DUBLIN–(BUSINESS WIRE)–The “India Bioethanol Market, By Source, By Purity, By Application, By Region, Competition, Forecast & Opportunities, 2017-2027” report has been added to ResearchAndMarkets.com’s offering.
The Indian Bioethanol Market is anticipated to grow at an impressive CAGR of 17.44% to reach at USD 10644.31 million by 2027.
Bioethanol is a relatively low-cost alternative fuel that boasts less pollution and is readily available than unblended gasoline. As it is a product of molasses, grains and processed corn, Bioethanol also reduces the pressure to drill in environmentally sensitive places. Bioethanol production also supports farmers and creates domestic jobs as it is produced from domestically grown crops which helps in reducing dependence on foreign oil.
Though Bioethanol and other biofuels are often promoted as clean, low-cost alternatives to gasoline, Sugarcane farming, which is mostly used as raw material for producing Bioethanol in India, still has a harmful impact on the environment as Sugarcane is highly water intensive crop and its high cultivation is gradually leading to lowering of water table. Intensive use of fertilizers and pesticides used in farming also affect land productivity and soil’s water retention capacity.
Bioethanol demand has tripled in four years, but production capacity has only doubled. According to recent trends in the segment, Bioethanol production is witnessing steep rise due to mandatory blending of 20% Bioethanol in Gasoline by 2025 and 10% by 2022. Automobile companies are also looking forward to rollout of E20 material-compliant and E10 engine-tuned vehicles from April 2023.
Apart from its use as a fuel, Bioethanol’s demand is increasing extensively as a solvent in the manufacture of varnishes and perfumes, and as surface disinfectant whose demand was at peak during COVID-19 as it was used in manufacturing of hand sanitizers.
Favorable Policies by Government Drives the Market Growth
Government has set target of blending 10% Bioethanol till 2022 and 20% of it till 2025, in gasoline which will save at least. New policies like National biofuels policy, 2022 and Bioethanol Blended Petrol (EBP) program are seen to be the principal driver of the demand expansion of Bioethanol in India.
The EBP program aims is to address environmental concerns, reduce oil import bill and provide remunerative income to farmers. Currently, Bioethanol blending level in petrol is around 8.5%. Under the EBP program the government has already reintroduced the administered price mechanism for Bioethanol procurement, allowing Bioethanol production from multiple feedstocks like heavy molasses, sugarcane juice, sugar, sugar syrup, damaged food grains, maize and surplus rice stocks with Food Corporation of India (FCI).
Surplus Raw Material Available Fuels the Market Growth
To increase production of fuel grade Bioethanol and to achieve blending targets, the Government of India has allowed use of maize and rice with FCI for production of Bioethanol.
Production of Bioethanol would not only facilitate diversion of excess sugar to Bioethanol but would also encourage farmers to diversify their crops to cultivate particularly maize/corn which requires less water. It would enhance production of Bioethanol from various feed stocks thereby, facilitate in achieving blending targets of Bioethanol with petrol and would reduce import dependency on crude oil.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Indian Bioethanol Market.
Report Scope:
India Bioethanol Market, By Source:
India Bioethanol Market, By Purity:
India Bioethanol Market, By Application:
India Bioethanol Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/5ndc7z
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