에틸알코올 : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

The Ethyl Alcohol Market size was valued at 108.12 billion liters in 2025 and is estimated to grow from 113.98 billion liters in 2026 to reach 148.40 billion liters by 2031, at a CAGR of 5.42% during the forecast period (2026-2031).

Carbon-credit stacking is gaining traction, ethanol-to-jet pathways are accelerating, and there is a surging demand for pharmaceutical-grade products. These shifts are redefining value creation, moving beyond the traditional focus on fuel blending. Carbon capture and sequestration (CCS) is gaining prominence, leveraging the gap between the U.S. Inflation Reduction Act's 45Q credit and average capture costs. Consequently, older Midwest plants have evolved into profitable low-carbon hubs. Sustainable aviation fuel (SAF) is securing offtake agreements, absorbing volumes that road transport may soon relinquish, particularly due to the rise of electric vehicles (EVs). Concurrently, luxury personal-care brands are adopting carbon-captured ethanol to mitigate their Scope 3 emissions. By 2025, North America is expected to dominate supply; however, the Asia-Pacific region is witnessing the fastest growth, driven by rising blending rates in India and China's provincial E10 mandates. The competitive landscape is intensifying, with industry leaders such as POET, Raizen, and COFCO strategically aligning with CCS pipelines, CBIO premiums, and SAF contracts.

Global Ethyl Alcohol (Ethanol) Market Trends and Insights

Cost Competitiveness Versus Gasoline

In early 2025, Brazilian hydrous ethanol traded below the threshold that typically drives drivers to switch fuels, thus maintaining domestic demand. In late 2025, U.S. wholesale E85 was cheaper than regular gasoline on an energy-adjusted basis, despite the concentration of pumps in the Midwest. India set its C-heavy molasses ethanol procurement price lower than gasoline, aiding oil-marketing companies in achieving the blend target without resorting to direct subsidies. In early 2026, corn prices decreased, alleviating U.S. feedstock costs but tightening margins for less-efficient plants. Concurrently, Brazilian mills boosted cane yields, reducing production costs and enhancing export opportunities in California's Low Carbon Fuel Standard market, where credits were high.

Growing Flex-Fuel and Hybrid Vehicle Fleet

By 2022, the United States had a significant number of flex-fuel vehicles. However, only a small fraction of retail stations offered E85, leading to a low utilization rate. In Brazil, where most of the light-vehicle fleet is flex-fuel, ethanol outsold gasoline for several months in 2025 when price parity favored the biofuel. Thailand's gasohol demand increased in 2025, with E20 rapidly capturing market share, thanks to subsidies countering energy-density drawbacks. Japanese and South Korean automakers are testing ethanol-compatible hybrid powertrains as a hedge against battery supply risks and are awaiting regulatory approval for higher blends. The Philippines announced a nationwide E10 policy in late 2025, increasing reliance on Thai cassava-ethanol imports and bolstering intra-ASEAN trade.

EV Adoption Curbing Liquid-Fuel Demand

In 2024, U.S. electric vehicle (EV) sales increased significantly, capturing a substantial share of the light-duty vehicle market. California mandated that a considerable portion of sales transition to zero-emission vehicles by 2026, aiming to reduce gasoline consumption annually by 2030. Meanwhile, in China, 2025 witnessed a significant rise in sales of battery-electric and plug-in hybrid vehicles, which accounted for a substantial share of the passenger-car market. Regulators in China predict that gasoline demand will peak in the near future. The International Energy Agency (IEA) forecasts that by 2030, a substantial number of EVs will be operational globally, displacing a significant volume of gasoline, equivalent to a large amount of ethanol at a blended rate. Norway's 2025 ban on internal combustion engines has already resulted in a reduction in annual ethanol demand. In response, producers are shifting their focus to sustainable aviation fuel (SAF), industrial solvents, and high-purity applications. However, these new outlets currently account for only a small portion of the existing volume, highlighting a potential structural surplus risk.

Other drivers and restraints analyzed in the detailed report include:

1. Ethanol-to-Jet Pathway Momentum in SAF Supply Chains
2. CCUS Integration Enhancing Plant Economics Via Carbon-Credit Stacking
3. Water-Use Footprint Scrutiny Tightening Plant Permitting

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Pharmaceutical-grade ethanol is projected to grow at a 6.12% CAGR during the forecast period of 2026-2031, outpacing the broader Ethyl Alcohol Market. This growth is largely attributed to heightened specifications, particularly those related to vaccines and the push for benzene-free products. While fuel-grade ethanol accounted for 68.22% of the 2025 volume, its growth is expected to slow due to the rising adoption of electric vehicles (EVs). Industrial-grade ethanol, is benefiting from the Asia-Pacific construction sector's demand for ethyl acetate. Food-grade ethanol, with its notable market presence, enjoys a premium price tag due to its non-GMO traceability. Lab-grade ethanol, though a niche segment, is experiencing growth, fueled by steady biotech research and development investments in the United States and Europe.

The market for pharmaceutical-grade ethyl alcohol is poised for a significant upswing by 2031, while fuel-grade volumes are set to grow at a more moderate rate. Premium producers are capitalizing on United States Pharmacopeia standards and non-GMO audits. LanzaJet's carbon-captured ethanol, highlighting the rising demand for ultra-low-carbon feedstocks, secured a premium price in perfume supply contracts. Furthermore, industrial-grade volumes are climbing, spurred by tightening volatile-organic-compound caps in the paints and coatings markets of China and South Korea.

The Ethyl Alcohol (Ethanol) Market Report is Segmented by Grade (Fuel Grade, Industrial Grade, Food Grade, and More), End-User Industry (Automotive and Transportation, Food and Beverage, Pharmaceuticals, Cosmetics and Personal Care, and Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Market Forecasts are Provided in Terms of Volume (Liters).

