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NEW YORK, Sept. 17, 2018 (GLOBE NEWSWIRE) -- The global cellulosic ethanol market is expected to witness a CAGR of 45.4%, and is projected to reach USD 4,254.2 Million by 2024. The growth is attributed to the high demand for green fuel across the globe. Depleting oil and gas reserves and environmental concerns open new avenues for sustainable alternative green fuels. Cellulosic ethanol as a potential alternate can capitalize with the integration of biotechnology thus, reducing costs. Moreover, low cost and plentiful feedstocks as a raw material helps in achieving higher yield, high octane and other required fuel properties, and is environmentally friendly. These all factors tends to support the overall market growth over the coming years.
Cellulosic ethanol is first generation bioethanol made from cellulosic biomass, including agricultural and forestry residues, municipal waste and woody crops. Cellulosic ethanol have gained traction and is considered as an alternate to fossil fuel for transportation with high economic, environmental and strategic attributes.
Cellulosic Ethanol; Green fuel to meet the demand of transportation industry over the forecast period
Transportation industry heavily depend on foosil fuels, the only alternative available to non-sustainable fossil fuels are biofuels. These fuels are compatible with current vehicles and blendable with conventional fuels. Cellulosic ethanol, yielding high cropland value, providing a much greater energy yield and greater pollution reduction are suitable alternate to petroleum fuels. Efforts are being directed to large-scale test experimentation for successful commercialization of cellulosic ethanol as a transportation fuel. Government supporting policies and investment programs, is expected to positively impact the cellulosic market growth over the forthcoming years.
Cellulosic Ethanol Market - Regional insight
North America is accounted to hold the largest share in the global market. Countries such as U.S. are at forefront of producing cellulosic ethanol on commercial scale. Companies developing cellulosic ethanol are working closely in integration with biotechnology companies to reduce the cost of ethanol production. Further, large investment and increasing number of plants in the region has led to speed up development of cellulosic ethanol to make it commercially viable on large scale. Given the stringent emission norms in Europe efforts are being put extensively to develop green fuel for transportation, resulting in more number of plant setups. This in turn has attracted more capital into the business for research and development providing thrust to the cellulosic ethanol market in the region. Brazil one of the leading region in the global ethanol market is running number of inititatives to stimulate cellulosic ethanol production from sugarcane biomass.
Browse full research report with TOC on “Global Cellulosic Ethanol Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024” at: https://www.energiasmarketresearch.com/global-cellulosic-ethanol-market-outlook/
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Key findings from the report:
The report segments cellulosic ethanol market on the basis of feedstock, coversion, end-use and region.
Global Cellulosic Ethanol Market, By Feedstock
Global Cellulosic Ethanol Market, By Conversion
Global Cellulosic Ethanol Market, By End-use
Global Cellulosic Ethanol Market, By Region
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