Where Will The Bio-Alcohol Market Go Next?

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Bio-Alcohol Market

• The global bio-alcohol market is expected to grow
  at a CAGR of 6.6 during the forecast period
  (20192026) to attain a value of USD 13498.9
  million by 2026.

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Bio-alcohols, comprising bio-ethanol,
bio-methanol, bio-butanol, and bio-propanol, are
commonly used as fuels. They are produced by
microorganisms and enzymes through the
fermentation of starches or sugars or cellulose.
The two forms of bio-alcohols are first
generation and second generation.
First-generation are made from crops such as
sugar starch and vegetables, which can be used
for human consumption. Second-generation are made
from products that cannot be consumed by human
beings such as stems, wood, and branches.Based
on application, the bio-alcohol market segmented
into transportation, medical, power generation,
and others. The transportation segment is likely
to dominate the market during the forecast
period, owing to the growing use of product in
the sector, due to its benefits such as enhanced
efficiency and optimal performance. Moreover,
increasing population and increasing demand for
vehicles are other factors expected to bolster
market growth during the forecast period.
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In North America, government rules and
regulations regarding the use of renewable
resources have been increasing with a rise in
crude oil prices and carbon dioxide emission.
Governments in North America are offering support
in the form of loan guarantees to those who are
manufacturing high-performance bio-based
chemicals.Some of the key players in the
bio-alcohol market are BASF SE, Fulcrum Bioenergy
Inc, Cool Planet Energy Solutions, Harvest Power,
Inc., Myriant Corporation, Mascoma LLC, Butamax
Advanced Biofuels LLC, E.I. du Pont de Nemours
Co., Red Rock BioFuels LLC, and Mitsubishi
Chemical Corporation.
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