Market Size of Bio-alcohols Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 8.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bio-Alcohol Market Analysis
The global bio-alcohols market is expected to grow with a CAGR greater than 8% during the forecast period. One of the major factors driving the market is the growing growing demand for bio-based products. However, the declining automotive production is hindering the growth of the market studied.
- Asia-Pacific is expected to account for the highest growth rate during the forecast period.
- Among the product types, bio-ethanol is likely to account for the highest market share during the forecast period.
Bio-Alcohol Industry Segmentation
The bio-alcohols market report includes:
| Product Type | |
| Bio-methanol | |
| Bio-ethanol | |
| Bio-butanol | |
| Bio-BDO | |
| Other Product Types |
| Application | |
| Transportation | |
| Construction | |
| Electronics | |
| Pharmaceutical | |
| Other Applications |
| Geography | ||||||||
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Bio-alcohols Market Size Summary
The bio-alcohol market is poised for significant expansion, driven by the increasing demand for bio-based products. Bio-ethanol, in particular, is expected to capture a substantial portion of the market share due to its advantages as a high-octane fuel alternative and its applications in various sectors such as transportation, energy, and medical industries. The blending of bio-ethanol with petrol is seen as a strategic move to extend the longevity of oil reserves and enhance global fuel security. Its biodegradability and lower toxicity compared to fossil fuels further bolster its demand, positioning bio-ethanol as a dominant force in the market over the forecast period.
The Asia-Pacific region is anticipated to experience the fastest growth in the bio-alcohol market, fueled by the expansion of end-user industries like construction and electronics. The region's large and growing population, coupled with rising middle-class incomes, is driving demand for high-performance products. Countries such as China, India, and Indonesia are heavily investing in construction and infrastructure, which supports market growth. However, the declining automotive industry poses a potential challenge to the market's expansion in this region. The market is moderately consolidated, with key players like BASF SE, Asahi Kasei Corporation, INVISTA, Evonik Industries AG, and Toray Industries, Inc. holding significant shares.
Bio-alcohols Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand for Bio-based Products
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Declining Automotive Production
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1.2.2 Impact of COVID-19 Pandemic
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1.3 Industry Value-chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Bio-methanol
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2.1.2 Bio-ethanol
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2.1.3 Bio-butanol
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2.1.4 Bio-BDO
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2.1.5 Other Product Types
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2.2 Application
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2.2.1 Transportation
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2.2.2 Construction
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2.2.3 Electronics
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2.2.4 Pharmaceutical
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2.2.5 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 ASEAN Countries
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Bio-alcohols Market Size FAQs
What is the current Bio-alcohols Market size?
The Bio-alcohols Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in Bio-alcohols Market?
BASF SE, Asahi Kasei Corporation, INVISTA, Evonik Industries AG and Toray Industries, Inc. are the major companies operating in the Bio-alcohols Market.
