Top Five Markets Using Ethanol as a Fuel in 2021
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United States of America, Brazil, China, India, and Germany were the top five Ethanol as a fuel markets (by value) in 2021
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United States of America was the leading Ethanol as a fuel market in 2021. The market value of Ethanol as a fuel in United States of America recorded a value of $32,187.6 million, down 1.6% YoY, while the underlying volume in this market grew by 2.4% YoY
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Brazil ranked second (by value in 2021) with a market value of $16,087.4 million (up 3.5% YoY), with the other three markets (China, India, and Germany) having a cumulative market value of $7,595.2 million in 2021
Top Five Markets Using Ethanol as a Fuel in 2021
With the projected increase in population and energy demands, an increase in greenhouse gas emissions due to the use of conventional fuels creates an urgency to shift to low carbon-alternative fuels. One of the ongoing global efforts is to promote the use of less polluting fuels such as Biofuels, Biodiesel, or Bioethanol. Automobiles using diesel or gasoline have been a major source of Greenhouse gas which is forcing governments to promote the use of blended fuels to reduce emissions. For example, countries like France have mandated companies to produce such blended fuels for vehicles and are also promoting the use of the same as aviation fuel. Companies like Shell also have taken positive steps in reducing their carbon footprint by a fifth by 2035 which has resulted in the company producing ethanol.
Ethanol is mainly produced by a sugar fermentation process and the main sources of sugar required to produce ethanol come from fuel or energy crops. Ethanol produced from energy crops like corn, maize, sorghum, etc. has several advantages over conventional fuels. It comes from a renewable source and unlike fossil fuels have reduced GHG emissions. With automobiles running on fossil fuels accounting for a major share in GHG Emissions, it makes it necessary for the world to increase usage of these low carbon fuels.
Global Ethanol Market is expected to grow as the world targets carbon neutrality by 2050. The United States of America was the leading player in the ethanol as a fuel market, both in market value and volume. In 2021, the USA’s market value of Ethanol as a fuel stood at $32,187.6 Mn, down 1.6% YoY and the underlying volume grew 2.4% during the same period.
In 2021 by market value, Brazil ranked second at $16,087.4 Mn (up 3.5% YoY), while the other three markets - China, India, and Germany, have a cumulative market value of $7,595.2 Mn. The ethanol market is likely to grow in the future as 130 countries have set or considering setting a target of net-zero emissions.
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