Global Cellulosic Ethanol Market 2020-2024 | Increasing Environment and Energy Security Concerns to Boost Market Growth | Technavio
LONDON--(BUSINESS WIRE)--Mar 5, 2020--
The cellulosic ethanol market is expected to grow by USD 47.8 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Cellulosic Ethanol Market 2020-2024 (Graphic: Business Wire)
Fossil fuels have limited reserves, and most energy production is based on them. This has led many countries to import large quantities of crude oil, which impacts the growth of their economy. Moreover, fossil fuels emit heavy greenhouse gas emissions, which may have an adverse impact on the environment. Cellulosic ethanol is one of the fastest-growing alternative fuels across various parts of the world, as it helps to diversify the energy mix and reduce the dependency on fossil fuels. Cellulosic ethanol also reduces the dependency of crude oil import for countries which have less or no crude oil reserves and help them to utilize the money to improve their economy and lessen the threat to their national security. One of the main reasons for the shift to cellulosic ethanol is that they are made from locally available feedstocks. These feedstocks can be easily produced in any supportive environment. Thus, the increasing environment and energy security concerns is expected to drive the growth of the market.
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As per Technavio, the advancements in enzyme technology will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Cellulosic Ethanol Market : Advancements in Enzyme Technology
Enzymes play an essential role in the manufacturing of cellulosic ethanol from lignocellulose, hemicellulose, and lignin. Advancements in the enzyme technologies have enabled the conversion of several types of biomass into renewable biofuels. Enzymes help in altering the chemical structure and properties of a wide range of biomass and aid in the production of cellulosic ethanol. Each type of biomass contains a different concentration of various compounds. Enzymes convert sugars in biomass to cellulosic ethanol. Enzyme technology has made it possible to run a cellulosic ethanol plant at a commercial scale. These technologies have increased the conversion rates of the feedstock to ethanol, thereby increasing the production volume while decreasing the cost. Thus, the advancements in enzyme technology is expected to drive the growth of the market during the forecast period.
“The growing need for compliance with environmental regulations and the rising demand for renewable clean fuel will have a positive impact on the growth of the cellulosic ethanol market value during the forecast period,” says a senior analyst at Technavio.
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Cellulosic Ethanol Market : Segmentation Analysis
This market research report segments the cellulosic ethanol market by feedstock (energy crops, agriculture residues, organic MSW and forest residues), and geography (APAC, Europe, MEA, North America and South America).
The North American region led the cellulosic ethanol market in 2019, followed by Europe, APAC, South America and MEA. The North American region is expected to register the highest incremental growth due to the government support for extensive research in modern technology and processing to increase the quality of cellulosic ethanol .
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Some of the key topics covered in the report include:
- Energy crops
- Agriculture residues
- Organic MSW
- Forest residues
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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SOURCE: Technavio Research
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PUB: 03/05/2020 03:30 PM/DISC: 03/05/2020 03:30 PM