Market Size of North America Bio-ethanol Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Bio-ethanol Market Analysis
The North American bio-ethanol market is expected to register a CAGR of over 5% during the forecast period.
COVID-19 harmed the North American bioethanol market. During COVID-19, automobile usage declined, and several production sites and distribution networks were hampered due to the lockdown, limiting bioethanol consumption within the region. After 2020, the market improved steadily due to the continuous activities in the North American area.
- Rising demand for biofuels due to growing environmental concerns about the use of fossil fuels, increasing favorable initiatives, and blending mandates by regulatory bodies are expected to drive the bio-ethanol market's growth in North America.
- However, phasing out of fuel-based vehicles due to rising demand for electric cars is the primary factor hindering the market's growth.
- Developing second-generation bio-ethanol production and increasing consumption of Biofuels in the Aviation Industry is likely to be an opportunity in the future.
- United States is expected to dominate the bio-ethanol market in North America and is also likely to witness the highest CAGR during the forecast period.
