DUBLIN--(BUSINESS WIRE)--Sep 16, 2022--
The "Bio-Alcohols Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global bio-alcohols market size reached US$ 11.4 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 21.1 Billion by 2027, exhibiting a CAGR of 10.81% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Bio-Alcohols Market Trends:
The increasing adoption of biofuels in automobiles due to the implementation of stringent government regulations for minimizing carbon emissions of vehicles represents one of the major factors positively influencing the demand for bio-alcohols. It can also be attributed to the rising sales of high-performance automobiles and inflating prices of petrol worldwide.
In addition, it is used in construction materials as it is a biodegradable, sustainable and economical renewable energy resource. This, in confluence with rising construction activities in the residential, commercial, and industrial areas, is contributing to the market growth.
Apart from this, bio-alcohols are widely employed in personal care and cosmetic products, such as perfumes, body mist, hair sprays, and hand sanitizers. This, along with the growing demand for organic and natural products, is propelling the market growth.
Furthermore, the increasing consumer awareness about household cleanliness and hygiene is catalyzing the demand for bio-alcohols in household cleaners and disinfectants. Besides this, the widespread product usage in the production of medicinal products is offering lucrative growth opportunities to industry investors.
Bio-alcohols comprise biomethanol, bioethanol, biopropanol, and biobutanol, which are renewable and eco-friendly fuels produced from biological resources or biomass. They are fermented by the action of microorganisms and enzymes through the fermentation of sugars, starches, and cellulose.
They are combustible, volatile, and offer low viscosity and toxicity with a high energy density. At present, due to the emerging trend of cocktail culture, especially among millennials, bio-alcohols are gaining immense traction in alcoholic beverages.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.
Some of these players are
Key Questions Answered in This Report:
Key Market Segmentation:
Breakup by Product Type: Bio-ethanol dominates the market as it exhaust gases of ethanol are much cleaner.
Breakup by Raw Material: Grains currently account for the majority of the total market share.
Breakup by Application: Bio-alcohols find extensive application in the transportation industry to minimize carbon emissions.
Breakup by Region: North America holds the majority of the global bio-alcohols market share due to increasing construction activities in the region
For more information about this report visit https://www.researchandmarkets.com/r/hjdazc
View source version on businesswire.com:https://www.businesswire.com/news/home/20220916005212/en/
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KEYWORD:
INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING AUTOMOTIVE ALTERNATIVE VEHICLES/FUELS
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/16/2022 06:45 AM/DISC: 09/16/2022 06:47 AM
http://www.businesswire.com/news/home/20220916005212/en