Report Code: A07539 | Pages: NA | Mar 2023 | 1191 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Ethanol Market
Request Now !Ethanol, also known as ethyl alcohol, is an organic alcohol. It is a liquid with an agreeable odor and taste. Ethanol is generally produced by the anaerobic fermentation of sugar-based feedstock, such as sugarcane, wood, wheat, corn or barley, and can also be produced by hydration of ethylene. Ethanol is volatile and flammable in nature. It is widely used in various industries, such as pharmaceutical, food & beverages, chemical, and others, due to high solubility of ethanol in water and other organic solvents.Â
The outbreak of the COVID-19 pandemic has a mixed effect on the global ethanol market.Â
The major driving factor for the growth of the ethanol market is the product’s extensive use in the automobile industry as a fuel additive. Ethanol additives are being used to substitute leaded fuel as most of the countries have successfully banned the use of leaded gasoline. Gasoline itself has a low octane value and is not suitable to use as fuel, but by adding ethanol, the octane value rises to the standard level. Moreover, ethanol also has a wide range of applications in the pharmaceutical industry as medicinal solvent and antiseptic. It is a primary constituent of most of the hand sanitizer gels. In addition, it is also the main component of any alcohol beverage. The demand for alcoholic beverages increases at a rapid pace with increase in global population, which drives the growth of the ethanol market.Â
North America holds the largest share of the global ethanol market, owing to the high demand for ethanol as a fuel additive. The Renewable Fuels Association estimates that the U.S. exports about 850 gallon of ethanol to more than 50 countries. The market in the Latin America region is also expected to grow at a significant pace, with Brazil being the major consumer of ethanol as an additive for gasoline.Â
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Ethanol Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | Cargill Inc., Archer Daniels Midland Company, Grain Processing Corporation, Ace Ethanol LLC, Advanced Bio Energy LLC, MGP Ingredients, Flint Hills Resources, Marquis Energy, Green Plains Inc., Valero |
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