Bioethanol Market Top Vendors, Industry Trends, Growth, Recent Developments, Technology Forecast to 2028
Market Research Future (MRFR) postulates that the global the Bioethanol Market value is registered as USD 58.44 billion and is anticipated to grow at a significant rate of 7.65% CAGR with the bioethanol market size is USD 85.71 billion during the forecast period (2022-2030). Over the last few years, the bioethanol market has grown by leaps and bounds owing to the scarcity of fossil fuels. An alternative to petrol, bioethanol is a biofuel which is generally obtained from natural sources such as maize, sugarcane, and corn. However, with the emergence of second and third generation biofuel technologies, dependence on food crops for the production of bioethanol has decreased. Manufacturers are concentrating on utilizing forest and agricultural residues along with energy crops like switchgrass, miscanthus, and sugarcane bagasse for the production of bioethanol. Market Potential and Pitfalls With the growing realization regarding the scarcity of fossil fuels across the world coupl...