Cellulosic Ethanol Market to Expand at 5.6% CAGR: Reports and Insights Deliver Thorough Insights and Forecasts
Reports and Insights deliver key insights on the cellulosic ethanol market. In terms of revenue, the Cellulosic Ethanol Market is estimated to expand at a CAGR of 5.6% during the forecast period, owing to numerous factors, regarding which Reports and Insights offer thorough insights and forecasts in its report on the cellulosic ethanol market care market.
Cellulosic ethanol, the second generation of biofuel, is produced from lignocellulosic feedstocks such as municipal solid waste, mixed biomass, agricultural and forestry waste, and energy crops. Cellulosic ethanol is a suitable substitute for corn-based ethanol. The fact that cellulosic ethanol is produced from waste biomass and non-food crops is its main advantage. It does not endanger food security or biodiversity, in contrast to conventional biofuels. Additionally, this fuel offers higher energy efficiency and is more environmentally benign than standard biofuel. The positive government regulations and policies of the European Union and the United States also drive the cellulosic ethanol market. But, the market hasn’t yet shown a discernible growth rate due to the high initial cost and complexity of producing cellulosic ethanol.
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Market Report Stance:
The objective of this report on the cellulosic ethanol market is to discuss market dynamics, including market drivers, market restraints, cellulosic ethanol market opportunities for the major players, cellulosic ethanol market trends, market segmentation outlook, regional outlook, cellulosic ethanol market size, market forecast, market share, as well as the major players operating in the cellulosic ethanol market.
Cellulosic Ethanol Market: Dynamics
The manufacture of cellulosic ethanol uses agricultural plant waste such as maize stover and straw, lignocellulosic raw materials such as wood chips, energy crops such as switchgrass and miscanthus, as well as several other by-products of tree care and lawn care. As a result, cellulosic ethanol is more affordable than other types of bioethanol. The use of locally accessible feedstock reduces reliance on fossil fuels, and as a result, the manufacture of cellulosic ethanol helps to promote economic growth. A reduction in the import of fossil fuels will help to reduce both the budget deficit and the trade deficit.
The growing market for electric vehicles
As the use of electric vehicles rises, it is anticipated that the worldwide market for cellulosic ethanol will soon experience constraints. Recent years have seen a surge in the sales of electric vehicles, and the coming years should see this trend continue. The International Energy Agency estimates that in 2020, there were more than ten million electric vehicles on the road worldwide, a 43% increase from 2019. The market for electric vehicles worldwide is increasing. The demand for fossil and bioethanol fuels would thereafter decline. As a result, it is anticipated that as the use of electric vehicles increases, the bioethanol market will soon become stagnant.
Easily accessible feedstock and cellulosic ethanol’s capacity to reduce greenhouse gas emissions and oil dependence are two other important factors driving the market’s expansion. Throughout the forecast period, the worldwide cellulosic ethanol market is expected to rise as a result of greater technological advancements and significant investments in R&D efforts.
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Cellulosic Ethanol Market: Regional Stance
The geographical extension of the global cellulosic ethanol market is spread through North America, Europe, Asia Pacific, Africa, the Middle East, and Latin America.
The highest market share in 2021 belonged to North America.
With a market share of more than 35% in the world for cellulosic ethanol in 2021, North America is anticipated to maintain this trend over the projected period. The rising demand for clean biofuel and the affordable availability of feedstocks are credited with driving expansion in the area. The top five producers of bioethanol worldwide are the United States, Brazil, China, India, and Canada.
Europe is anticipated to hold a sizable market share over the projected period as a result of growing environmental concerns and regional government initiatives.
Cellulosic Ethanol Market: Key Players
Abengoa, Aemetis, Inc., Alliance Bio-Products, Inc., Beta Renewables, E.I. du Pont de Nemours and Company, Enerkem Inc., GranBio Group, Iogen Corporation, Novozymes A/S, POET – DSM Advanced Biofuels LLC, Praj Industries, and Raizen Energia are the foremost players in the global cellulosic ethanol market.
Cellulosic Ethanol Market: Segmentation Stance
Data for growth projections and estimates are included in this study for the Feedstocks, Applications, and Regional segments.
- By Application:
Heating
Power generation
Transportation
Others
- By Feedstock:
Agricultural Residue
Energy Crops
Forest Residue
Municipal Solid Waste (MSW)
Others
- By Region:
North America
Latin America
Asia-Pacific
Europe
Middle East
Africa
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