India Ethanol Market Size to Surpass Around US$ 6.83 Billion 2030, Recording a CAGR of 15.9% | Report by CoherentMI

BURLINGAME, Calif., Feb. 16, 2024 /PRNewswire/ -- According to CoherentMI, India Ethanol market was valued at US$ 2.43 Billion in 2023 and is anticipated to reach a value of US$ 6.83 Billion by 2030 at a CAGR of 15.9% during forecast period 2023 and 2030.

Market Dynamics:

The India Ethanol Market is expected to witness high growth due to the increasing demand for biofuels. Ethanol is a renewable source of energy and is primarily used as a feedstock for biodiesel production. The growing concern for energy security and environmental sustainability is driving the demand for biofuels in India. Additionally, the government initiatives and policies promoting the use of biofuels, such as the National Policy on Biofuels, are further fueling the growth of the ethanol market in India.

Furthermore, the rise in the global crude oil prices and the need for reducing carbon emissions are compelling the adoption of biofuels in various sectors, including transportation and power generation. Ethanol, being a clean and renewable fuel, is gaining traction as a viable alternative to traditional fossil fuels. These factors are expected to drive the growth of the India Ethanol Market during the forecast period.

India Ethanol Market Report Snapshot:

Report Coverage	Details
Study Period	2023 - 2030
Base Year of Estimation	2022
CAGR	15.9 %
Largest Market	India
Market Concentration	High
Major Players	Praj Industries, Triveni Engineering & Industries Ltd, Shree Renuka Sugars, Balrampur Chini Mills Ltd., Bajaj Hindusthan Sugar Ltd. and Among Others.
Segments Covered	By Source, By End User, By Grade, By Blending, By Application Method, By Region