This report describes and explains the fuel ethanol market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global fuel ethanol market reached a value of nearly $90.43 billion in 2024, having grown at a compound annual growth rate (CAGR) of 11.51% since 2019. The market is expected to grow from $90.43 billion in 2024 to $123.27 billion in 2029 at a rate of 6.39%. The market is then expected to grow at a CAGR of 6.15% from 2029 and reach $166.17 billion in 2034.
Growth in the historic period resulted from the steady expansion of the automotive industry, expansion of the chemical and pharmaceutical industries, expansion of oil and gas industry, favorable government initiatives and policies and expansion of agriculture industry. Factors that negatively affected growth in the historic period were economic uncertainties or downturns.
Going forward, the increasing demand for renewable energy, increasing urbanization, rising consumption of ethanol in the automobile industry and economic growth in emerging markets will drive the growth. Factor that could hinder the growth of the fuel ethanol market in the future include high production costs.
The global fuel ethanol market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 9.19% of the total market in 2023. Cargill Incorporated was the largest competitor with a 3.45% share of the market, followed by British Petroleum Company plc (BP) plc with 1.96%, Archer Daniels Midland Company (ADM) with 0.99%, Green Plains Inc with 0.88%, Valero Energy Corporation with 0.64%, INEOS Group Limited with 0.47%, Braskem SA with 0.35%, Glacial Lakes Energy LLC with 0.19%, Alto Ingredients Inc with 0.18% and POET LLC with 0.08%.
North America was the largest region in the fuel ethanol market, accounting for 54.95% or $49.69 billion of the total in 2024. It was followed by South America, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the fuel ethanol market will be Asia Pacific and South America where growth will be at CAGRs of 12.22% and 5.85% respectively. These will be followed by Western Europe and North America where the markets are expected to grow at CAGRs of 5.84% and 5.79% respectively.
The fuel ethanol market is segmented by product into starch based, sugar based and cellulosic. The starch based market was the largest segment of the fuel ethanol market segmented by product, accounting for 60.02% or $54.27 billion of the total in 2024. Going forward, the cellulosic segment is expected to be the fastest growing segment in the fuel ethanol market segmented by product, at a CAGR of 7.39% during 2024-2029.
The fuel ethanol market is segmented by source into synthetic and natural. The natural market was the largest segment of the fuel ethanol market segmented by source, accounting for 91.16% or $82.43 billion of the total in 2024. Going forward, the natural segment is expected to be the fastest growing segment in the fuel ethanol market segmented by source, at a CAGR of 6.50% during 2024-2029.
The fuel ethanol market is segmented by raw material into maize, wheat, sugarcane and other raw materials. The maize market was the largest segment of the fuel ethanol market segmented by raw material, accounting for 54.19% or $49.0 billion of the total in 2024. Going forward, the sugarcane segment is expected to be the fastest growing segment in the fuel ethanol market segmented by raw material, at a CAGR of 8.00% during 2024-2029.
The fuel ethanol market is segmented by application into conventional vehicles and flexible fuel vehicles. The conventional vehicles market was the largest segment of the fuel ethanol market segmented by application, accounting for 89.35% or $80.79 billion of the total in 2024. Going forward, the flexible fuel vehicles segment is expected to be the fastest growing segment in the fuel ethanol market segmented by application, at a CAGR of 7.54% during 2024-2029.
The fuel ethanol market is segmented by end-user into automotive, oil and gas and other end users. The automotive market was the largest segment of the fuel ethanol market segmented by end-user, accounting for 64.64% or $58.45 billion of the total in 2024. Going forward, the automotive segment is expected to be the fastest growing segment in the fuel ethanol market segmented by end-user, at a CAGR of 6.94% during 2024-2029.
The top opportunities in the fuel ethanol markets segmented by product will arise in the starch based segment, which will gain $21.16 billion of global annual sales by 2029. The top opportunities in the fuel ethanol markets segmented by source will arise in the natural segment, which will gain $30.52 billion of global annual sales by 2029. The top opportunities in the fuel ethanol markets segmented by raw material will arise in the maize segment, which will gain $15.17 billion of global annual sales by 2029. The top opportunities in the fuel ethanol markets segmented by application will arise in the conventional vehicles segment, which will gain $28.61 billion of global annual sales by 2029. The top opportunities in the fuel ethanol markets segmented by end-user will arise in the automotive segment, which will gain $23.28 billion of global annual sales by 2029. The fuel ethanol market size will gain the most in the USA at $13.02 billion.
Market-trend-based strategies for the fuel ethanol market include focus on new ethanol-to-SAF technology enhances the commercial viability of sustainable aviation fuel, focus on advanced flex-fuel engine enables fully ethanol-operated MPV, focus on new grain-based ethanol projects signal strategic entry into Brazil and focus on strategic partnerships driving innovation in fuel ethanol.
Player-adopted strategies in the fuel ethanol market include focus on strengthening business capabilities through strategic partnerships and focus on strategic acquisitions to support growth to develop ethanol assets in new regions.
