Bio-Alcohol Market to Reach Valuation of US$ 419.75 bn by 2031, TMR Report

- Growing popularity of bio-alcohol as a renewable fuel with fewer carbon emissions than conventional sources of fuel such as oil and coal propels the bio-alcohol market

- Prospects of newer applications in agricultural, pharmaceutical, and chemical sectors to open new revenue streams in the bio-alcohol market

ALBANY, N.Y., March 17, 2022 /PRNewswire/ -- The bio-alcohol market is projected to expand at a CAGR of 10% during the forecast period from 2021 to 2031. The use of bio-alcohol in various applications such as transportation fuel, paints, flavor enhancer, chemical intermediate, perfume, and electronic cleaning fuels the growth of the bio-alcohol market.

Bio alcohols are sourced from biological resources or biomass that are in line with various environmental benefits. Bio alcohol is popularly known for its renewable characteristic with fewer carbon emissions, and reduces greenhouse emissions significantly.

Led by the U.S., North America is a key region in the bio-alcohol market. The region is projected to expand at a CAGR of more than 10.3% during the forecast period. Germany held the leading share of the bio-alcohol market in Europe in 2020. Increase in demand for bio-alcohol as a transportation fuel, agro chemical, and chemical intermediate is propelling the bio-alcohol market in Germany. Stringent government regulations for carbon emissions and government subsidies to support the use of biofuels supports the growth bio-alcohol market in Germany.

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China, Japan, India, and some nations from South America are expected to hold significant share of the bio alcohol market in the upcoming years.

Bio-alcohol Market – Key Findings of Report

• Keen players in the bio-alcohol market are entering into newer regions to increase their revenue share of the bio-alcohol market. Manufacturers are adopting contingency measures to minimize the impact on the price of the final product in the event of uncertainties in the availability of raw materials and taxes levied on bio-alcohol products in new regions. This involves engaging in establishing balanced relationship with suppliers and ecosystem partners.
• Bio-alcohols are increasingly being used in the manufacture of cosmetics and pharmaceutical products to serve the rising demand for organic and natural products
• Urgent need to complement conventional fuels with bio-based fuels to serve the incessantly expanding demand with urbanization is creating opportunities in the bio-alcohol market
• Based on source, the corn segment accounted for a leading revenue share of the bio-alcohol market in 2020. Bio-alcohol obtained from corn finds several applications such as in chemical intermediate paints, transportation fuel, perfumes, electronic cleaning, and flavor enhancers. Bio-ethanol produced from corn is used at an industrial level in several developed and developing countries.

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• Transportation application segment is anticipated to account for the leading share of the bio-alcohol market in the upcoming years. Biodiesel obtained from bio-alcohol is close to conventional petrochemical diesel oils that do not require modification in engines. Biodiesel is primarily used in small engines and can be mixed with gasoline or diesel.
• Bioethanol is becoming increasingly popular among other bio-alcohols as it is obtained through fermentation of microorganism and enzymes with starches, sugars, or cellulose. At present, bio-alcohols are used to manufacture textiles, diluents, paints, glues, and perfumes.

Bio-alcohol Market – Growth Drivers

• Advantages of bio-alcohol sourced from biological resources or biomass for their biodegradability, sustainability, and renewable source that are in line with environment conservation initiatives fuels the growth of bio-alcohol market
• Need to complement crude oil based fuels with sustainable fuels to address stringent emission regulations, rising crude oil prices, and increasing energy consumption cements the growth of bio-alcohol market

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Bio-alcohol Market – Key Players

Some of the key players operating in the bio-alcohol market are;

• BASF SE
• VERBIA
• BRASKEM
• Cargil
• Mitsubishi Chemical Corporation
• BP Biofuels
• Valero Energy Corporation
• GODAVARI BIOREFINERIES LTD.
• Arkema
• Vereinigite BioEnergie AG
• DuPont
• DSM
• Raizen
• Genomatica Inc.
• CREMER OLEO GmbH & Co. KG

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The bio-alcohol market is segmented as follows;

Bio-alcohol Market, by Type

• Bioethanol
• Biopropanol
• Biomethanol
• Biobutanol
• Bio-BDO
• Others (Bio-glycerol and Bio-ethylene glycol)

Bio-alcohol Market, by Source

• Sugarcane
• Sugar beet
• Grains
• Corn
• Others (Grains and Bio-waste)

Bio-alcohol Market, by Application

• Transportation Fuel
• Perfume
• Flavor Enhancer
• Paints
• Electronic Cleaning
• Chemical Intermediate
• Pharmaceutical Application
• Agro Chemicals
• Others (Infrastructure and Power Generation)

Bio-alcohol Market, by End-use

• Transportation
• Food & Beverage
• Cosmetics & Personal Care
• Paints & Coatings
• Industrial & Institutional Cleaning
• Chemicals
• Others (Construction)

 Bio-alcohol Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia & CIS
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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