PH demand to steer ethanol market growth | Inquirer Business

PH demand to steer ethanol market growth

/ 05:24 AM October 06, 2017

The Philippines, along with China and India, is tipped to drive the global ethanol fuel market growth of 7 percent yearly to reach $115.7 billion by 2025, according to Grand View Research Inc.

The United States-based firm said in a report the Asia-Pacific region was expected to see a “fast-paced growth” during the forecast period.

“China, India and the Philippines are the key countries that are considered to positively impact the industry growth in the future,” the company said.

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“Significant blending mandates in Australia, China, and Philippines are considered to drive the market demand during the forecast period,” Grand View added.

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In terms of volume, Grand View said the sugar-based segment of the global ethanol fuel market was expected to rise at a mean rate of 5.4 percent yearly from 2017 to 2025.

In terms of revenue, the product demand was expected to reach $24.4 billion by the end of 2025, the firm added.

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“Technological advancement in the production of ethyl alcohol … is expected to propel the industry growth during the forecast period,” Grand View added.

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TAGS: Asia-Pacific Region, United States

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