Vietnam Ethanol Market to Grow With a CAGR of 4.57% Through 2028
Rising demand from
automotive sector is driving the growth of Vietnam Ethanol Market in the
forecast period 2024-2028.
According to TechSci Research report, “Vietnam
Ethanol Market - By Region, Competition Forecast and Opportunities, 2018-2028”, Vietnam Ethanol Market stood at USD 147.00
million in 2022 and is anticipated to grow with CAGR of 4.57% in the forecast
period 2024-2028. This can be ascribed to rising demand
from automotive sector in the country. Ethanol, also known as ethyl alcohol, is
a colorless, flammable, and volatile liquid that is used as a fuel, solvent,
and ingredient in a wide range of products, from alcoholic beverages to
personal care items.
Vietnamese
government has set ambitious targets for increasing the use of ethanol in the
country's energy mix, and this is expected to drive the growth of the ethanol
market in the coming years. However, to achieve these targets, the government
will need to address the challenges facing the ethanol market, such as the lack
of infrastructure and the competition for feedstocks.
There is also
potential for the Vietnamese ethanol market to expand into other industries,
such as cosmetics and pharmaceuticals, as the demand for renewable and
sustainable products increases globally. As the global energy market continues
to shift towards renewable and sustainable sources of energy, the Vietnamese
ethanol market is expected to play an increasingly important role in the
country's energy mix.
Competition
for feedstocks has the potential to drive up the cost of food, which could have
negative consequences for the economy and social stability in Vietnam. In
addition, if the demand for feedstocks exceeds the supply, it could result in a
shortage of ethanol, limiting the growth of the market.
Browse over 38 market
data Figures spread through 94 Pages and an in-depth TOC on "Vietnam Ethanol Market.”
As the global
energy market continues to shift towards renewable and sustainable sources of
energy, the Vietnamese ethanol market is expected to play an increasingly
important role in the country's energy mix. However, the industry will need to
address challenges such as the lack of infrastructure and competition for
feedstocks in order to continue growing and expand in the future.
Vietnam
ethanol market is poised for growth, but it faces several challenges that could
limit its potential. The competition for feedstocks, infrastructure
constraints, and competition from other energy sources, are all factors that
could hinder the growth of the market.
Vietnam
ethanol market has seen a significant increase in investment over the last two
years. Several major ethanol producers have announced plans to expand their operations
in Vietnam, including Thai-based PTT and Japanese trading house Itochu.
Ethanol
industry in Vietnam must invest in new infrastructure, improve supply chain
efficiency, and work to reduce the cost of production. In addition, there is a
need for government policies that support the growth of the ethanol industry,
such as incentives for producers and regulations that promote the use of
renewable energy sources. By addressing these challenges, the Vietnam ethanol
market can continue to grow and play an important role in the country's energy
mix.
Vietnam Ethanol Market
can be segmented by Type, Raw Material, Purity, Grade, Application, and Region.
Based on Type, Vietnam
Ethanol Market can be divided into Bio Ethanol and Synthetic Ethanol. Bio
Ethanol segment is expected to dominate the market during the forecast period. This is attributed to the wide range applications, cost-effectiveness,
high environmental sustainability, and low regulatory compliance required.Based on Application,
the market can be fragmented into Fuel & Fuel Additives, Beverages,
Industrial Solvents, Personal Care, Disinfectant, and Others. Fuel & Fuel
Additives segment is expected to dominate the market during the forecast
period. The rise in the demand for fuel and fuel
additives in the country is due to increasing demand from automotive sector in
the country.
Major companies operating in Vietnam Ethanol Market are:
- Tung Lam Company Limited
- Thinh Cuong Co. Ltd.
- Le Gia Co., Ltd
- Duy Minh Joint Stock Company
- Hanoi Liquor And Beverage Joint Stock Company
- Sapa Trading & Services Company Limited
- Anh Duy Trading Co., Ltd
- Nguyen Khoi Trading Company Limited
- Kim Ha Viet Company Limited
- VMCGroup Vietnam Joint Stock Company
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“Vietnam Ethanol
Market has experienced several significant developments over the last two
years, including changes to government policy, increased investment, and new
production facilities coming online. These developments are expected to help
boost the production capacity of the Vietnam ethanol market, making it more
competitive with other energy sources and contributing to the country's energy
security.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Vietnam Ethanol Market -
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F” By Type
(Bio Ethanol, Synthetic Ethanol), By Raw Material (Sugar & Molasses,
Cassava, Rice, Algal Biomass, Ethylene, Lignocellulosic Biomass), By Purity
(Denatured, Undenatured) By Grade (Biofuel, Industrial, Food, Others), By
Application (Fuel & Fuel Additives, Beverages, Industrial Solvents,
Personal Care, Disinfectant, Others), By Region, Competition,
Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Vietnam Ethanol Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Vietnam Ethanol Market.
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