Technavio says Resource Scarcity Will Increase the Demand for Bio-Alcohols through 2019
May 21, 2015 | By Business Wire News
LONDON
The use of bio-alcohols as biofuel is expected to contribute to a CAGR of 9% from 2015-2019 in the global bio-alcohols market, according to a new report from research firm Technavio.
About the Report
It has been projected that in the next decade, worldwide crude oil reserves will be depleted, which will result in major supply constraints on the basic raw materials required for traditional petroleum-based production of alcohols.
“Demand for bio-based production of alcohols is on the rise, as it uses renewable raw materials like vegetable oils, animal fats, sugar and starch,” says Faisal Ghaus, Vice President of Technavio.
“Large reserves of bio-based feedstock are expected to be available in the future, especially in the APAC region.”
The new industry report by Technavio also emphasizes growing awareness of the need for greener environments and sustainable development, which is expected to help the market expand.
“Volatile changes in the prices of petroleum-based raw materials and increased demand for sustainable products have encouraged manufacturers of chemicals to use bio-based raw materials for the production of alcohols,” says Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and the growth prospects of the global bio-alcohols market from 2015-2019. To calculate the market size, we have considered the revenue generated through the sales of bio-alcohol products.
Key Information Covered in the Report:
- Key Vendors:
- BioAmber
- Braskem
- Cargill
- Myriant
- Market Growth Drivers:
- Scarcity of non-renewable resources
- For a full detailed list, view our report.
- Market Challenges:
- Limited availability of raw materials
- For a full detailed list, view our report.
- Market Trends:
- Environmental awareness
- For a full detailed list, view our report.
Technaviocurrently has more than 3000 market research reports on a huge range of topics, including 200+ reports on the chemical market:
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150521005108/en/
Technavio Research
Jes Ellacott, US: +1 630-333-9501
UK: +44 208 123 1770
Media & Marketing Executive
www.technavio.com
media@technavio.com
