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The global bioethanol market was worth a lot of money – about USD 34,059.3 million – in 2017. People think it will keep growing at about 4.61% every year and might reach USD 44,396.5 million by the end of 2023. This is a big market with a lot of liquid – around 86,269.4 thousand tons in 2017 – and it might grow to 105,797.1 thousand tons by 2023.
Why is this happening? Well, people are worried about the environment, and they want to reduce greenhouse gas emissions. Rules about mixing bioethanol with regular fuel are also making the bioethanol market grow. Plus, there are new and better kinds of bioethanol being made, which is helping the market too.
Now, let's break it down a bit. Bioethanol comes from different things like maize, wheat, industrial beets, sugarcane, cereals & starch, and other stuff. The biggest chunk – 42.7% – comes from maize. In 2017, the maize part of the market was worth USD 14,535.5 million, and it might grow to USD 19,795.1 million by 2023. That's a lot of money! In terms of the amount of liquid, it was 39,074.0 thousand tons in 2017, and it might grow to 49,915.9 thousand tons by 2023.
Now, how do people use all this bioethanol? They use it for transportation (like in cars), food & beverages, industry, making power, medical things, and other stuff. The biggest chunk of the market – 79.1% – goes to transportation. In 2017, it was worth USD 26,947.3 million, and it might grow to USD 35,436.7 million by 2023. That's a lot of money too! In terms of the amount of liquid, it was 68,373.6 thousand tons in 2017, and it might grow to 84,561.1 thousand tons by 2023.
Right now, the biggest player in this game is North America. In 2017, they had 58.0% of the market, mainly because of rules in the US saying that cars and trucks need to have some bioethanol mixed with their fuel. The market in North America was worth USD 19,743.0 million in 2017, and it might grow to USD 25,987.6 million by 2023. In terms of the amount of liquid, it was 51,200.8 thousand tons in 2017, and it might grow to 63,377.7 thousand tons by 2023. So, North America is a big player in this big market.
Yeast Market Highlights:
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