSM Advanced Biofuels, logen Corporation, Prai Industries, and others.
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Global Cellulosic Ethanol Market Size study & Forecast, by Feedstock (Crop Residues, Wood Residues, Dedicated Energy Crops, Others) by Process (Dry Grind, Wet Mill, Others) by Application (Gasoline, Detergent) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Cellulosic Ethanol Market is anticipated to grow with a healthy growth rate of more than 37.2% over the forecast period 2023-2030.
- In the Feedstock segment, Dedicated Energy Crops emerged out as the leading market segment in 2022.
- In the Process segment, Dry Grind emerged out as the leading market segment in 2022.
- In the Application segment, Gasoline emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth rising demand for clean biofuel and the inexpensive supply of feedstock.
- Europe is expected to grow at higher rate followed by North America during 2022-2030.
Bizwit Research & Consulting has considered following segments for the study
- Crop Residues
- Wood Residues
- Dedicated Energy Crops
- Dry Grind
- Wet Mill
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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