Growth Accelerated by Rising Demand for Biofuel Additives

 


Ethanol derivatives are largely used as biofuel additives to increase gasoline engine efficiency and performance. Ethanol derivatives such as ethyl tert-butyl ether (ETBE) and tert-amyl methyl ether (TAME) are blended with gasoline to replace lead and raise the gasoline's oxygen content. They octane boosting properties enhance fuel combustion in engines. The use of biofuel additives made from ethanol derivatives in increasing substantially owing to stringent vehicular emission norms and growing emphasis on renewable fuel sources.

The global Ethanol Derivatives Market is estimated to be valued at US$ 11.76 Mn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising demand for biofuel additives from the automotive industry has been a key driver of the Global ethanol derivatives market size over the past few years. Government regulations limiting vehicular emissions and policies promoting biofuel usage have encouraged higher blending of ethanol derivatives into gasoline. Additionally, ethanol derivative additives enhance fuel efficiency and performance of gasoline engines. With growing emphasis on curbing emissions and transitioning to cleaner transportation, the production and consumption of biofuel blended gasoline is expected to increase substantially during the forecast period. This will drive further demand for ethanol derivatives from the fuel additive manufacturing industry.

Segment Analysis

The global ethanol derivatives market is dominated by the ethyl alcohol segment which accounted for over 30% market share in 2024. Ethyl alcohol finds wide applications in beverages, pharmaceuticals, personal care products and other industries owing to its solvent properties. It is used as an antiseptic in manufacturing of medicines, as a preservative in cosmetics and also in alcoholic beverages production. This substantial use of ethyl alcohol across various end-use industries has propelled the growth of this segment in the global market.

Key Takeaways

The global ethanol derivatives market is expected to witness high growth over the forecast period of 2024-2031. The market is projected to grow at a CAGR of 6.4% during this period.

Regional analysis

North America dominated the global ethanol derivatives market in 2024 and is expected to maintain its leading position through 2031. Rising consumption of alcoholic beverages in countries like US and Canada has been a major factor driving the demand for ethanol derivatives in the region. Asia Pacific is expected to be the fastest growing regional market owing to growing pharmaceutical industry and increasing per capita incomes in major economies like India and China.

Key players

Key players operating in the ethanol derivatives market are Tesab Engineering Ltd., Terex Corporation, ThyssenKrupp AG, Metso Corporation, FLSmidth & Co. AS, McCloskey Equipment, Keestrack NV, Westpro Machinery Inc., Puzzolana Machinery Fabricators LLP, Astec Industries Inc., and Sandvik AB. Tesab Engineering Ltd. and Terex Corporation hold a significant share of the crushing equipment segment globally. Metso Corporation and FLSmidth & Co. AS are the leaders in grinding equipment.

Get More Insights On This Topic: https://www.newsstatix.com/ethanol-derivatives-market-size-share-analysis-2023-2030/


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