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Demand for Renewable Energy Sources to Fuel Growth of the Cellulosic Ethanol Market
Need to consider renewable alternative energy sources such as cellulosic ethanol is largely driven by growing prices of crude oil. With the ongoing political tensions and Russia-Ukraine war scenario, the crude oil prices reached a maximum high in 2022 as Russian crude oil traders claim the absence of potential buyers. Moreover, apart from price hikes, carbon footprint exhibited from crude oil derivatives is much higher as compared to biofuels such as cellulosic ethanol. This factor continues to influence the use of renewable sources of energy, in turn bolstering the growth of the cellulosic ethanol market.
Cellulosic Ethanol Market Growth Spearheaded by Rising Biofuel Demand Worldwide
Demand for biofuels is expected to increase at a higher rate in the years to follow. Following a major decline in 2020 on the back of a significant disruption in the global transportation scenario owing to COVID-19 pandemic, the overall demand for biofuel is now on course to outdo the 2019 market statistics in 2022. For instance, according to International Energy Agency (IEA), the demand for biofuels is anticipated to increase by 28% in the next five years on the global front touching 186 billion litres.
With respect to volume, United States is expected to be at the helm, also mostly driven by the rebound from the slack caused by COVID-19 pandemic. Asia Pacific on the other hand is expected to account for around 30% of new biofuel production by end of 2026. This is mainly attributed towards robust domestic policies coupled growing demand for liquid fuels and an export-driven production. IEA analysis also reflects that recent policies for ethanol in India along with blending biodiesel targets in Malaysia and Indonesia are the main contributors favouring growth of biofuel in Asia. IEA also predicts that India is most likely to become the third largest market for cellulosic ethanol by 2026. That said, growing demand and use of biofuel is expected to give an impetus to the cellulosic ethanol market growth in the years to follow.
Advantages of Cellulosic Ethanol over its Corn-Based Counterpart to Influence Market Growth
Production of cellulosic ethanol from a commercial standpoint, unlike sugarcane and corn, would not hinder food production but is beneficial as it will alleviate pressure on these crops. Albeit it’s higher processing costs, overall pricing of cellulosic biomass is cheaper as compared to the price of fruits and grains. In addition, cellulose being the key component of plants, harvesting the whole plant is economical rather than just seeds or fruit. This can result in an enhanced yield per acre of land. For instance, as compared to corn, ethanol yield from switchgrass (panicum virgatum) is almost twice per acre. Moreover, biomass material required for cellulose production need few inputs, such as herbicides and fertilizers. Also, overall global warming quotient and carbon footprint potential of cellulosic ethanol is significantly lower while the net putout of energy is multiple times higher than that from corn-based ethanol. In this backdrop, advantages associated with the commercial production of cellulosic ethanol over its sugar or a corn-based counterpart is expected to augur well for the cellulosic ethanol market.
Use of Cellulosic Ethanol in Transportation to Boost Market Growth
Use of cellulosic ethanol in transportation applications is poised to increase at a significant rate in the coming years. Combination of low-ratio gasoline and ethanol can be used effectively in conventional engines with spark ignition without carrying out any engine modifications. In addition, hybrid vehicles that can be operated on extremely concentrated mixture are an apt audience for cellulosic ethanol. Moreover, cellulosic ethanol facilitates environmental benefits apropos to carbon emissions. Carbon emissions using cellulosic ethanol as biofuel are significantly lower than those from gasoline.
The U.S. Department of Energy has set a target to replace 30% of gasoline demand by end of 2030 which will translate to around 60 billion gallons of ethanol per year. While corn ethanol is not sufficient to fruition this target, cellulosic ethanol can promise of achieving it while shunning carbon emissions. Cellulosic ethanol can be considered as sizeable substitution for gasoline and can act as a primary solution to domestic transportation fuels. Thus, increasing inclination towards use of gasoline substitutes in transportation is likely to contribute to the valuation of the cellulosic ethanol market in due course of time.
North America Gears Up to be an Opportunistic Revenue Pocket
Developed economies in North America are likely to present potential opportunities for growth of cellulosic ethanol market. This is owing to increased production of cellulosic ethanol in the region coupled with strong government mandates apropos to clean energy. Policies around reduction in carbon and GHG (Green House Gas) emissions such as low carbon fuel standards in California are expected to boost demand for biofuels. In addition, recently signed RFS (U.S Renewable Fuels Standard) as part of amended Energy Bill, has favoured production of biofuel. By end of 2022, RFS targets 36 billion gallons of biofuel production in the country which has scaled up the demand for cellulosic ethanol, apart from its corn-based counterpart. This factor continues to influence growth of cellulosic ethanol market in the region, making it a lucrative revenue pocket.
