Global bioethanol market to rise to $9,544 million by 2022

The global bioethanol market will rise to $9,544 million by 2022, according to a report by Big Market Research.

Valued at $5,652 million in 2015, the bioethanol market is forecast to have a compound annual growth rate (CAGR) of 7.6% up until 2022.

The report identifies a number of factors which are driving the growth of the bioethanol market. The rise in environmental concerns and need to lower greenhouse gases are big contributors, as are blending mandates imposed by regulatory bodies. In addition, a substantial increase in demand from the Asia-Pacific region is also stimulating growth, according to the report.

A major challenge for the market identified by the report is the high investment and production cost of cellulosic ethanol. The food versus fuel debate concerning agricultural land use is also expected to affect the growth of the market.

Big Market Research’s report segments the bioethanol market based on raw material, type, blend, generation, application and geography.

The report intends to provide a detailed quantitative analysis of the current trends and future predictions from 2014 to 2022 for the global bioethanol market, helping to identify prevailing market opportunities. In-depth coverage of the market, including drivers, restraints and opportunities, are intended to help professionals to understand the market behaviour in an efficient manner.