Knowledge Sourcing Intelligence announces the publication of a new report on “Global Ethanol Market - Forecasts from 2020 to 2025” to their offering.
Growing demand for clean fuel, the stratospheric demand for disinfectants manufactured from ethanol, and potential application in a diverse range of products which are inclusive of but not limited to personal care and beverages, among others, are poised to result in healthy market growth.
As per the report, the global market pertaining to Ethanol Market is expected to reach USD 43.136 billion in 2025 from USD38.826 billion in 2019.
The global ethanol market has been brimming with a myriad of developments that not only have been instrumental to sustain the growth trajectory of the market but also underscores market uncertainties and divestment from the ethanol industry, are being inventoried below:
June 2019 – Acquisition
The acquisition of the corn ethanol plant and grain malting operation in Fulton, New York from Sunoco LP (NYSE: SUN) was announced by a diversified innovation and technology holding company Attis Industries Inc (NASDAQ: ATIS). The plant is pivotal to the latter’s expanding technology portfolio as the site is developed into a state-of-the-art Green Tech campus, making the acquisition of the plant an important milestone for Attis Industries Inc facilitating its aspirations to emerge as a notable contributor to the global renewable fuel market.
November 2019 – Environmental Clearance for Ethanol Plant establishment
In line with the Government of India’s commitment towards promoting the use of environmentally friendly products, the Ministry of Environment, Forest and Climate Change has granted environment clearance to Indian Oil Corporation Limited (NSE: IOC) permitting the construction of Rs 766-crore 2G ethanol plant in the district of Panipat in Haryana. Besides the government’s commitment mentioned above, the Honorable Union Environment Minister Prakash Javadekar had also said that this project would also facilitate the fulfillment of the government’s goal of doubling farmers’ income.
December 2019 – Completion of Joint Venture
The Brazilian bioenergy joint venture completion called BP Bunge Bioenergia was announced by BP plc (LON: BP) and Bunge Ltd (NYSE: BG) which combines their r Brazilian bioenergy and sugarcane ethanol businesses. This strategic decision was in light of the growing global initiative towards the decarbonization of transportation making BP Bunge Bioenergia the 2nd largest operator by effective crushing capacity in the Brazilian bioethanol market.
July 2020 – High-Quality Alcohol Production Capacity Expansion
A leading producer and marketer of high-quality alcohol products and low-carbon renewable fuels based out of the USA called the Pacific Ethanol Inc (NASDAQ: PEIX) had announced a production capacity expansion of USP grade high-quality alcohol at its Pekin, Illinois facility by 30 million gallons per year to cater to the surging demand for USP alcohol used in sanitizers and disinfectants.
December 2020 - Asset Purchase Agreement
An asset purchase agreement has been concluded between Green Plains Hereford LLC the subsidiary of Green Plains Inc (NASDAQ: GPRE) and Hereford Ethanol Partners, L.P were the sale of its 100-million-gallon ethanol plant at Hereford, Texas for $39 million, along with working capital, and an earnout provision amounting to $75 million associated with particular value enhancement opportunities, that includes future earnings from Low Carbon Fuel Standard credits.
December 2020 – Tariff Imposition on Brazil Ethanol Imports form the US
Despite the demand for Brazilian fuel was hindered by COVID 19, there has been a reported reduction of domestic supply of anhydrous ethanol during 2020 which necessitates imports to respond to the demand during the 1st quarter of 2021. Despite the demand, all imports of ethanol into Brazil from the USA have been reported to be subjected to a 20% tariff subsequent to the expiry of the Brazilian quota in December 2020 which allowed tariff-free imports of 187,500 cu m of US product. It also because in spite of the import quota extension from September 14, 2020, to December 14 2020 which had the potential to facilitate 187,500 cu m, only 31% of the total quota free of 20% import tax had entered the country which was majorly driven by demand uncertainties and steep depreciation of the Brazilian real against the US dollar that occluded import arbitrage also for the quota market.
As a part of the report, the major players operating in the global ethanol market, which have been covered are ADM, Bunge North America, Inc., Cargill, Incorporated, Gevo, Green Plains Inc., Greenfield Global, Jubilant Life Sciences Limited, Kanoria Chemicals & Industries Ltd., Mitsubishi Chemical Corporation andPacific Ethanol, Inc.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-ethanol-market
This report segmented the global ethanol market on the basis following terms