Market Size of Ethyl Alcohol (Ethanol) Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | > 5.00 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Ethanol Market Analysis
The ethyl alcohol (ethanol) market is expected to register a CAGR of more than 5% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market is now estimated to reach pre-pandemic levels and is expected to grow steadily in the future
- Major factors driving the market studied growth is the rising ethanol demand as biofuel, the growing use in beer production and food processing, and stringent government policies to restrict the usage of fossil fuels.
- Conversely, increased awareness about the ill effects of alcohol consumption and the hybrid electric vehicle advent is likely to hamper the market studied growth.
- The surging demand to produce ethanol from corn and sugar will likely provide opportunities for the market studied during the forecast period.
- North America dominated the market across the world due to increasing regulations and rising demand for the food processing industry.