Bioethanol Market Market Share

North America Market Statistics

North America in bioethanol market is likely to account for around 36.4% revenue share by 2037. The market is growing in the region due to the government’s strict laws to implement the use of biofuels. Higher renewable fuel standard requirements and rising domestic motor gasoline consumption which is currently blended with 10% ethanol by volume have led to an increase in the production of bioethanol.

In the U.S., ethanol is mostly produced from corn and it is widely used across the nation. With 205 ethanol plants across the country, the United States can produce an estimated 15.8 billion gallons (59.8 billion liters) of ethanol per year, providing enough worldwide supply.

In Canada, the biofuel industry is witnessing a significant increase in investment, driven by rising global demand for biofuel. Also, the government is implementing stringent laws to increase the use of biofuels which is accelerating the growth of market. For instance, Canada's Clean Fuel Regulation (CFR) intends to reduce the carbon intensity of liquid transportation fuels and has the potential to raise the use of low carbon-intensity diesel by 2.2 billion liters and ethanol by 700 million liters by 2030.  

APAC Market Analysis

The bioethanol market in Asia Pacific will encounter huge growth during the forecast period owing to the of growing biofuel demand in countries such as China, India, and Thailand as well as regional government policies and initiatives that encourage the use of renewable fuel sources.

In China, the economy is expanding at a rapid pace, which has increased energy demand and raised concerns over the nation's energy security. According to the International Energy Agency, in 2021 electricity consumption in China increased from 489% from 2000. The nation is supporting the growth of the fuel to guarantee national energy security, lessen reliance on oil imports, cut greenhouse gas emissions, and boost farmers' incomes.

In India, to lessen dependency on imported fossil fuels and fight environmental pollution, the government has launched several policies and programs to encourage the development and use of biofuels. These regulations include the Ethanol Blending Program and the National Policy on Biofuels, which set a minimum amount of ethanol blended back into gasoline.

The market in South Korea is expected to increase significantly due to changes in customer preferences, government backing, and technological advancements. Businesses are encouraged to adopt greener practices and make investments in cutting-edge technologies by consumer demand for premium, environmentally friendly products.