India Ethanol Market to Grow with a CAGR of 8.84% through 2029
Growing demand of biofuels for
sustainable development and rising demand from automotive sector are the major
driver of India Ethanol Market
According
to TechSci Research report, “India Ethanol
Market – By Region, Competition, Forecast and Opportunities, 2029”, India Ethanol Market Size is USD 6512.27 million
in 2023 and is anticipated to increase at a CAGR of 8.84% in the forecast
period. A significant factor fueling the growth of India Ethanol Market is the growing
demand of biofuel for sustainable development. Ethanol is a renewable
feedstock-based fuel that is generated from various plants sources. Biofuels are liquid fuels that come from
renewable raw materials and one of their main assets is that they have zero or
low CO2 emissions during their production and final use. Among them,
biodiesel, biogas, or bio alcohols such as bioethanol. Bioethanol is considered
a carbon-neutral fuel, because it does not increase the net amount of carbon
dioxide in the atmosphere.
Bioethanol can also be used as a fuel additive or a
substitute for gasoline in vehicles that are designed to run on ethanol or
flex-fuel. Moreover, bioethanol has several benefits, including its
renewability, biodegradability, and importance in reducing greenhouse gas
emissions. Bioethanol is also non-toxic and helps reduce our dependence on
crude oil. Additionally, ethanol is an alcohol that can be blended with
gasoline to increase its octane rating and reduce its carbon monoxide and other
smog-causing emissions. Along with this, Ethanol is a common ingredient in many
personal care products, such as cosmetics, perfumes, lotions, and hair
products. Ethanol acts as a solvent, a preservative, an antiseptic, and a
fragrance enhancer that result in enhancing the India Ethanol Market in the
forecast period.
Furthermore,
the market is being further stimulated by favorable government policies for
ethanol use, rising demand from the automotive sector, high research and innovation
regarding the generation of 3rd and 4th generation ethanol.
However, lack of awareness and understanding of
ethanol, consumers and industries may not be inclined to adopt it as a fuel
source slows down the growth of India Ethanol Market. Also, limited availability
of feedstock due to fluctuations in agricultural
production, weather conditions, and seasonal variations further slowdown the India Ethanol Market growth.
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Pages and an in-depth TOC on the "India Ethanol Market"
India
Ethanol Market is segmented based on type, raw material, purity, application, and
region.
Based
on type, the market is divided into bio
ethanol and synthetic ethanol. Bioethanol is expected to hold the
largest market share in the forecast period with 87.49% in 2024. As bioethanol
is a type of alcohol that is obtained from different types of plants rich in
cellulose such as sugar cane, sugar beet, or some grains such as corn and it
reduces the emission of greenhouse gases.
Based
on raw material, the market is categorized into sugar & molasses based, grain
based, lignocellulosic biomass and algal biomass. Sugar & molasses based is
expected to hold the largest market share in the forecast period with 81.87% in
2024. This is due to large availability of sugarcane with economical price that
help to increase the production capacity of ethanol as well as utilization of
its waste in the generation of electricity.
Based
on purity, the market is segmented into denatured and undenatured. Denatured is
expected to hold the largest market share in the forecast period with 65.86% in
2024. This is due to their large utilization in various application. As denatured
alcohol is used as a lower-cost solvent or fuel for home-scale or industrial
use.
Based
on application, the market is segmented into fuel & fuel additives, industrial
solvents, disinfectant, personal care, beverage and others. Fuel & fuel
additives segment is expected to hold the largest market share in the forecast
period with 38.27% in 2024. This is due to wide use of fuel & fuel
adhesives in various applications such as fuel tanks, fuselage, wings, and
engine components as well as it reduces harmful emissions and improves air
quality.
Major
companies operating in the India Ethanol Market are:
- India
Glycol Limited
- Triveni
Engineering & Industries Ltd.
- Shree
Renuka Sugars Limited
- Balrampur
Chini Mills Limited
- Dhampur
Sugar Mills Ltd
- Bajaj
Hindusthan Sugar Ltd.
- Dalmia
Bharat Sugar and Industries Limited
- E.I.D.-Parry
(India) Limited
- Simbhaoli
Sugars Ltd.
- Mawana
Sugars Limited
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“North
region is expected to grow at the highest rate during the forecast period due
to presence of large number of market players and adequate number of feedstocks
materials such as sugarcane, corn, maize, etc. Moreover, increasing utilization
of ethanol under the Ethanol Blended Petrol (EBP) program which utilize ethanol
with petrol in blending manner, at present E10 blending is used in which 10%
ethanol and 90% petrol are use as fuel in the vehicles and furthermore,
government focusing on the blending of 20% ethanol with petrol and availability
of E20 blended fuel by 2025 result in increasing the demand of ethanol that creates
huge prospects of market growth during the forecast period,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“India Ethanol Market, By Type (Bio Ethanol,
Synthetic Ethanol), By Raw Material (Sugar & Molasses Based, Grain Based,
Lignocellulosic Biomass, Algal Biomass), By Purity (Denatured, Undenatured), By
Application (Fuel & Fuel Additives, Industrial Solvents, Disinfectant,
Personal Care, Beverage), By Region, Competition, Forecast and Opportunities,
2029, has evaluated the future
growth potential of India Ethanol Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the India Ethanol Market.”
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