Dublin, Nov. 02, 2020 (GLOBE NEWSWIRE) -- The "Bio-alcohols Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
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 demand for bio-based products. However, the declining automotive production is hindering the growth of the market studied.
Key Market Trends
Bio-ethanol to Dominate the Market
Bio-ethanol offers higher-octane fuel alternative and is also used for energy oriented applications, such as power generation.
Its applications in trucks, buses, airplanes, medical industry, and fuel cells are to lift the growth in the market.
The blending of bio-ethanol with petrol can increase the life span of diminishing oil supplies and ensure greater fuel security globally.
The demand for bio-ethanol is also boosted by its biodegradability and low toxicity than fossil fuels.
Hence, owing to the above-mentioned factors, bio-ethanol is likely to dominate the market studied during the forecast period.
Asia-Pacific to Witness the Highest Growth Rate
Asia Pacific region is expected to be the fastest-growing market for bio-alcohols owing to the ongoing growth in the end-user industries like construction, and electronics.
The region has the presence of a large population and is witnessing a continuously growing demand for high-performance products with an increase in the income of the middle class.
The countries in the region including China, India, and Indonesia are investing highly in the construction and infrastructure projects.
However, the declining automotive industry may hinder the demand for bio-alcohols in the region in the coming years.
Hence, owing to the above-mentioned factors, Asia-Pacific is likely to witness the highest growth rate during the forecast period.
The global bio-alcohols market is moderately consolidated as the market of the market share is divided among few players. Some of the key players in the market include BASF SE, Asahi Kasei Corporation, INVISTA, Evonik Industries AG, and Toray Industries, Inc., among others.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand for Bio-based Products
4.1.2 Other Drivers
4.2.1 Declining Automotive Production
4.2.2 Impact of COVID-19 Pandemic
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Product Type
5.1.5 Other Product Types
5.2.5 Other Applications
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Mitsubishi Chemical Corporation
Valero Marketing and Supply Company.
For more information about this report visit https://www.researchandmarkets.com/r/5k28xt
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