Geography Analysis

In 2025, North America commanded 33.36% of the global volume, supported by the Renewable Fuel Standard's mandates. The United States, anchoring the regional supply, has a robust production capacity, with many plants targeting improved margins through CCS adoption by 2028. Canada's federal clean-fuel regulation, effective in 2025, aims to boost nationwide ethanol blends, though current volumes remain modest. Mexico, in 2025, capped ethanol in gasoline, leading to sustained import demand from the United States.

The Asia-Pacific region is projected to grow at a 6.51% CAGR through the 2026-2031 forecast period, with its Ethyl Alcohol Market Share set to expand. In the 2024-2025 supply year, India made significant ethanol purchases, achieving a notable blend and aiming for a nationwide increase by 2028. China's E10 initiative, active in several provinces, consumed a large volume of corn ethanol in 2025, but its nationwide expansion depends on stabilizing corn prices. ASEAN's consumption, bolstered by imports from regional neighbors, has been driven by Thailand's cassava-derived gasohol and the Philippines' new E10 mandate.

South America, in 2025, saw a significant boost from Brazil's output and RenovaBio's rising CBIO targets for 2026. Logistics from mills to coastal export terminals, streamlined by Raizen and Copersucar pipelines, enhance arbitrage opportunities with California's LCFS and Europe's SAF mandates. Europe, while accounting for a smaller share in 2025, saw Germany and France emerge as key markets. With RED III now favoring cellulosic and waste-based ethanol, demand is shifting, especially with double-counting eligibility. The Middle-East and Africa, the smallest region, are eyeing potential in Saudi Arabian pilot projects harnessing date-palm waste, suggesting new feedstock possibilities post-2028.

1. Abengoa
2. ADM
3. Advanced BioEnergy LLC
4. BP p.l.c.
5. Cargill, Incorporated
6. Copersucar
7. Flint Hills Resources
8. Gevo, Inc.
9. Green Plains Inc.
10. HBL
11. INEOS
12. POET, LLC
13. Raizen
14. Sasol
15. Tereos
16. Thai Bioethanol Co.
17. The Andersons Inc.
18. Triveni Engineering & Industries Ltd.
19. Ubon Bio Ethanol Public Company Limited
20. Valero Energy Corporation

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Cost competitiveness versus gasoline
  • 4.2.2 Growing flex-fuel and hybrid vehicle fleet
  • 4.2.3 Ethanol-to-jet (ETJ) pathway momentum in SAF supply chains
  • 4.2.4 CCUS integration enhancing plant economics via carbon-credit stacking
  • 4.2.5 Biogenic CO2 supply enabling e-methanol and syn-fuel projects
• 4.3 Market Restraints
  • 4.3.1 EV adoption curbing liquid-fuel demand
  • 4.3.2 Water-use footprint scrutiny tightening plant permitting
  • 4.3.3 Land-use change controversies triggering ESG investor push-back
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Degree of Competition

5 Market Size and Growth Forecasts (Volume)

• 5.1 By Grade
  • 5.1.1 Fuel Grade
  • 5.1.2 Industrial Grade
  • 5.1.3 Food Grade
  • 5.1.4 Pharmaceutical Grade
  • 5.1.5 Lab Grade
• 5.2 By End-user Industry
  • 5.2.1 Automotive and Transportation
  • 5.2.2 Food and Beverage
  • 5.2.3 Pharmaceuticals
  • 5.2.4 Cosmetics and Personal Care
  • 5.2.5 Other End-user Industries
• 5.3 By Geography
  • 5.3.1 Asia-Pacific
    • 5.3.1.1 China
    • 5.3.1.2 India
    • 5.3.1.3 Japan
    • 5.3.1.4 South Korea
    • 5.3.1.5 ASEAN Countries
    • 5.3.1.6 Rest of Asia-Pacific
  • 5.3.2 North America
    • 5.3.2.1 United States
    • 5.3.2.2 Canada
    • 5.3.2.3 Mexico
  • 5.3.3 Europe
    • 5.3.3.1 Germany
    • 5.3.3.2 United Kingdom
    • 5.3.3.3 France
    • 5.3.3.4 Italy
    • 5.3.3.5 Russia
    • 5.3.3.6 NORDIC Countries
    • 5.3.3.7 Rest of Europe
  • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of South America
  • 5.3.5 Middle-East and Africa
    • 5.3.5.1 Saudi Arabia
    • 5.3.5.2 South Africa
    • 5.3.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share(%)/Ranking Analysis
• 6.4 Company Profiles (includes Global Overview, Market Overview, Core Segments, Financials, Strategic Information, Products and Services, Recent Developments)
  • 6.4.1 Abengoa
  • 6.4.2 ADM
  • 6.4.3 Advanced BioEnergy LLC
  • 6.4.4 BP p.l.c.
  • 6.4.5 Cargill, Incorporated
  • 6.4.6 Copersucar
  • 6.4.7 Flint Hills Resources
  • 6.4.8 Gevo, Inc.
  • 6.4.9 Green Plains Inc.
  • 6.4.10 HBL
  • 6.4.11 INEOS
  • 6.4.12 POET, LLC
  • 6.4.13 Raizen
  • 6.4.14 Sasol
  • 6.4.15 Tereos
  • 6.4.16 Thai Bioethanol Co.
  • 6.4.17 The Andersons Inc.
  • 6.4.18 Triveni Engineering & Industries Ltd.
  • 6.4.19 Ubon Bio Ethanol Public Company Limited
  • 6.4.20 Valero Energy Corporation

7 Market Opportunities and Future Outlook

• 7.1 White-space and Unmet-Need Assessment