To take advantage of the opportunities, the analyst recommends the fuel ethanol companies to focus on ethanol-to-sustainable aviation fuel technology, focus on advanced flex-fuel engines, focus on grain-based ethanol projects, focus on starch-based ethanol, focus on natural ethanol, focus on sugarcane ethanol, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships, provide competitively priced offerings, continue to use B2B promotions, focus on flexible fuel vehicles and focus on automotive ethanol.
The global fuel ethanol market reached a value of nearly $90.43 billion in 2024, having grown at a compound annual growth rate (CAGR) of 11.51% since 2019. The market is expected to grow from $90.43 billion in 2024 to $123.27 billion in 2029 at a rate of 6.39%. The market is then expected to grow at a CAGR of 6.15% from 2029 and reach $166.17 billion in 2034.
Growth in the historic period resulted from the steady expansion of the automotive industry, expansion of the chemical and pharmaceutical industries, expansion of oil and gas industry, favorable government initiatives and policies and expansion of agriculture industry. Factors that negatively affected growth in the historic period were economic uncertainties or downturns.
Going forward, the increasing demand for renewable energy, increasing urbanization, rising consumption of ethanol in the automobile industry and economic growth in emerging markets will drive the growth. Factor that could hinder the growth of the fuel ethanol market in the future include high production costs.
The global fuel ethanol market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 9.19% of the total market in 2023. Cargill Incorporated was the largest competitor with a 3.45% share of the market, followed by British Petroleum Company plc (BP) plc with 1.96%, Archer Daniels Midland Company (ADM) with 0.99%, Green Plains Inc with 0.88%, Valero Energy Corporation with 0.64%, INEOS Group Limited with 0.47%, Braskem SA with 0.35%, Glacial Lakes Energy LLC with 0.19%, Alto Ingredients Inc with 0.18% and POET LLC with 0.08%.
North America was the largest region in the fuel ethanol market, accounting for 54.95% or $49.69 billion of the total in 2024. It was followed by South America, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the fuel ethanol market will be Asia Pacific and South America where growth will be at CAGRs of 12.22% and 5.85% respectively. These will be followed by Western Europe and North America where the markets are expected to grow at CAGRs of 5.84% and 5.79% respectively.
The fuel ethanol market is segmented by product into starch based, sugar based and cellulosic. The starch based market was the largest segment of the fuel ethanol market segmented by product, accounting for 60.02% or $54.27 billion of the total in 2024. Going forward, the cellulosic segment is expected to be the fastest growing segment in the fuel ethanol market segmented by product, at a CAGR of 7.39% during 2024-2029.
The fuel ethanol market is segmented by source into synthetic and natural. The natural market was the largest segment of the fuel ethanol market segmented by source, accounting for 91.16% or $82.43 billion of the total in 2024. Going forward, the natural segment is expected to be the fastest growing segment in the fuel ethanol market segmented by source, at a CAGR of 6.50% during 2024-2029.
The fuel ethanol market is segmented by raw material into maize, wheat, sugarcane and other raw materials. The maize market was the largest segment of the fuel ethanol market segmented by raw material, accounting for 54.19% or $49.0 billion of the total in 2024. Going forward, the sugarcane segment is expected to be the fastest growing segment in the fuel ethanol market segmented by raw material, at a CAGR of 8.00% during 2024-2029.
The fuel ethanol market is segmented by application into conventional vehicles and flexible fuel vehicles. The conventional vehicles market was the largest segment of the fuel ethanol market segmented by application, accounting for 89.35% or $80.79 billion of the total in 2024. Going forward, the flexible fuel vehicles segment is expected to be the fastest growing segment in the fuel ethanol market segmented by application, at a CAGR of 7.54% during 2024-2029.
The fuel ethanol market is segmented by end-user into automotive, oil and gas and other end users. The automotive market was the largest segment of the fuel ethanol market segmented by end-user, accounting for 64.64% or $58.45 billion of the total in 2024. Going forward, the automotive segment is expected to be the fastest growing segment in the fuel ethanol market segmented by end-user, at a CAGR of 6.94% during 2024-2029.
The top opportunities in the fuel ethanol markets segmented by product will arise in the starch based segment, which will gain $21.16 billion of global annual sales by 2029. The top opportunities in the fuel ethanol markets segmented by source will arise in the natural segment, which will gain $30.52 billion of global annual sales by 2029. The top opportunities in the fuel ethanol markets segmented by raw material will arise in the maize segment, which will gain $15.17 billion of global annual sales by 2029. The top opportunities in the fuel ethanol markets segmented by application will arise in the conventional vehicles segment, which will gain $28.61 billion of global annual sales by 2029. The top opportunities in the fuel ethanol markets segmented by end-user will arise in the automotive segment, which will gain $23.28 billion of global annual sales by 2029. The fuel ethanol market size will gain the most in the USA at $13.02 billion.
Market-trend-based strategies for the fuel ethanol market include focus on new ethanol-to-SAF technology enhances the commercial viability of sustainable aviation fuel, focus on advanced flex-fuel engine enables fully ethanol-operated MPV, focus on new grain-based ethanol projects signal strategic entry into Brazil and focus on strategic partnerships driving innovation in fuel ethanol.
