India Bioethanol Market to Grow with a CAGR of 17.44% through 2027
Supportive Government
policies and increasing demand to reduce reliance on foreign to drive the
demand of Bioethanol market through 2027
According to TechSci Research
report, “India Bioethanol Market- By Region, Competition
Forecast and Opportunities, 2017-2027”, the India Bioethanol market
stood at USD3805.70 million in 2021 and is projected to grow at a CAGR of 17.44%
through 2027 to reach USD USD10644.31 million by 2027. The government is
adopting several plans with the objective of ensuring the energy security of
the nation, that would tremendously increase the overall production of
bioethanol. To gather the comprehensive data regarding raw material adequacy, a
study of the capacity of sugar and molasses-based feedstocks was undertaken. It
was discovered that there is a massive quantity of sugar-based feedstock
accessible, which can facilitate the production process for bioethanol.
Diversifying the production of sugarcane for bioethanol can undoubtedly assist
the nation in lowering its reliance on imports from major oil-producing
countries.
The market has witnessed
a substantial rise in production volume beginning in 2018 after the government
mandated that ethanol-blend fuel to be used for transportation. India continues
to import ethanol despite recent increases in domestic output (for all end
uses). Denatured ethanol is primarily imported into India from the United
States. China, South Korea, and the Netherlands were the only suppliers who
supplied seldom between 2017 and 2021.
The spread of the
pandemic and the imposition of strict lockdown and restrictions across the
country to contain the spread of the virus adversely impacted the India Bioethanol
Market. The Bioethanol market is majorly import driven with only 20%-30% of
total Bioethanol being produced in-house. The pandemic crisis led to an
imposition of restrictions on imports and exports. This led to disruption in
the supply chain which created price volatility.
Until a few years back,
Grain-based ethanol production in India was taking place at a minimal capacity,
raising a thoughtful question in front of the government about the
affordability of Bioethanol consumption across the population. The government
thought thoroughly about the prevalent challenges like climate change, heavy
crude imports, and the pathetic condition of farmers. It came up with certain
plans, which included establishing grain-based distilleries in deficit states
like the North-Eastern States, the Southern States like Tamil Nadu, Andhra
Pradesh, Telangana, Bihar, etc. Due to policy changes made by the Center, the
production capacity for grain-based and molasses-based distilleries has increased
by one and half times in the past five years.
Browse over
35 market data Figures and 18 Tables spread through 124 Pages and an
in-depth TOC on "India Bioethanol Market"
The India
Bioethanol Market is
segmented into Source, Purity, Application, and competitive landscape. Based on
Source, the market is divided into Sugar and molasses based, Grain based, and
Lignocellulosic Biomass. Sugar and molasses based led the market with a market
share of around 85% of the overall market based on Source in 2021. With a total
area of 5 million hectares, sugarcane production in India utilizes about 2.57
percent of the country's total agricultural land. Through the cooperative, it
indirectly benefits more than 60 lakh sugarcane producers and several others.
With a projected yield of 133 million tonnes in 2021, UP is the top producer of
sugarcane in the world. By taking advantage of the availability of surplus
sugarcane as a raw feedstock material for ethanol production, industry
participants intend to diversify the sugarcane market. However, as a result of
government-initiated regulatory reforms, the capacity of molasses-based
distilleries has increased by a factor of two over the past six years.
Major
market players operating in the India Bioethanol Market are:
·
Bajaj Hindusthan Sugar Ltd.
·
Triveni Engineering & Industries Ltd.
·
Gulshan Polyols Ltd
·
Ankur Biochem Pvt. Ltd.
·
India Glycols Ltd
·
Novozymes South Asia Private Limited
·
Danisco A/S
·
Jiangsu Boli Bioproducts Company Limited
·
Advanced Enzyme Technologies Ltd.
·
DSM Nutritional Products India Pvt. Ltd.
·
Balrampur Chini Mills Limited
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“As a result of the
government's declaration of a 20 percent fuel blending plan, the ethanol
production is estimated to rise two to threefold. The usage of Bioethanol as an
automotive fuel is escalating, which is a primary factor of the development.
The government is taking a strong stance against ethanol production from solid
waste and biomass to limit greenhouse gas emissions, and this is probably going
to be the main source of ethanol production in the future, fueling the growth
of the India Bioethanol market through 2027”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India
Bioethanol Market By Source (Sugar & Molasses Based,
Grain Based, and Lignocellulosic Biomass), By Purity (Denatured v/s Undenatured),
By Application (Fuel & Fuel Additives, Disinfectant, Industrial Solvents,
Beverages, Personal Care, and Others), By Region, Competition, Forecast &
Opportunities, 2017-2027F”, has evaluated the future
growth potential of India Bioethanol 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 India Bioethanol Market.
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