Ethanol, commonly known as ethyl alcohol, is a clear, colorless liquid with an agreeable odor and taste. It is a renewable, alcohol fuel made from plant such as starch based, sugar based and cellulosic feedstock. . It is produced by fermenting sugars with yeast as well as through the hydration of ethylene. It is extensively used as a preservative in pharmaceutical industries as well as a basic solvent intended for human consumption or contact, including scents, colorings, medicines and flavorings. Europe, Brazil and the US are the major manufacturers and the consumers of ethanol. Ethanol has a woeful effect on the central nervous system and for its psychoactive effects, it is contemplated as a drug. However, it reduces oil dependency and the greenhouse gas emissions.
According to a report published by Sucden, “Over the last 10 years, the ethanol market has raised rapidly, mainly due to the funding of national governments for biofuels as an environment-friendly gasoline substitute.”
According to the report by Sucres and Denrées (Paris), nearly 110 billion liters of ethanol is consumed globally every year. U.S. and Brazil together produces 85% of the total ethanol. Growth of ethanol market in Asia Pacific is attributed to increasing consumption of biofuels. According to International Energy Agency, the biofuel market in road transport application is estimated to expand at a CAGR of 3.9% by 2020. Energy Independence and Security Act, 2007 and Energy Policy Act, 2005 demands blending of renewable and has set a goal of 36 billion gallons of biofuels consumption by 2022.
Global Ethanol Market Taxonomy
The global ethanol market is classified on the basis of the following segments:
Prevalent Scenario in Ethanol Market
The key features that drives the need for ethanol includes its low- carbon initiatives, octane demand, efforts to replace Methyl tert-butyl ether (MTBE) and monetizing carbon. The environmental concerns associated to greenhouse emissions have resulted in the use of ethanol to manufacture transport fuels as it is biodegradable. Use of ethanol is prevalent, and over 97% of gasoline in the U.S. contains some ethanol. Asia-Pacific market is estimated to grow due to growing uses of ethanol in industrial chemicals to manufacture acetic acid and ethyl acetate and also in the cosmetic sectors. Increased applications of ethanol in biofuels, industrial, pharmaceuticals, cosmetics, food & beverages sectors and in the glazing agents in bakery and confectionery lead to burgeoning growth of the ethanol market. . Though, increase in substitute for rise in price of raw material are such factors that are affecting the demand for global ethanol market. High latent heat of vaporization and remixing issue with hydrocarbon causes cold engine which is another restraints to market growth. However, the producers have started blending ethanol biofuels with petroleum diesels, which is likely to boost product demand. Ethanol associations and the government are incessantly working in coordination to fuel the growth of ethanol market.. RFA in partnership with federal government and the industry key players are working to innovate new applications of ethanol and minimize the difficulties related to trade of ethanol and enhance the market growth globally.
The global ethanol market is highly fragmented due to the participation of many established and emerging players in the ethanol industry. Major players involved in the market include Archer Daniels Midland Company (U.S.), Cargill, Inc. (U.S.), Grain Processing Corporation (U.S.), Ace Ethanol LLC (USA), Advanced BioEnergy, LLC (USA), Chemtex Group (USA), MGP Ingredients (U.S.), Flint Hills Resources LP (USA), Copersucar SA (Brazil), Adkins Energy LLC (USA).
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