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.
North America Bio-ethanol Industry Segmentation
Bioethanol is a liquid biofuel that ferments the sugar and starch components of various plant byproducts such as corn, wheat, sugarcane, and others. The North American bio-ethanol market is segmented by feedstock type, application, and geography. By feedstock type, the market is segmented into sugarcane, corn, wheat, and other feedstocks. By application, the market is segmented into automotive and transportation, food and beverage, pharmaceutical, cosmetics and personal care, and other applications. The report also covers the market size and forecasts for the bio-ethanol market in 3 major countries across the North American region. For each segment, the market sizing and forecasts have been done based on volume (million l).
| Feedstock Type | |
| Sugarcane | |
| Corn | |
| Wheat | |
| Other Feedstocks |
| Application | |
| Automotive and Transportation | |
| Food and Beverage | |
| Pharmaceutical | |
| Cosmetics and Personal Care | |
| Other Applications |
| Geography | |
| United States | |
| Canada | |
| Mexico |
North America Bio-ethanol Market Size Summary
The North American bio-ethanol market is poised for growth, driven by increasing demand for biofuels amid rising environmental concerns over fossil fuel usage. Regulatory bodies are implementing favorable initiatives and blending mandates, which are expected to bolster the market. Despite challenges posed by the COVID-19 pandemic, which disrupted production and reduced consumption, the market has shown resilience and is on a recovery path. The United States is anticipated to lead the market, benefiting from its robust automotive and transportation sectors, which are significant consumers of bio-ethanol. However, the shift towards electric vehicles presents a challenge, potentially limiting future growth in bio-ethanol consumption.
Bio-ethanol serves as a cost-effective and sustainable alternative to traditional fuels, with applications extending beyond the automotive sector to include pharmaceuticals and cosmetics. The market's expansion is supported by initiatives such as Canada's funding for clean fuels and the development of second-generation bio-ethanol production. The presence of major industry players and investments in production facilities further contribute to the market's growth prospects. Despite the potential decline in demand due to the rise of electric vehicles, the market is expected to maintain a steady growth trajectory, driven by ongoing developments and strategic initiatives in the region.
North America Bio-ethanol Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Increasing Favorable Initiatives and Blending Mandates by Regulatory Bodies
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1.1.2 Rising Environmental Concerns by the Use of Fossil Fuels and Need for the Bio-fuels
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1.2 Market Restraints
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1.2.1 Phasing out of Fuel-based Vehicles Due to Rising Demand for Electric Vehicles
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1.2.2 Shifting Focus to Bio-butanol
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Feedstock Type
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2.1.1 Sugarcane
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2.1.2 Corn
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2.1.3 Wheat
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2.1.4 Other Feedstocks
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2.2 Application
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2.2.1 Automotive and Transportation
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2.2.2 Food and Beverage
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2.2.3 Pharmaceutical
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2.2.4 Cosmetics and Personal Care
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2.2.5 Other Applications
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2.3 Geography
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2.3.1 United States
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2.3.2 Canada
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2.3.3 Mexico
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North America Bio-ethanol Market Size FAQs
What is the current North America Bio-ethanol Market size?
The North America Bio-ethanol Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in North America Bio-ethanol Market?
ADM , Suncor Energy Inc., POET, LLC. , Valero and Cenovus Inc. are the major companies operating in the North America Bio-ethanol Market.