Cellulosic Ethanol Market: Competitive Landscape
Few of the players in the cellulosic ethanol market include DuPont Industrial Biosciences, Mascoma, Abengoa Bioenergy, Beta Renewables, British Petroleum and Novozymes.
Regional Classification of the Global Cellulosic Ethanol Market is Listed Below:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
1. Executive Summary
1.1. Global Cellulosic Ethanol Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
2.2.1.2. Driver B
2.2.1.3. Driver C
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Pre-Covid and Post-Covid Scenario
2.5.2. Supply Impact
2.5.3. Demand Impact
2.6. Government Regulations
2.7. Global Ethanol Outlook
2.8. Technology Landscape
2.9. Economic Analysis
2.10. PESTLE
3. Production Output and Trade Statistics, 2018 - 2022
3.1. Regional Production Statistics
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East & Africa
3.2. Trade Statistics
4. Price Trends Analysis and Future Projects, 2018 - 2030
4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Process
4.4. By Region
5. Global Cellulosic Ethanol Market Outlook, 2018 - 2030
5.1. Global Cellulosic Ethanol Market Outlook, by Feedstock, Volume (Tons) and Value (US$ Mn), 2018 - 2030
5.1.1. Key Highlights
5.1.1.1. Agriculture Residues
5.1.1.2. Energy Crops
5.1.1.3. Organic MSW
5.1.1.4. Forest Biomass
5.1.1.5. Misc.
5.2. Global Cellulosic Ethanol Market Outlook, by Process, Volume (Tons) and Value (US$ Mn), 2018 - 2030
5.2.1. Key Highlights
5.2.1.1. Biochemical
5.2.1.2. Thermochemical
5.3. Global Cellulosic Ethanol Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018 - 2030
5.3.1. Key Highlights
5.3.1.1. Transportation
5.3.1.2. Industrial
5.3.2. BPS/Market Attractiveness Analysis
5.4. Global Cellulosic Ethanol Market Outlook, by Region, Volume (Tons) and Value (US$ Mn), 2018 - 2030
5.4.1. Key Highlights
5.4.1.1. North America
5.4.1.2. Europe
5.4.1.3. Asia Pacific
5.4.1.4. Latin America
5.4.1.5. Middle East & Africa
5.4.2. BPS/Market Attractiveness Analysis
6. North America Cellulosic Ethanol Market Outlook, 2018 - 2030
6.1. North America Cellulosic Ethanol Market Outlook, by Feedstock, Volume (Tons) and Value (US$ Mn), 2018 - 2030
6.1.1. Key Highlights
6.1.1.1. Agriculture Residues
6.1.1.2. Energy Crops
6.1.1.3. Organic MSW
6.1.1.4. Forest Biomass
6.1.1.5. Misc.
6.2. North America Cellulosic Ethanol Market Outlook, by Process, Volume (Tons) and Value (US$ Mn), 2018 - 2030
6.2.1. Key Highlights
6.2.1.1. Biochemical
6.2.1.2. Thermochemical
6.3. North America Cellulosic Ethanol Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018 - 2030
6.3.1. Key Highlights
6.3.1.1. Transportation
6.3.1.2. Industrial
6.4. North America Cellulosic Ethanol Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2030
6.4.1. Key Highlights
6.4.1.1. U.S.
6.4.1.2. Canada
6.4.2. BPS/Market Attractiveness Analysis
7. Europe Cellulosic Ethanol Market Outlook, 2018 - 2030
7.1. Europe Cellulosic Ethanol Market Outlook, by Feedstock, Volume (Tons) and Value (US$ Mn), 2018 - 2030
7.1.1. Key Highlights
7.1.1.1. Agriculture Residues
7.1.1.2. Energy Crops
7.1.1.3. Organic MSW
7.1.1.4. Forest Biomass
7.1.1.5. Misc.
7.2. Europe Cellulosic Ethanol Market Outlook, by Process, Volume (Tons) and Value (US$ Mn), 2018 - 2030
7.2.1. Key Highlights
7.2.1.1. Biochemical
7.2.1.2. Thermochemical
7.3. Europe Cellulosic Ethanol Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018 - 2030
7.3.1. Key Highlights
7.3.1.1. Transportation
7.3.1.2. Industrial
7.4. Europe Cellulosic Ethanol Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2030
7.4.1. Key Highlights
7.4.1.1. Germany
