Technavio’s latest market research report on the global bioethanol market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global bioethanol market will grow at a CAGR of close to six percent during the forecast period. The increasing demand for the continuous supply of clean fuel is a major factor driving the market’s growth.
Alternative fuels are being preferred due to the uncertainty in global energy security, fuel prices, and the continued rise in emission levels. In several commercial industries, the demand for clean fuels is increasing as they help reduce the carbon emission levels. Biofuels, such as bioethanol, are considered as renewable clean fuels as they are derived from renewable sources such as energy crops, cellulosic plants, and carbohydrate-containing organic products. Bioethanol is largely used as an alternative to conventional fuels and does not produce additional carbon emission.
(Source: Technavio)