According to the recent report by IMARC Group, titled “ Bio-Alcohols Market Share Bio-Alcohols Market Share: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global bio-alcohols market grew at a CAGR of about 7% during 2014-2019 and expects the market to continue its moderate growth during the next five years.Bio-alcohols are eco-friendly chemicals manufactured by the action of microorganisms and enzymes during the fermentation of starches or sugars. They are mainly used as fuels due to their properties like high energy density and combustible nature, along with low volatility and viscosity.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Bio-Alcohols Market Trends:
Bio-alcohols are gaining traction worldwide due to depleting non-renewable resources and the increasing gap between fuel supply and demand. This can be accredited to the inflating income levels and improving standards of living, which have increased the sales of automobiles, in turn, creating a high strain on the environment. Moreover, growing environmental concerns have augmented the demand for biofuels as they offer higher-octane fuel and leave a smaller carbon footprint in comparison to crude oil-based fuels.
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Global Bio-Alcohols Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
BASF SE, Braskem (Odebrecht S.A.), Cargill Incorporated, E.I. Du Pont De Nemours & Co., Fulcrum BioEnergy Inc., Genomatica Inc., Harvest Power Inc., Koninklijke DSM N.V., Mascoma LLC (Lallemand Inc.), Mitsubishi Chemical Corporation, PTT Global Chemical Public Company Limited and Valero Energy Corporation.
The report has segmented the market on the basis on region, product type, raw material and application.
Breakup by Product Type
Bio-Methanol
Bio-Ethanol
Bio-Butanol
Bio-BDO
Others
Breakup by Raw Material:
Grains
Sugarcane
Industrial Beets
Biowaste
Others
Breakup by Application:
Transportation
Construction
Medical
Power Generation
Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom,Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico,Others)
Middle East and Africa
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