Cellulosic Ethanol Market Share, Size, Trends, Industry Analysis Report, By Feedstock (Agricultural Residue, Forest Residue, Energy Crops, and Municipal Solid Waste); By Application; By End-Use, By Region; Segment Forecast, 2023-2032
- Published Date:Jun-2023
- Pages: 115
- Format: PDF
- Report ID: PM3310
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global cellulosic ethanol market was valued at USD 885.82 million in 2022 and is expected to grow at a CAGR of 39.0% during the forecast period. The tremendous increases in the prices for conventional fuels, growing carbon dioxide emissions from a variety of fuels used in transportation, and increasing usage of coal for energy needs, which causes chemicals like ethyl benzene, xylene, benzene, & toluene, are a few factors impacting the market growth. In addition, several current and past government regulations towards the increasing production of cellulosic ethanol production for use as feedstock, gas, fuel, power source, and medical purposes, along with the growing integration of advanced technology in the manufacturing process, are also likely to contribute significantly towards the global market growth.
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For instance, in October 2022, Honeywell International introduced new ethanol-to-jet-fuel processing technology enabling sustainable aviation fuel production from cellulosic, corn-based, and sugar-based ethanol. The technology can lower greenhouse gas emissions by about 80% to meet SAF production targets.
Moreover, phasing out of conventional fuel-based vehicles worldwide, mainly due to surging demand and penetration for eco-friendly options coupled with the developing second-generation bio-ethanol production and consumption of several types of biofuels, especially in the aviation industry, are further likely to create significant growth opportunities for the market in the forecast period.
The outbreak of the COVID-19 pandemic has significantly impacted the market's growth. The emergence of the deadly virus across the globe has forced countries and their respective governments to take necessary actions like lockdowns to get control of the spread of the pandemic, due to which many manufacturing and production facilities were temporarily closed, and supply chains were also highly disrupted. As sales of automobiles have declined significantly and transportation has been highly restricted globally, the demand for cellulosic ethanol also has had a negative impact.
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Industry Dynamics
Growth Drivers
Cellulosic ethanol is being significantly promoted across several countries to mitigate or reduce the country’s reliance and dependence on imported oil and substantial growth in the agricultural sector across several developing countries like India, Brazil, China, and Indonesia coupled with the increasing prevalence of installing large-scale commercial plants to produce these types of ethanol are major factors projected to strengthen the growth of the global cellulosic ethanol market.
Furthermore, several initiatives for cellulosic ethanol are being driven by rising concern over anthropogenic climate change, which is highly spurred by the evidence of increasing temperatures and their human causes. The utilization of cellulosic ethanol is considered a substantial source of emissions reduction compared to petroleum-based fuels used for transportation, heat, and electricity, which positively impacted the market's growth.
Report Segmentation
The market is primarily segmented based on feedstock, application, end-use, and region.
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By Feedstock |
By Application |
By End-Use |
By Region |
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Energy crop segment is expected to grow at a significant CAGR during forecast period
The energy crops segment is expected to grow at a significant CAGR during the study period, which is highly accelerated by the growing prevalence and demand for biomass to manufacture renewable fuels and continuously increasing awareness of the need to reduce greenhouse gases and carbon emissions across the globe. In addition, the use of energy crops for energy production has gained significant traction and popularity because of their carbon neutrality and the adoption of these crops as a cheaper alternative to fossil fuels while being highly diverse in several plant species, which in turn, propelling the demand and growth of the segment market.
The agricultural residue segment is anticipated to expand at a significant growth rate over the projected period on account of its growth potential as a major source of vegetative (cellulosic) matter that is being widely used in the production of ethanol along with its capabilities to be particularly attractive and effective for the production of cellulosic ethanol.
Gasoline segment held the significant market share in 2022
The gasoline segment held a significant market revenue share, mainly driven by the continuous rise in the global population, the increase in the number of automobiles in both developed and developed countries worldwide and the easy availability of gasoline in the market. Moreover, cellulosic ethanol is being widely used as renewable gasoline blend stock across several countries due to increasing focus on government and private organizations on the potential of the product with lower carbon intensity than fossil-derived and corn-derived pathways.
