Ethanol is produced by the fermentation of sugar and yeast through a petrochemical process, and is extensively used as a popular recreational drug. Starch-based crops are the most common materials used in ethanol production as it is miscible with water. Apart from this, it is witnessing huge demand from the textile industry due to the rising demand for dyed fabrics.
Growing Demand for Dyeing Fabrics to Drive the Ethanol Market Growth
Textile industry encompasses the manufacturing and sales of fiber, cotton, and yarn. India is one of the fastest growing textile hubs in the world as the country employs about 40 million workers. As per the India Brand Equity foundation, India’s textile industry was valued at USD 108 billion in 2017 and is expected to reach a value of USD 223 billion by 2021.
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The conventional cotton dyeing procedures rely on high salt concentrations and consumes large amount of water, which is further compelling the manufacturers to use sustainable dyeing methods to reduce the environmental impact. The non-woven textile is the 231st most traded product according to the Observatory of Economic Complexity. The top exporters of Non-Woven Textiles are China with USD 2.63 billion value of exports, Germany USD 1.84B, and the United States (USD 1.38B. The massive demand for textile products have compelled the excessive demand of ethanol as it is used to mitigate the amount of salt and water needed for cotton dyeing procedures. This is likely to move the demand for ethanol market during the assessment period.
Ethanol Market Segmentation
Central and South America and the Caribbean
The Middle East and Africa
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