Player-adopted strategies in the fuel ethanol market include focus on strengthening business capabilities through strategic partnerships and focus on strategic acquisitions to support growth to develop ethanol assets in new regions.
To take advantage of the opportunities, the analyst recommends the fuel ethanol companies to focus on ethanol-to-sustainable aviation fuel technology, focus on advanced flex-fuel engines, focus on grain-based ethanol projects, focus on starch-based ethanol, focus on natural ethanol, focus on sugarcane ethanol, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships, provide competitively priced offerings, continue to use B2B promotions, focus on flexible fuel vehicles and focus on automotive ethanol.
Major Market Trends
- New Ethanol-To-SAF Technology Enhances the Commercial Viability of Sustainable Aviation Fuel
- Advanced Flex-Fuel Engine Enables Fully Ethanol-Operated MPV
- New Grain-Based Ethanol Projects Signal Strategic Entry Into Brazil
- Strategic Partnerships Driving Innovation in Fuel Ethanol
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Fuel Ethanol Market - Macro Economic Scenario
9 Global Fuel Ethanol Market Growth Analysis
10 Global Fuel Ethanol Market Segmentation
11 Fuel Ethanol Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 Fuel Ethanol Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Fuel Ethanol Global Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global fuel ethanol market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for fuel ethanol? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The fuel ethanol market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider fuel ethanol market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product, by source, by raw material, by application and by end-user
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- the report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the fuel ethanol market.
- Global Market Size and Growth- Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by product, by source, by raw material, by application and by end-user in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for fuel ethanol providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Product: Starch Based; Sugar Based; Cellulosic2) by Source: Synthetic; Natural
3) by Raw Material; Maize; Wheat; Sugarcane; Other Raw Materials
4) by Application: Conventional Vehicles; Flexible Fuel Vehicles
5) by End-User: Automotive; Oil and Gas; Other End-Users
Key Companies Profiled: Cargill Incorporated; British Petroleum Company plc (BP) plc; Archer Daniels Midland Company (ADM); Green Plains Inc.; Valero Energy Corporation
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa.
Time Series: Five years historic and ten years forecast..
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; fuel ethanol indicators comparison..
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this Fuel Ethanol market report include:- Cargill Incorporated
- British Petroleum Company plc (BP) plc
- Archer Daniels Midland Company (ADM)
- Green Plains Inc.
- Valero Energy Corporation
- INEOS Group Limited
- Braskem S.A.
- Glacial Lakes Energy LLC
- Alto Ingredients Inc.
- POET LLC
- Huaibei Mining Group
- Tanxin Technology Co., LTD.
- Boeing
- Mitsui & Co., Ltd.
- Taiyo Oil Co., Ltd.
- Mitsubishi Chemical Group
- Jet Zero
- Wilmar Sugar
- Manildra Group
- LanzaJet, Inc.
- Clean Energy Finance Corporation
- Oil and Natural Gas Corporation Limited
- HPCL Biofuels Limited
- Stake Technologies
- Range Fuels
- Godavari Biorefineries Ltd.
- Panila Chem Limited
- Shirke Energy
- Jakson Green
- Shree Renuka Sugars
- Marquis Energy
- Kanoria Chemicals & Industries Ltd. (KCI)
- COFCO Biotechnology
- Cosmo Oil Co., Ltd
- GS Caltex
- SK Innovation Co., Ltd.
- Lotte Fine Chemical
- Pertamina Group
- LyondellBasell Industries Holdings B.V.
- Sasol Limited
- Flint Hills Resources
- CropEnergies AG
- Abengoa Bioenergia SA
- Solvay
- Tereos
- KFS Biodiesel GmbH & Co KG
- Pannonia Bio Zrt.
- Cristal Union Group
- Shell plc
- Alcogroup
- Verbio SE
- Syclus BV
- Albioma
- Neste
- LanzaTech Global
- Metacon AB
- ORLEN Group
- PKN Orlen
- Clariant
- Rosneft
- Bioagra S.A
- Rompetrol
- Integrated Grain Processors Co-operative (IGPC)
- Gevo, Inc.
- LG Chem, Ltd.
- United Cooperative
- Indigo Ag
- LanzaJet
- Lummus Technology
- Honeywell
- Greenfield Global
- IGPC Ethanol Inc.
- Husky Energy
- Terra Grain Fuels
- Destilmex S.A. de C.V.
- Praj Industries
- Raízen
- BSBIOS
- BP Bunge Bioenergia
- Atvos Agroindustrial
- Grupo São Martinho
- Aramco
- Emirates National Oil Company
- Zagros Green Fuel Development Company
- TARKIM Tarımsal Kimya Teknolojileri AŞ
- Konya Seker
- Lootah Biofuels
- Ethanol Company Limited (EthCo)
- Aemetis Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 307 |
| Published | May 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 90.43 Billion |
| Forecasted Market Value ( USD | $ 166.17 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 90 |
