The bio alcohol market is growing due to increase in scarcity of non renewable resources and rise in crude oil prices. The fastest growing problem for the environment is the cars emitting carbon dioxide (CO2) and the green house effect. Rise in demands of bio fuels from emerging regions have also opened up opportunities for the bio alcohol market to grow in the coming years.
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Bio alcohols are sustainable organic chemicals owing essential physiological properties through the fermentation of cellulose or sugar. Bio alcohols are eco friendly in nature and used in applications such as transportation as an alternative to gasoline. Bio alcohol production process property to reduce the carbon footprint is becoming an opportunity for the bio alcohol market to grow at a considerable rate in the coming years.
The bio alcohol market can be categorized on the basis of type as bio butanol, bio BDO, bio ethanol and bio methanol. On the basis of applications, the bio alcohol market can be further categorized as infrastructure, transportation and medical. Transportation industry leads the bio alcohols market in 2014.
Asia-Pacific is expected to be the fastest growing region for bio alcohol market owing to the enduring growth in the end-user industries including construction, transportation, and electronics.
The region has a presence of huge population and is witnessing a growing demand for high performance products with increase in the income of the middle class. The countries in the region including China, India, and Indonesia are investing highly on the construction and infrastructure projects. This coupled with growing automotive sector to make the region a prominent market for bio-based alcohols.
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Some of the competitors in the bio alcohols market are Genomatica Inc., BASF SE, Fulcrum Bioenergy Inc, Cool Planet Energy Systems, EI du Pont de Nemours & Co, Myriant Corporation, Mascoma LLC, Harvest Power, Inc., and Mitsubishi Chemical Corporation.
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