7.4.1.2. France
7.4.1.3. U.K.
7.4.1.4. Italy
7.4.1.5. Spain
7.4.1.6. Russia
7.4.1.7. Rest of Europe
7.4.2. BPS/Market Attractiveness Analysis
8. Asia Pacific Cellulosic Ethanol Market Outlook, 2018 - 2030
8.1. Asia Pacific Cellulosic Ethanol Market Outlook, by Feedstock, Volume (Tons) and Value (US$ Mn), 2018 - 2030
8.1.1. Key Highlights
8.1.1.1. Agriculture Residues
8.1.1.2. Energy Crops
8.1.1.3. Organic MSW
8.1.1.4. Forest Biomass
8.1.1.5. Misc.
8.2. Asia Pacific Cellulosic Ethanol Market Outlook, by Process, Volume (Tons) and Value (US$ Mn), 2018 - 2030
8.2.1. Key Highlights
8.2.1.1. Biochemical
8.2.1.2. Thermochemical
8.3. Asia Pacific Cellulosic Ethanol Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018 - 2030
8.3.1. Key Highlights
8.3.1.1. Transportation
8.3.1.2. Industrial
8.4. Asia Pacific Cellulosic Ethanol Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2030
8.4.1. Key Highlights
8.4.1.1. China
8.4.1.2. Japan
8.4.1.3. South Korea
8.4.1.4. India
8.4.1.5. Southeast Asia
8.4.1.6. Rest of Asia Pacific
8.4.2. BPS/Market Attractiveness Analysis
9. Latin America Cellulosic Ethanol Market Outlook, 2018 - 2030
9.1. Latin America Cellulosic Ethanol Market Outlook, by Feedstock, Volume (Tons) and Value (US$ Mn), 2018 - 2030
9.1.1. Key Highlights
9.1.1.1. Agriculture Residues
9.1.1.2. Energy Crops
9.1.1.3. Organic MSW
9.1.1.4. Forest Biomass
9.1.1.5. Misc.
9.2. Latin America Cellulosic Ethanol Market Outlook, by Process, Volume (Tons) and Value (US$ Mn), 2018 - 2030
9.2.1. Key Highlights
9.2.1.1. Biochemical
9.2.1.2. Thermochemical
9.3. Latin America Cellulosic Ethanol Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018 - 2030
9.3.1. Key Highlights
9.3.1.1. Transportation
9.3.1.2. Industrial
9.4. Latin America Cellulosic Ethanol Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2030
9.4.1. Key Highlights
9.4.1.1. Brazil
9.4.1.2. Mexico
9.4.1.3. Rest of Latin America
9.4.2. BPS/Market Attractiveness Analysis
10. Middle East & Africa Cellulosic Ethanol Market Outlook, 2018 - 2030
10.1. Middle East & Africa Cellulosic Ethanol Market Outlook, by Feedstock, Volume (Tons) and Value (US$ Mn), 2018 - 2030
10.1.1. Key Highlights
10.1.1.1. Agriculture Residues
10.1.1.2. Energy Crops
10.1.1.3. Organic MSW
10.1.1.4. Forest Biomass
10.1.1.5. Misc.
10.2. Middle East & Africa Cellulosic Ethanol Market Outlook, by Process, Volume (Tons) and Value (US$ Mn), 2018 - 2030
10.2.1. Key Highlights
10.2.1.1. Biochemical
10.2.1.2. Thermochemical
10.3. Middle East & Africa Cellulosic Ethanol Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018 - 2030
10.3.1. Key Highlights
10.3.1.1. Transportation
10.3.1.2. Industrial
10.4. Middle East & Africa Cellulosic Ethanol Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2030
10.4.1. Key Highlights
10.4.1.1. GCC
10.4.1.2. South Africa
10.4.1.3. Rest of Middle East & Africa
10.4.2. BPS/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Company Market Share Analysis, 2021
11.2. Competitive Dashboard
11.3. Company Profiles
11.3.1. DuPont
11.3.1.1. Company Overview
11.3.1.2. Product Portfolio
11.3.1.3. Financial Overview
11.3.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
11.3.2. Abengoa
11.3.3. Novozymes
11.3.4. Anhui Guozhen Group
11.3.5. Raízen SA
11.3.6. Biochemtex S.p.A.
11.3.7. BlueFire Renewables Inc.
11.3.8. POET
11.3.9. Longlive Group
11.3.10. GranBio
11.3.11. Clariant AG
11.3.12. Enerkem
11.3.13. Borregaard
11.3.14. INEOS Bio
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations
Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.
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