Transportation segment accounted for largest market share in 2022
The transportation segment accounted for the largest market share and is likely to retain its market position throughout the anticipated period, which is highly attributed to the wide utilization of cellulosic ethanol as a transportation fuel globally along with the rise in consumption of these fuels due to continuous increase in the prices of conventional fuels and savings from depreciating foreign currencies. Oil embargos & rising oil prices worldwide have resulted in the use of ethanol, as cellulosic ethanol provides a wide range of environmental advantages in carbon emissions.
North America region dominated the global market in 2022
North America region dominated the global market and is expected to maintain its dominance over the projected period, which is largely attributed to the extensive rise in the number of consumers of the product, and presence of a well-established automotive industry, and strict regulation over the particulate emissions in countries like US and Canada. Moreover, there has been a significant rise in the production of cellulosic ethanol across the region mainly due to higher renewable fuel standard targets and considerable growth in motor gasoline consumption, which is further likely to have a positive impact on the demand and development of the product over the next coming years.
APAC emerged as the fastest-growing region with a substantial CAGR over the period. The growth of the segment market can be highly attributed to the increasing need for clean biofuel and high penetration for adopting environmentally-friendly solutions to reduce air pollution levels, along with the rapid rate of urbanization and industrialization in countries like India and China. Additionally, the continuous growth in the production of automobiles in APAC countries due to the availability of cheap labor and required raw materials at lower cost in the region will further stimulate the demand and need for cellulosic ethanol and impact the market positively.
Competitive Insight
Some of the major players operating in the global cellulosic ethanol market include Novozymes, Alliance Bio-Products, Enerkem, Iogen Corporation, BlueFire Renewables, DowDuPont, Etip Bioenergy, Shandong Longlive, Aemetis, GranBio Group, Abengoa Bioenergy, Beta Renewables, Borregaard, Clariant International, & INEOS Group.
Recent Developments
- In August 2022, the Indian government announced the inauguration of the country’s 1st 2G cellulosic ethanol-based refinery in Haryana. It is based on Praj’s proprietary technology using rice straw as a feedstock. The bio-refinery spans approximately 35 acres that process 200,000 tonnes of lignocellulosic feedstock.
- In June 2022, Natural Resources Canada announced the launch of CFPs to fun clean fuels awareness projects, which aims to increase awareness and reduce the knowledge gap among Canadians on clean fuel technologies and types. These include a wide range of biofuels like cellulosic ethanol, renewable diesel, synthetic fuels, and sustainable aviation fuel.
Cellulosic Ethanol Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 1,228.73 million |
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Revenue forecast in 2032 |
USD 23,738.98 million |
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CAGR |
39.0% from 2023– 2032 |
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Base year |
2022 |
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Historical data |
2019– 2021 |
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Forecast period |
2023– 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments covered |
By Feedstock, By Application, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Novozymes A/S, Alliance Bio-Products Inc., Enerkem Inc., Iogen Corporation, BlueFire Renewables Inc., DowDuPont Inc., Etip Bioenergy, Shandong Longlive Bio-Technology, Aemetis Inc., GranBio Group, DSM Advanced Biofuels LLC, Abengoa Bioenergy Corporation, Beta Renewables SpA, Borregaard ASA, Clariant International Ltd., and INEOS Group AG. |
FAQ's
key companies in cellulosic ethanol market are Novozymes, Alliance Bio-Products, Enerkem, Iogen Corporation, BlueFire Renewables, DowDuPont, Etip Bioenergy, Shandong Longlive, Aemetis.
The global cellulosic ethanol market expected to grow at a CAGR of 39.0% during the forecast period.
The cellulosic ethanol market report covering key segments are feedstock, application, end-use, and region.
key driving factors in cellulosic ethanol market are increasing prevalence of installing large-scale commercial plants.
The global cellulosic ethanol market size is expected to reach USD 23,738.98 million by 2032.
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